Regional news: Latin America & Caribbean

Deutsche petition hits Chinese solar restructuring

Deutsche Bank has filed a winding-up petition in Hong Kong against a Chinese solar energy company seeking to restructure US$430 million of debt.

13 August 2019

GRR Live-Latin Lawyer, New York: Venezuela divided

Venezuelan companies that were worth US$1 billion 20 years ago, can now be bought for US$55 million, according to GCG Advisors managing partner Jose Gonzales. “If you want to take the risk, there should be plenty of opportunity.”

01 August 2019

Privy Council allows Bahamian liquidator to serve clawback claim in Bermuda

The UK’s Privy Council has sided with a Bahamian appeals court and allowed a liquidator to serve a fraudulent preference claim outside the jurisdiction.

30 July 2019

Brazilian group accused of hiding assets offshore

The foreign representative of a bankrupt Brazilian conglomerate has applied for Chapter 15 recognition in Miami, accusing the group’s family owners of building corporate structures offshore to hide their assets from creditors.

25 July 2019

CVR Global hires Deloitte BVI head as partner

Advisory firm CVR Global has hired a joint liquidator of Panama Papers leak victim Mossack Fonseca from Deloitte in the British Virgin Islands.

12 July 2019

GRR Live-Latin Lawyer, New York: The “unique” case of Venezuela's sovereign debt

The “astonishing” diversity of Venezuela’s US$150 billion debt pile means its potential sovereign debt workout will be unlike any seen before, the opposition government’s adviser Lee Buchheit has said, as he raised scepticism about state oil company PDVSA entering Chapter 15 bankruptcy in the US.

11 July 2019

Brazilian food chain bankruptcy seeks chapter 15 recognition amid fraud claims

A high-end Brazilian steakhouse chain, whose former executives have been accused of conspiring to defraud two public pension funds, is seeking recognition for its bankruptcy in New York.

05 July 2019

Irish oil services group enters Chapter 11, with Irish and Bermudian proceedings to follow

Irish oilfield services group Weatherford International has filed for Chapter 11 protection in a Texas bankruptcy court aiming to cut down its US$8.35 billion debt through a pre-packaged plan that envisages parallel proceedings in Ireland and Bermuda.

04 July 2019

Bedell Cristin hires familiar face as new litigation head in BVI

Offshore firm Bedell Cristin has rehired Tim Wright, a former associate of the firm in Jersey, as partner and head of its litigation and dispute resolution practice in the British Virgin Islands.

28 June 2019

BVI fund chases New York-based businessman in Chapter 15 filing

The liquidators of a British Virgin Islands fund have filed for Chapter 15 recognition in New York, requesting discovery against a US-based businessman they suspect of transferring assets to avoid paying debts owed to the fund.

27 June 2019

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