Regional news: Latin America & Caribbean

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

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

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

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

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

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

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 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

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

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