Regional news: Latin America & Caribbean

Kalo appoints new managing director in Cayman

Offshore restructuring and insolvency boutique Kalo has hired a former AlixPartners managing director for its Cayman Islands office.

01 November 2019

Cayman oil holding company seeks recognition in New York

The liquidator of an international oil and gas group’s Cayman holding company has filed Chapter 15 proceedings in New York, accusing its US-based directors of being “consistently uncooperative”.

31 October 2019

Paul Hastings and Willkie Farr advising as PDVSA claims bonds are illegal

Venezuela’s state oil company PDVSA has asked a New York court to declare a tranche of its notes due in 2020 as unenforceable and to prevent any seizure of its Texas-based oil refiner Citgo.

30 October 2019

Conyers hires in Cayman

Offshore firm Conyers Dill & Pearman has hired Jonathon Milne from Mourant Ozannes as a partner in its Cayman Islands litigation and restructuring practice.

28 October 2019

Cayman court authorises Saad distributions pending AHAB appeal

After over a decade of waiting, creditors of a Saad Group holding company are to receive distributions in the wake of Saudi conglomerate Ahmad Hamad Algosaibi & Brothers’ failed US$4 billion Cayman fraud litigation – even as AHAB’s appeal in the case remains underway.

22 October 2019

Appeal struck out over “cavalier attitude” to Singapore freezing order

A four-year legal battle between Singapore and British Virgin Islands-based former entities of restructured Chinese solar power manufacturer Suntech has ended, after a Singapore court threw out an appeal for "contumelious breaches" of a freezing order.

01 October 2019

Puerto Rico begins “march out of bankruptcy” with adjustment plan

The board overseeing Puerto Rico’s US$129 billion bankruptcy has filed an adjustment plan to deal with the bulk of its government debt.

30 September 2019

Amazon iron ore mine restructuring approved

A São Paulo court has approved the restructuring of a Brazilian iron ore mine after six years of closure, with Pinheiro Neto advising a syndicate of banks.

20 September 2019

Brazilian sugar exporter accused of fraud files Florida Chapter 15

The foreign representative of a group of Brazilian sugar and ethanol exporters has filed for Chapter 15 recognition in Florida, accusing the group’s owners of “gross mismanagement”.

23 August 2019

Mining company winding-up stayed in Hong Kong

Liquidators of a Hong Kong-based mining company have won confirmation of a set-aside for the very default judgment that sparked their appointment.

21 August 2019

Get unlimited access to all Global Restructuring Review content