Webinar | Listen to the on-demand recording
01 July 2020

On-demand webinar: Restructuring strategies for Brazilian corporate debtors during market disruption

The COVID-19 crisis has the potential to result in liquidity crises for Brazilian corporate debtors to the extent it has not already led to a cash shortage. When, how, and to what extent corporates respond proactively can determine which corporates will have to undergo a judicial reorganization and those that have successfully navigated the out-of-court strategies.

In this combined webinar and panel discussion, restructuring, finance, and capital markets lawyers from Hogan Lovells and the Brazilian law firm of BMA – Barbosa Müssnich Aragão, together with strategic restructuring advisers from Alvarez & Marsal, will help identify and explain the key strategies necessary for a successful restructuring.

This presentation will involve the discussion of creative capital markets financing techniques, including the use of step-up returns based upon revenue increases when markets return to normal post-crisis.  

This webinar will focus on the following topics:

• The appropriate timing to engage in restructuring discussions with creditors.
• Procedural considerations as to whether to pursue in-court or out-of-court restructurings, an overview of Brazilian insolvency law and Chapter 15 in the U.S., and the pros and cons of out-of-court and in-court.
• Particular out-of-court strategies, such as:
  • amendments/consent solicitations to existing bonds;
  • exchange offers;
  • rights offerings;
  • bilateral and syndicated loan amendments; and
  • negotiation with ad hoc creditor’s committees.
• With respect to each of the foregoing, how to avoid preference and fraudulent conveyance challenges by other creditors.
• In-court strategies to provide liquidity such as DIP financing.
• Focus on certain industries, such as retail and agribusiness.

Watch here