Regional news: Latin America & Caribbean

Reflective loss rules only apply to shareholders, UK Supreme Court rules in Marex case

The UK Supreme Court has found the reflective loss doctrine only applies to some shareholders, overturning a lower court’s decision to bar an asset-stripping claim brought by UK foreign exchange broker Marex.

16 July 2020

Canadian oil servicer Calfrac secures emergency stays in Texas and Alberta

A Canadian oilfield services provider that operates in Russia and Argentina has secured an emergency Chapter 15 injunction in Texas, as well as a stay on creditor proceedings in Alberta.

15 July 2020

Spanish firm Abencys opens office in Argentina

Madrid-based boutique Abencys has launched a new office in Argentina, in association with local firm De la Vega Caldani Linares Luque & Eviner.

14 July 2020

Ecuador reaches debt deal with half of bondholders, others make counter-offer

Ecuadorean lawyers have reacted positively to a provisional debt relief agreement reached with holders of about half of the country’s sovereign bonds, as two other bondholder groups made a counter-offer.

14 July 2020

Hong Kong court blocks use of Singapore Mareva order as evidence

The Hong Kong Court of Appeal has refused to admit a Singapore court’s Mareva injunction as evidence that an equivalent order should be reinstated in Hong Kong, for the liquidators of Cayman-incorporated China Medical Technologies.

13 July 2020

LATAM's Brazil arm joins Chapter 11, as recognition granted in Chile and Colombia

LATAM Airlines Brasil has joined in the New York Chapter 11 proceedings of its South American parent, as the group secured recognition of its US bankruptcy in Chile and Colombia.

10 July 2020

Ogier promotes one in Guernsey, hires two in London

Offshore firm Ogier has promoted Bryan de Verneuil-Smith in its Guernsey dispute resolution team and hired Jeremy Snead and Anna Snead from Appleby in the Cayman Islands.

03 July 2020

Begbies Traynor brought in as Hong Kong-owned Wigan Athletic kicks off administration

English football club Wigan Athletic has fallen into administration in the UK, just weeks after it was taken over by Cayman-registered, Hong Kong-based Next Leader Fund.

03 July 2020

Mexican retailer files pre-pack Chapter 11 in New York

Mexican loan to own retailer Grupo Famsa has filed a pre-packaged Chapter 11 plan to restructure a single series of notes that were due in June, after covid-19 prevented it from refinancing them with further borrowing.

02 July 2020

Aeroméxico becomes latest LatAm airline to file Chapter 11 in New York

Mexico’s second-largest airline Aeroméxico has filed Chapter 11 proceedings in New York, following in the steps of Colombian-Panamanian airline Avianca and South America’s largest passenger carrier Latam.

02 July 2020

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