Del Castillo y Castro Abogados has one of the strongest restructuring practices in Latin America and we believe the scope of our practice and the successes we have achieved on behalf of our clients are truly distinguishing features of our firm.
Our lawyers have handled various debt restructurings that were often controlled by foreign investors. We have advised our clients on the challenges demanded by private restructuring operations in which numerous creditors participate, or that take place in different jurisdictions. Our team is the first in Mexico to achieve a true consensual restructuring of a company through the new construct of commercial insolvency. For years, we have actively represented various manufacturing, commercial and service companies, in their capacity as debtors, in a wide range of financial operations, including: Credits (guaranteed or unsecured); syndicated credits, either representing the administrative agent and guarantees in syndicated loans to one of the participants or to the Mexican debtor; financing of assets; and exchange of debt.
Our lawyers are capable of representing debtors and creditors in all the activities that are entailed in a complex restructuring. In addition to negotiation capabilities, the team can handle all the transactional aspects of a restructuring, including all the securities issues involved, as well as all the judicial aspects of a restructuring, such as concurso and hostile litigation. Typically, in the Mexican market, a client would need to use more than one firm for this work. No other team of lawyers has handled as many cases in concurso (the equivalent of Chapter 11), as well as advising on corporate aspects of the restructuring.
Recent selected representations include:
- Currently, Del Castillo y Castro Abogados is representing Corporación Geo during its liquidation procedure.
- Previously, Del Castillo y Castro Abogados acted as counsel for Corporación Geo in the first restructuring to be filed in México through a pre-packaged bankruptcy proceeding since the amendment to the Ley de Concursos Mercantiles in January 2014.
- Del Castillo y Castro Abogados acted as external legal counsel to Corporación Geo, and its subsidiaries regarding the fulfillment of its obligations before the Mexican Stock Exchange (Bolsa Mexicana de Valores) and the Mexican Securities Exchange Commission (Comisión Nacional Bancaria y de Valores). Our team also advised Corporación Geo and its subsidiaries in connection with the preparation of the shareholders’ resolution to dissolve and liquidate such companies and/or declare them bankrupt.
- We successfully advised Hipotecaria Su Casita E.N.R. in connection with more than eight lawsuits from creditors who did not participate in the exchange of the company’s debt for new long- term paper. As a consequence of our client not obtaining new financing from the Mexican government, as was required under the company’s business plan, our team firm filed for bankruptcy protection with a Federal Court and strategically obtained a stay of all collection proceedings. We achieved an orderly transfer management and collection of loan portfolios to third parties in order to maximize asset value as payment. As a result of this matter, Del Castillo y Castro Abogados has earned recognition in Mexico as one of the most experienced team of specialists in bankruptcy, debt restructuring and associated litigation.
- Our team acted as external legal counsel to Hipotecaria Su Casita, E.N.R. regarding the fulfillment of its corporate obligations and advised the company and its shareholders in connection with its dissolution, liquidation and bankruptcy process. Del Castillo y Castro Abogados is currently working on the liquidation phase, having achieved an organized process that was the first of its kind.
- Del Castillo y Castro Abogados acted as external legal counsel to Quesería Dos Lagunas, one of the main producers of dairy products in Mexico, in its corporate reorganization process which included, among other aspects, the complete amendment of its corporate by-laws.
- Del Castillo y Castro Abogados is representing Deutsche Bank as trustee to a certain Trust Agreement related to the insolvency proceeding of Perforadora Oro Negro, (“Perforadora”), in which judicial orders have been rendered requiring Deutsche Bank to transfer to Perforadora certain amounts under the Trust Agreement.
- Del Castillo y Castro Abogados is representing Abengoa Mexico, and its subsidiaries in the restructuring of its debt with several stakeholders. The restructuring negotiations commenced in November 2015, including government institutions, banks, private investors, and the holders of certain bond programs. Our team is also providing advice in connection with the global reorganization of Abengoa, which involves a debt in countries such as Spain, France, Netherlands, United States, Brazil, Uruguay, Argentina, Perú, Chile, Venezuela, China, Arab Emirates, amongst others.
- Del Castillo y Castro Abogados is advising creditor Banco Mercantil del Norte Institución de Banca Múltiple, Grupo Financiero Banorte in the insolvency proceeding of M&G Polímeros México, and certain companies in the same corporate group. We are also representing Alpek from Grupo Alfa in the insolvency procedure of M&G Polímeros México, and certain companies in the same corporate group.
- Del Castillo y Castro Abogados is advising Banco Mercantil del Norte, Institución de Banca Múltiple, Grupo Financiero Banorte in its insolvency proceeding in connection with its role as trustee of a business trust.