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  4. Multinational LATAM companies in distress: Chapter 11 or Chapter 15 of US Bankruptcy Code - opportunities and pitfalls

IBA Annual Conference Miami 2022

30 Oct - 4 Nov 2022

Room 209, Level 2

Session information

Multinational LATAM companies in distress: Chapter 11 or Chapter 15 of US Bankruptcy Code - opportunities and pitfalls

Thursday 3 November (1430 - 1545)

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Room 209, Level 2
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Committee(s)

Insolvency Section (Lead)
Latin American Regional Forum

Description

In the last years, we have seen several Latin American companies filing for Chapter 11 in United States instead of filing for reorganization in their own countries and then seeking protection in the US under Chapter 15. This panel will address the reasons for such trends, focusing on the advantages and disadvantages of each of such strategies (Chapter 11 vs. Chapter 15), as well as on cultural matters. We shall also explore the different nature of the Latam multinationals’ equity composition, normally with a strong controlling shareholder, vis-à-vis the traditional US debtor and how the absolute priority rule may (or may not) influence the decision on where to file.  

Session / Workshop Chair(s)

Tomas Araya Bomchil, Buenos Aires, Argentina; Senior Vice Chair of Conferences, Insolvency Section
Fernando Martinot Estudio Martinot, Lima, Peru; Membership Officer - South America, Insolvency Section

Speakers

Guilherme Fontes Bechara Demarest Advogados, São Paulo, Brazil
Susana Hidvegi-Arango Former Superintendent of Bankruptcy Proceedings, Bogota, Colombia
Ricardo Reveco Carey y Cia, Santiago, Chile; Industry Officer - Finance and Insurance, Insolvency Section
Lisa Schweitzer Cleary Gottlieb Steen & Hamilton LLP, New York, New York, USA

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