Regional news: Latin America & Caribbean

Saint Vincent liquidators secure third-party funding order

The liquidators of an investment holding company in Saint Vincent and the Grenadines have secured court approval to draw down on a funding agreement with one of its Malta-based creditors to fund its liquidation.

06 July 2023

Differ Group Auto withdraws Cayman RO petition

Chinese investment holding company Differ Group Auto has withdrawn an application to appoint restructuring officers in the Cayman Islands after reaching a deal with an investor who has agreed to fund a restructuring in Hong Kong.

05 July 2023

Atento enters RSA with advice from Sidley, Loyens & Loeff, Houlihan and FTI

Lawyers from Sidley Austin and Loyens & Loeff, and financial advisers from Houlihan Lokey and FTI Consulting, have helped a business process outsourcing firm with a focus on Latin America enter a bridge financing deal that will help it raise US$30 million in new money, while it contemplates a restructuring through a Part 26A plan in the UK.

04 July 2023

SVB secures sale of investment arm as Cayman branch wound up

Liquidators have been appointed over the Cayman Islands branch of Silicon Valley Bank, on the same day the bank secured a New York court’s provisional approval to sell its investment banking arm to a management group backed by Boston-based hedge fund Baupost Group.

03 July 2023

Hong Kong claims may proceed against entity in BVI liquidation

A Hong Kong national may continue to pursue local injunctions against a company that is in liquidation in the British Virgin Islands, after a Hong Kong court declined to stay his actions in favour of the Eastern Caribbean Supreme Court.

27 June 2023

Telford holdcos wound up in Cayman following wider restructuring

Two rump holdcos that were left behind when US investor Merced Capital acquired Dubai-based offshore construction vessel owner Telford Offshore as part of a restructuring in February have been wound up in the Cayman Islands.

26 June 2023

“When I rest, I carry heavy rocks”: an interview with Judge Daniel Carnio Costa

São Paulo bankruptcy judge and co-chair of the International Insolvency Institute’s judicial committee Judge Daniel Carnio Costa tells GRR about his central role in helping reform Brazil’s bankruptcy law, new tools he would like to see added to the statute book and how time spent studying in the US and Europe helped shape his innovative approach to restructuring.

23 June 2023

Conyers advising as Chinese auto e-commerce operator seeks ROs in Cayman

A Chinese investment holding company that focuses on the automobile e-commerce sector has applied to appoint restructuring officers in the Cayman Islands to help it deal with its debts.

20 June 2023

Baker McKenzie poaches LatAm team from Paul Hastings

Baker McKenzie has nabbed a trio of partners and an of counsel with restructuring experience from Paul Hastings, strengthening its Latin American offering.

20 June 2023

Global menswear retailer’s Hong Kong liquidators permitted to seek mainland recognition

The liquidators of menswear retailer Trinity International Brands have secured a Hong Kong court’s permission to seek recognition in mainland China after accusing a former director of embarking on an asset-stripping exercise.

16 June 2023

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