Regional news: Latin America & Caribbean
Odebrecht subsidiary seeks court sanction for extrajudicial restructuring
The construction services arm of Brazil’s Odebrecht has submitted an extrajudicial restructuring of US$3.3 billion worth of notes to a court in São Paulo for final approval.
25 August 2020
Campbells hires new managing partner in Hong Kong
Offshore law firm Campbells has hired Shaun Folpp from Mourant to take over the management of its Hong Kong office.
21 August 2020
BVI court refuses to discharge freezing order against Chinese cinema owner
A British Virgin Islands court has refused to set aside a freezing order against the Chinese owner of insolvent cinema group SMI Holdings, addressing a recent appeal decision on Chabra injunctions.
18 August 2020
COMI not in place of registration by default, English court rules
An English court has issued a winding-up order against a Maltese-registered oil company, after finding its centre of main interests was in the UK rather than its place of registration by default.
17 August 2020
Chilean copper miner seeks US recognition following creditor “attacks”
A Chilean producer of copper cathodes is seeking recognition of its Santiago bankruptcy in New York, claiming its bank accounts have “come under attack” from creditors in Chile and the US.
17 August 2020
Speedcast agrees sale to support Chapter 11 exit
Australian satellite communications group Speedcast has agreed to sell its business to a US private equity firm, in a deal that would see disgruntled shareholders lose out when it emerges from bankruptcy.
14 August 2020
Cayman court curtails freezing order against China’s answer to Starbucks
A Cayman court has declined to extend a worldwide freezing order against China’s Luckin Coffee chain, which entered provisional liquidation in July after confirming it misstated its 2019 accounts.
13 August 2020
Bermuda-registered oil services company files Chapter 11 in New York
A Bermuda-registered oil and gas services company with operations in the North Sea and West Africa has sought Chapter 11 protection after failing to reach a deal with its Scandinavian lenders.
13 August 2020
Clifford Chance, A&O and Akin Gump advising on commodity trader’s UK scheme
An international commodity trader has secured court approval to convene meetings for its creditors to vote on a UK scheme of arrangement, with Clifford Chance, A&O and Akin Gump taking roles.
11 August 2020
Mexican retailer enters bankruptcy in Mexico, after Chapter 11 derailed
Mexican loan to own retailer Grupo Famsa has applied for bankruptcy protection in Mexico along with Chapter 15 recognition, after the loss of its banking licence derailed its Chapter 11 process.
07 August 2020
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