RESTRUCTURINGS, WORKOUTS AND INSOLVENCY

SANTAMARINA Y STETA offers professional advice to its clients on financial reorganizations that they may require in order to continue with their economic activities.

We advised our clients on debt restructurings whether representing the debtors or the creditors. We maintain a firm commitment to advise and stand by our clients through the challenges involved in private reorganizations involving multiple creditors or multiple jurisdictions. In keeping with our guiding principles, we protect our clients’ interests while achieving a fair and equitable reorganization for all stakeholders involved and keeping an eye toward a successful exit from bankruptcy.

The firm has the experience and resources required to lead processes that arise from the current worldwide economical turmoil. The firm has been heavily involved in representing clients in some of the most notorious insolvency proceedings and restructurings going on now in Mexico, combining the expertise available in several practice areas within the firm.

We staff each project depending on the particular characteristics and needs. Each project is customarily lead by a partner expert in negotiations and restructuring, who receives the constant support and advise from other areas involved in each process, including tax, securities, labor, litigation, governmental lobbying, filings and procedures, and insolvency and bankruptcy.

Being a full service firm we are able to draw resources from several practice areas and give an overall advice to companies in distress beyond reorganizations and insolvency procedures, and address corporate, tax, employment and other concerns, such as mergers, divestitures, downsizings and cost reduction methods.

Often our clients have operations on both sides of the border, Mexico and the US, and cross-border restructurings raise complicated issues involving the laws of both countries. In such cases the firm has been active in the analysis of laws and practices of the two jurisdictions to formulate a thorough strategy, teaming up with foreign counsel. Certain cases have involved parallel proceedings under Chapter 15 of the US Bankruptcy Code for the Mexican insolvency proceedings to be recognized by the US courts and protect the assets of the client in the US from foreclosure or attachment.

SANTAMARINA Y STETA has participated in cases involving out-of-court restructurings and also in the filing of a “pre-packaged” insolvency proceeding, which has proven to be a solution for troubled but otherwise healthy companies to come out of the crisis, avoiding the complexity of court proceedings and to save much needed jobs and investments.