Regional news: Latin America & Caribbean

Aeroméxico exits Chapter 11 bankruptcy

Mexican flag carrier airline Aeroméxico has successfully emerged from its Chapter 11 restructuring, almost two years after it first entered the process.

22 March 2022

Cayman judge hopes Hong Kong court will avoid “unnecessary conflict”

A Cayman court has issued a winding up order against a locally incorporated textiles group, saying it would be “more effective internationally” than a similar order made in Hong Kong three months ago.

21 March 2022

Lefosse recruits from E Munhoz in Brazil

Brazil’s Lefosse has boosted its restructuring department by hiring a partner from local boutique E Munhoz Advogados.

18 March 2022

BVI court to consider impact of Russia sanctions on receivership

A British Virgin Islands court is gearing up to consider the impact of Russia sanctions on receivers appointed over a local entity for the benefit of Russia’s VTB Bank, which is seeking to enforce a US$30 million judgment debt against a Ukrainian businessman and politician.

15 March 2022

Third time lucky? Samarco submits amended plan

Creditors of Brazilian miner Samarco Mineração are considering a third amended plan that the beleaguered company submitted before a court in Belo Horizonte last week, with a vote now postponed until April – but they say the differences compared to its previous plan are “minimal”.

14 March 2022

BVI court discharges Israeli real estate investors from receivership

Two companies that own real estate in Israel have been discharged from receivership in the British Virgin Islands after a local court found the Israeli lawyer who made the application failed in her duty of disclosure.

11 March 2022

Cayman Islands insurance holding company pursues Ch15 recognition

Automobile insurance holding company Atlas Financial has sought recognition of its Cayman Islands scheme of arrangement in New York in an effort to stop potential noteholder action from causing “irreparable harm”.

08 March 2022

Hong Kong court rejects appeal in Peking Uni recognition case

Mr Justice Harris has refused permission for the Beijing administrators of Peking University’s corporate arm to appeal his decision allowing four bondholder disputes to proceed in Hong Kong.

07 March 2022

IWIRC names Woman of the Year and inaugural Hall of Famer

The International Women’s Insolvency and Restructuring Confederation has named the former chief bankruptcy judge of Colombia as its 2022 Woman of the Year, and a US-based healthcare turnaround expert as the first inductee in its Hall of Fame.

07 March 2022

Peak Hotels liquidation fixed fee dispute reaches UK’s highest court

The UK Supreme Court is considering what priority should be afforded to pre-liquidation legal fees in a hotel owner’s cross-border insolvency, as British law firm Candey argues it did not waive an English law equitable lien arising from its work as litigation counsel to Peak Hotels when it entered a fixed fee arrangement with the group and registered a deed of charge in the British Virgin Islands.

02 March 2022

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