Two developments in the China Fishery Chapter 11 bankruptcy filing have given William Brandt, the trustee overseeing the sale of the company’s Peruvian assets, hope that he will get a deal done, Seafood Source reported. On 19 February, Brandt filed a proposed settlement agreement with China Fishery Group’s court-appointed liquidator, FTI Consulting, which had sued the company, arguing it had used ill-gotten earnings to purchase Copeinca in 2013.
Sustainable debt sales are suddenly booming in Latin America, as investors looking for larger returns in environmentally and socially friendly securities grow more comfortable with buying high-yield bonds, Bloomberg News reported. Borrowers in the region have raised about $8.7 billion in international debt deals tied to environmental, social and governance projects so far this year, according to data compiled by Bloomberg. That’s approaching the record $10.8 billion issued all of last year. And there’s plenty more to come.
Brazil’s Supreme Court could upend years of work by the Carwash anti-corruption task force that sent some of the nation’s top politicians and businessmen to jail, Bloomberg News reported. A panel of five judges is discussing whether Sergio Moro, once the judge in charge of the investigation and its most public face, was biased in his rulings against Luiz Inacio Lula da Silva. If he’s deemed unfit, the decision could open the door for others he convicted to request their cases be reviewed.
Rio Tinto PLC said that its chairman would step down because of its destruction of two ancient rock shelters in Australia last year, bowing to demands from some investors for greater accountability for the incident, the Wall Street Journal reported. Rio Tinto said that Simon Thompson won’t seek reelection next year, tying the decision to the May demolition of the Juukan Gorge shelters that contained a trove of artifacts indicating they had been occupied by humans more than 46,000 years ago.