Regional news: Latin America & Caribbean

China’s Modern Land enters RSA, Evergrande accused of criminal conduct

Beleaguered Chinese property developer Modern Land has announced plans to file a restructuring scheme in the Cayman Islands and seek recognition of it in the US, while an Evergrande creditor has lodged a criminal complaint against the real estate giant.

01 March 2022

Brazilian miner submits revised plan, protocol revealed

Samarco Mineração, the Brazilian miner beleaguered by a fatal dam collapse in 2015, has submitted a new restructuring plan to creditors as it emerged the Brazilian court overseeing its reorganisation agreed to a cooperation protocol with a US court late last year.

28 February 2022

First cryptocurrency third-party debt order issued in England

In a landmark ruling that lawyers say shows virtual assets are no longer a haven for bad actors, the High Court in England has issued the first-ever third-party debt order in relation to cryptocurrency.

25 February 2022

China’s Zhenro warns of potential default

Another Chinese developer has announced it is likely to miss debt repayments in the coming weeks and has set out plans to exchange a series of Chinese and US dollar notes.

23 February 2022

Fantasia contests HSBC’s default claims

Struggling Chinese property developer Fantasia Holdings has argued in an English court filing that HSBC’s claim it defaulted under the terms of a swaps agreement is “difficult to understand”.

22 February 2022

Chinese property developer pursues BVI scheme, Chapter 15

Harneys and Sidley Austin are advising Chinese property group RiseSun as one of its note-issuing entities pursues a scheme of arrangement in the British Virgin Islands and Chapter 15 recognition in New York.

22 February 2022

Cayman fund enters first-of-its-kind resolution with SEC

The liquidators of a Cayman fund embroiled in a fraud scandal have secured recognition in New York, days after a Cayman court hailed a resolution they entered with the US Securities and Exchange Commission as a “significant and progressive step” in cooperation between the two jurisdictions.

18 February 2022

Pacific Andes wins Ch11 plan confirmations

Two groups of companies that sit within industrial fishing conglomerate Pacific Andes have secured Chapter 11 plan confirmations in New York, after agreeing to remove third-party releases.

17 February 2022

Freezing crypto assets in the Cayman Islands – practical considerations

Months after their colleagues explored the treatment of cryptocurrency as property, Collas Crill's head of dispute resolution Stephen Leontsinis and counsel Natascha Steiner-Smith in the Cayman Islands discuss how courts might deal with the identification and freezing of such proprietary assets.

16 February 2022

Hong Kong trustees secure cross-border relief in London

The foreign representatives of a bankrupt Hong Kong businessman have secured an order under the UNCITRAL Model Law entrusting them with the realisation of his assets in the UK.

15 February 2022

Get unlimited access to all Global Restructuring Review content