Regional news: Latin America & Caribbean

China’s E-House seeks US recognition of Cayman scheme

Struggling Chinese real estate services provider E-House (China) Enterprise is seeking Chapter 15 recognition of its Cayman scheme, which it recently amended to allow it to deal with notes held through sanctioned Russian banks.

04 October 2022

GRR Live returns to New York on 6 October

With a packed schedule covering clashes between national insolvency regimes, important developments across Latin America, sovereign debt restructurings and the meltdown in crypto markets, GRR Live is returning to New York.

22 September 2022

Interpol-wanted businessman fails to annul bankruptcy on COMI grounds

A former businessman subject to an Interpol Red Notice after breaching bail in Bermuda in “extraordinary circumstances” has failed to annul an English bankruptcy order, after a judge found his centre of main interests was in the UK at the time the petition was served on him in a Dutch jail, where he was serving time for bankruptcy fraud.

21 September 2022

New York court blocks PJT restructuring fee in LATAM Ch11

Despite claiming the duration and complexities of its Chapter 11 case were unforeseen, South American airline LATAM has failed to convince a New York court to let it pay its investment banker PJT Partners an additional US$12 million restructuring fee if its plan becomes effective.

20 September 2022

Ozner scheme sanctioned in Hong Kong, mainland recognition pending

Cayman-incorporated water purification company Ozner Water has secured sanction of a Hong Kong scheme of arrangement, while a recognition application by its liquidators is pending in mainland China.

20 September 2022

Sidley, Admiralty Harbour advising as China Fortune Land reveals restructuring terms

Property developer China Fortune Land has revealed details of a proposed debt swap that it will offer to holders of eleven tranches of bonds issued by a Cayman subsidiary – with plans to pursue an English scheme of arrangement if a consent proposal fails.

16 September 2022

Chinese developer Sunac facing winding up in Hong Kong

Struggling Chinese real estate developer Sunac is facing a winding up petition in Hong Kong but says it will continue negotiating with offshore creditors to formulate a viable restructuring plan.

13 September 2022

White & Case defeats disqualification bid in YPF litigation

A US federal appeals court has rejected a bid by Argentine energy company YPF to disqualify White & Case from representing its adversary in a bankruptcy lawsuit, after the firm hired a lawyer who had been working on YPF’s defence team.

12 September 2022

White & Case, Bumachar advising as gold miner files in Brazil, Canada and US

UPDATED: Gold miner Mina Tucano has entered judicial reorganisation in Brazil and sought Chapter 15 recognition in New York, while its parent has filed for bankruptcy in Canada – with White & Case, Bumachar Advogados Associados, McCarthy Tetrault and Alvarez & Marsal advising.

09 September 2022

Hong Kong court threatens property developer’s directors with costs of winding up petition

Directors of a Chinese property developer who opposed its winding up in Hong Kong on the basis of a vague restructuring proposal that never moved forward, may now face paying the costs of the petition after a highly critical court decision.

06 September 2022

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