Jorge Luis Moreno Félix, Jose Ignacio El-Mir Arnedo, Abraham Maldonado Zenteno and Iván Neftalí Hernández, PwC
This is an extract from the second edition of The Guide to Restructuring published by Latin Lawyer. The whole publication is available here.
Introduction
Roberto E Silva, Martín Campbell and Agustina M Ranieri, Marval, O’Farrell & Mairal
This is an extract from the second edition of The Guide to Restructuring published by Latin Lawyer. The whole publication is available here.
Introduction
Tomás M Araya and Lucía Carro, Bomchil
This is an extract from the second edition of The Guide to Restructuring published by Latin Lawyer. The whole publication is available here.
Introduction
Key Takeaways
Recent Developments
Year in Review – Latin America in 2016
Argentina
Sovereign debt restructuring: On April 22, 2016, after Congress approved a settlement proposal, Argentina issued US$16.5bn of new debt securities in the international capital markets, and applied US$9.3bn of these proceeds to satisfy settlement payments on agreements with holders.
Introduction
As restructuring and cross-border insolvency issues become increasingly global, an understanding of the influence of different cultures and some of the key drivers is critical. The INSOL panel was diverse, with members from Asia (Helena Huang, King & Wood Mallesons), North America (Renee Dailey, Morgan, Lewis & Bockius LLP), South Africa (Paul Winer, ENSafrica) and Latin America (The Honourable Judge Maria Cristina O’Reilly, National Commercial Court, Argentina).
Fernando Daniel Hernandez, Marval O’Farrell & Mairal
This is an extract from the 2020 edition of the Americas Restructuring Review, published by Global Restructuring Review. The whole publication is available here.
In summary
A bondholder of Argentine restructured debt filed for an injunction before the Argentine courts against the Bank of New York Mellon, as trustee under the exchange bonds. The plaintiff claimed the distribution of funds – frozen by a US court order – that Argentina had deposited into the Bank of New York Mellon's account to comply with the payments under those bonds. The Argentine courts dismissed the request, concluding that they lacked jurisdiction.