How U.S. Bankruptcy Laws Can Assist Latin American Companies and Their Investors

August 26, 2019
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Businesses and individuals dealing with potential insolvencies of Latin American companies may benefit from reorganization tools under U.S. bankruptcy laws, which allow U.S. courts to assist in restructurings of companies operating predominantly outside the United States.
Sullivan & Cromwell partner Andy Dietderich, the co-head of our Global Finance & Restructuring Group, outlines the benefits and drawbacks of bringing Latin American restructuring matters before U.S. courts in a chapter published in The Guide to Corporate Crisis Management, First Edition.

S&C partners Sergio Galvis, Robert Giuffra and Werner Ahlers edited the 189-page guide and together they co-authored its introduction. The Guide offers practical strategies for businesses to plan for and manage a range of crisis situations, including corruption scandals, environmental accidents and government instability.
Throughout more than a century of involvement in Latin America—dating back to the creation of the Panama Canal—S&C has played an integral role in Latin America’s economic and legal history.
Today, S&C is known for:

  • Being the leading international law firm in M&A deals in the region, advising on the highest volume by dollar value over the last five years
  • Advising on over 50% of the market’s sovereign offerings in the last five years
  • Representing more sponsors and borrowers on project financings in the region than any other firm over the last three decades
  • Key litigation successes, including:
    • Representing the Central Bank of Argentina in three successful arguments before the U.S. Court of Appeals for the Second Circuit
    • Defending the Mexican airline Volaris and individual defendants against a U.S. putative class action arising out of the client’s IPO
    • Dallas Airmotive Inc. in resolving a three-year FCPA investigation by the U.S. Department of Justice