Massachusetts

Join our panel of expert estate counsel, trustees and insurance counsel as they discuss issues related to standing, safe harbors, in pari delicto and other complications that insurers and defendants use to frustrate the pursuit causes of action by Trustees

In the past few months, we have seen once-prominent Brazilian companies face financial distress as a result of governmental mistakes, political unease, global decline in oil and gas prices and the downturn in the local credit markets. Most importantly, the Petrobras bribery and corruption scandal has had wide-ranging effects on Brazilian companies, from the criminal prosecution of corporate executives to open-ended prohibitions on future contracts with Petrobras and, in some instances, fines millions of reais.

This panel will feature a discussion with leading experts in the field of Latin American restructurings about the recent — and not-so-recent — updates to insolvency statutes throughout the region. While some of these new insolvency regimes remain largely untested, others offer both lessons and open questions about the potential for a true convergence of Latin American restructuring laws to other more established and tested jurisdictions.

Many companies operating in and around the energy industry have been adversely affected by the recent precipitous drop in the price of oil, a global trend that has exposed vulnerabilities in a number of industry segments and individual companies. The companies, their exposures and the complicated issues raised by their distress span the Americas.

Preservation and realization of NOLs through plan structures (Capmark, WaMu, Fremont General); tax-sharing agreements and allocations of tax benefits (Edison Mission); OID (ResCap); excess loss account; fair market exchanges; transfer pricing (Nortel); trading restrictions and more.