Estudio Alegría, Buey Fernández, Fissore y Montemerlo is best known for the exceptional strength and depth of its debtor-side practice, and advises local and international debtors in restructuring litigation proceedings, as well as in out-of-court restructuring matters. The practice also advises on creditor-side mandates when called on. The team is co-led by Pablo Buey Fernández, Miguel Montemerlo, Gabriel Fissore and Javier Alegria, a cohort of experienced lawyers with expertise in debt and corporate restructurings, insolvency and bankruptcy proceedings, as well as M&A, capital markets and dispute resolution. Founding partner Héctor Alegría, who was appointed as the first chairman of the Argentine Securities and Exchange Commission and has served as both a national judge on commercial matters and as an alternate judge for the Supreme Court of Justice, continues to make his vast experience available to the team.
Bankruptcy and restructuring in Argentina
Estudio Alegría, Buey Fernández, Fissore y Montemerlo
Praxisleiter:
Gabriel Fissore; Pablo Buey Fernández; Javier Alegria; Miguel Montemerlo
Highlight-Mandate
- Lead bankruptcy counsel to major Argentine agro-export company Vicentin.
- Sole counsel to regional food company Molino Cañuelas, which – having failed to secure an APE – filed for reorganisation proceedings (‘concurso preventativo’) in 2021 in both its judicial restructuring agreement and various bilateral restructuring agreements with secured creditors.
- Representing a company operating in the power sector, as debtor, in its out-of-court agreement (APE).
Marval O’Farrell Mairal
Marval O’Farrell Mairal handles complex in-and-out-of-court bankruptcy and restructuring cases, including international and cross-border proceedings, with the firm able to support clients in New York court hearings from its New York office. Creditor-side mandates are a key source of work, with the practice able to draw on expertise from other teams in the key overlapping practice areas of banking, labour, tax and litigation. Of counsel Martín Campbell has more than 40 years of bankruptcy and restructuring experience and leads a practice that also draws on the vast experience of Julio César Rivera, a veteran insolvency law and dispute resolution expert; disputes and insolvency partner Julio César Rivera (h); and Gonzalo Fontana, an expert in bankruptcy, litigation, commercial and corporate law. Banking and restructuring specialist Roberto Silva Jr has departed to take up a role as the head of the National Securities Commission under the Milei administration.
Praxisleiter:
Martín Campbell
Referenzen
‘The team is always available in the bankruptcy and restructuring process. They have the experience to provide a unique look at all bankruptcy processes.’
‘They know our business and we trust their experience when making decisions.’
Kernmandanten
Project Twist
RR Donnelley de Argentina
Finning Argentina and Finning Chile
Credit Suisse
Cargill
ING Bank
Surcursal Tokio
Sumitomo Mitsui Banking
MUFG Bank
Plascar
Banco Comafi
Mercado Libre
Highlight-Mandate
- Advising ING Bank (Tokyo branch), Sumitomo Mitsui Banking and MUFG Bank in high-value reorganisation proceedings involving Vicentín.
- Advising Project Twist and the respective lenders, agents and trustees on a complex, cross-border matter related to the reorganisation of Italian debtor Officine Maccaferri.
- Advising Credit Suisse on the collection of the credit it has against BGN and the termination of a bankruptcy proceeding.
Naveira Truffat Martínez Abogados (NTMA)
Naveira Truffat Martínez Abogados (NTMA) specialises in supporting debtors in bankruptcy and restructuring matters and handles extrajudicial preventive agreements (APEs); other out-of-court proceedings; public debt restructurings and bankruptcies. The team is also known for guiding clients through complex liability restructurings and corporate reorganisations, including associated litigation, and is particularly recognised for its work on behalf of trustees in reorganisations and bankruptcies. The team is led by the vastly experienced bankruptcy and restructuring duo of Daniel Truffat and Oscar Martínez. The senior team also includes the bankruptcy-focused Fernanda Soria and Valentin Martinez, who covers corporate disputes, bankruptcy and reorganisations.
Praxisleiter:
Daniel Truffat; Oscar Martínez
Allende & Brea
Allende & Brea advises creditors and debtors across a wide range of bankruptcy and restructuring matters. The team represents debtors in reorganisation proceedings and out-of-court restructurings, and on the creditor side the the practice handles reorganisation and liquidations, creditor committee matters, the acquisition of bankrupt companies, foreclosure of securities and other related issues. The ‘commendable’ Cristián Fox appears regularly before bankruptcy courts and is known for advising trustees. He co-leads a multi-disciplinary practice alongside disputes expert David Gurfinkel and M&A and real estate practitioner Diego Botana.
Praxisleiter:
Cristián Fox; David Gurfinkel; Diego Botana
Referenzen
‘Allende & Brea’s bankruptcy team has proven invaluable in navigating the complex landscape of bankruptcy law in Argentina. Their expert guidance has not only provided clarity but has also empowered our understanding of the best strategies to manage our business operations within our Argentine subsidiary. Their collective expertise, reactivity and availability make them a highly recommended choice for businesses seeking comprehensive and effective legal counsel in this specialised area.’
‘Cristián Fox’s understanding of Argentine bankruptcy law, coupled with his strategic insights and experience, has been instrumental in devising effective solutions for our company. Fox’s ability to provide clear, concise advice tailored to our specific circumstances has been commendable.’
‘Associates Francisco da Silva Esteves and Carla Pérez Salvo have always demonstrated thorough analysis and attention to detail. The team’s proactive approach and responsiveness have instilled confidence in our dealings with Allende & Brea.’
Kernmandanten
NV Desmet Ballestra Group
Oil Combustibles
Mefro Wheels
Wärtsila Group
Unipar Indupa
LSG Sky Cheffs
Jardines Maternales Dialogos
Chubb Argentina de Seguros
Syngenta Agro
Codere Group
Highlight-Mandate
- Advising and representing the Trustee appointed by the bankruptcy court in the bankruptcy proceedings of Oil Combustibles.
- Advising Desmet Ballestra Group in claims filed by the judicial liquidator of Allocco, a former controlled company sold to a third party, and currently in bankruptcy.
- Advising Chubb Seguros de Argentina in relation to IMPSA’s out-of-court reorganisation proceeding.
Beccar Varela
Beccar Varela works on financial restructurings, bankruptcies and insolvency proceedings and is known for leveraging its full-service capabilities to provide clients with a multidisciplinary offering that covers the disputes, M&A, banking and consumer law aspects of bankruptcy and restructuring. Debt restructurings, debt-for-equity swaps, out of-court negotiations, prejudicial proceedings, credit recovery and enforcement of guarantees are all covered. The firm is particularly well known for its expertise in bankruptcy and insolvency litigation, managing a vast portfolio of cases at the national and provincial levels. Martín Gastaldi is a respected insolvency and dispute resolution partner and co-leads the team with the private equity-focused Tomás Allende, banking specialist Pablo Torretta, corporate lawyer Felipe Videla and litigator Federico Sosa.
Praxisleiter:
Martín Gastaldi; Tomás Allende; Pablo Torretta; Felipe Videla; Federico Sosa
Referenzen
‘Detailed, neat and committed service.’
‘A team of very good negotiators who always prioritise a good agreement over risking a relationship. Martín Gastaldi and Federico Sosa stand out for keeping very close to their clients and for always being available.’
‘Beccar Varela’s insolvency and bankruptcy team is very good. They always respond with responsibility and dedication and are able to handle complex matters.’
Kernmandanten
BAF LatAm Credit Fund
BLC Asset Solutions
Deutsche Bank
Alvarez Marsal
Puente Hermanos
Landesbank Baden-Würtemberg
BTG Pactual
Banco BISA
Citibank
Highlight-Mandate
- Advised BLC Asset Solutions on a complex loan renegotiation involving Gemsa.
- Advising BAF on the the default of a loan issued to LRI.
- Advised Deutsche Bank, as a secured creditor, in a bilateral restructuring agreement with Molino Cañuelas.
Bomchil
Bomchil advises debtors and creditors in complex cross-border restructurings, drawing on the expertise of colleagues from multiple departments to provide clients with comprehensive, multi-disciplinary support that covers liability management, security interest foreclosures, creditor committee mandates and distressed asset acquisitions. Local debtors regularly turn to the firm for advice on preservation proceedings under Chapter 15 of the US bankruptcy code. Insolvency experts Tomás Araya and Martín Girotti co-lead the practice alongside new partner Julia Villanueva, who has joined the firm after serving as a Commercial Court of Appeals judge. Melisa Romero is well-versed in bankruptcy and insolvency matters and is involved in the team’s largest cases.
Praxisleiter:
Tomás Araya; Martín Torres Girotti; Julia Villanueva
Kernmandanten
Gramercy
Banco Macro
Comerica
Lesaffre
Entre Ríos Crushing
Tennenbaum Living Trust
Metalpar
Shareholders of Banco Bisel and Banco de Entre Ríos
Mills Capital Group
Armaduras del Sur
Shareholders of 3Arroyos
Highlight-Mandate
- Advising the shareholders of Argentine steel manufacturers Armaduras del Sur and Prearmar, on company reorganisations. Reorganisation plans have been successfully approved by the courts.
- Representing Gramercy in the refinancing of certain credit facilities granted to Grupo Unión, an Argentine non-banking lending company.
- Representing Entre Ríos Crushing in its reorganisation proceedings involving more than 200 creditors. The process includes a complex negotiation and restructuring of financial debt belonging to the main five Argentine banks.
Bruchou & Funes de Rioja
The experienced Bruchou & Funes de Rioja team leverages the firm’s exceptional banking industry track record to secure high-profile creditor side work on the largest, most complex cross-border and domestic bankruptcy and restructuring proceedings. The practice, which also take ons debtor-side mandates, provides comprehensive bankruptcy and restructuring coverage that encompasses complex judicial restructurings, liquidation proceedings, bankruptcy litigation and testing legal structures for potential dispute scenarios. Martín Beretervide, a formidable commercial litigator and bankruptcy expert, leads a team that also draws on the extensive experience of respected banking and finance partner Matías López Figueroa and specialist bankruptcy and disputes practitioner Francisco Camauer. Associates Victoria Nadal and Martin Freier lead the second line.
Praxisleiter:
Martin Beretervide
Referenzen
‘Professionalism and teamwork are hallmarks of this practice.’
‘Bruchou & Funes de Rioja handle very complex work with a high level of professionalism and efficiency.’
‘Professionals who demonstrate a high level of legal knowledge and ability to handle complex matters. The knowledge of procedural law and a strong ability to transmit information to the client is exceptional.’
Kernmandanten
Ribera Desarrollos
Trident Southern Explorations
Tetra Pak
Grupo ALL
EP Energy and Have Result Investments
Orbis Mertig
Itaú Unibanco – Nassau Branch
JP Morgan
Bankinter
Natixis (NY branch)
Federated Project Fund
Credit Agricole
Alstom
Inter-American Development Bank/Corporación
Interamericana de Inversiones
Banco de Galicia y Buenos Aires
Amec Foster Wheeler Americas Corp
Highlight-Mandate
- Advising the ad-hoc steering committee of the international financial creditors of Vicentin in the judicial proceeding in Argentina, with an outstanding debt of roughly $1.5bn.
- Advising many of the main creditors of Molino Cañuelas in its restructuring proceeding.
- Advising Ribera Desarrollos on its debt restructuring
Lorente & Lopez Abogados
Lorente & Lopez Abogados is a specialist bankruptcy and restructuring boutique that is well known for the strength of its debtor-side practice and for helping companies in financial distress to navigate pressing restructurings and reorganisations. Clients call on the firm to create solutions that keep creditors at bay as companies restructure. Javier Armando Lorente, a reference for insolvency law whose practice spans all the aspects of bankruptcies and restructurings, as well as handling proceedings before US bankruptcy courts, co-leads the team with Ariel Di Bártolo, who focuses on complex litigation, corporate conflicts and restructuring, and Mariana Russo, a key name for restructuring-related disputes.
Praxisleiter:
Javier Lorente; Ariel Di Bártolo; Mariana Russo
Referenzen
‘A team of professionals dedicated to keeping their clients informed of new regulations, resolutions and decrees.’
‘They stand out for their dedication and sound analysis of the situations facing their clients.’
‘A team of specialists covering all aspects of restructurings.’
Kernmandanten
Necxus Negocios Informáticos
Vacavaliente
Ezentis Argentina
Compañía Argentina de Alimentos
HCA
Grupo Uno Medios
Overseas Properties
Tipoiti
Colortex
Ingeniería Gastronómica
Antonio Barilari
Wenance
Editorial Atlantida
Edisud
Planet Partners
Highlight-Mandate
- Advising on the complex reorganisation of Grupo Uno Medios.
- Advising Petrolera Argentina on proceedings that are pending resolution before the Supreme Court of Justice.
- Advised on the restructuring of Compañía Americana de Alimentos.
Abeledo Gottheil Abogados
Abeledo Gottheil Abogados has extensive experience in insolvency cases, settlements, reorganisation agreements and restructurings, representing debtors, creditors and other market participants in both judicial and out-of-court proceedings. The team is regularly called on to participate in steering committees and court-designated creditor committees and has litigated frequently in the Argentine courts. The practice is co-led by Federico Osvaldo Valiño, who handles bankruptcy and insolvency litigation and also advises reorganisations and restructurings, and Leonardo Pablo Cippitelli, who focuses his practice on bankruptcy, insolvency and shareholder litigation, as well as arbitrations. Veteran receivership, bankruptcy and dispute resolution lawyer Hernán Martín Oriolo provides additional senior-level resources, with associate Alfredo Vitolo, who joined from Estudio Alegría, Buey Fernández, Fissore y Montemerlo in 2023, being a key second line contact.
Praxisleiter:
Federico Osvaldo Valiño; Leonardo Pablo Cippitelli
Referenzen
‘A team with solid experience in commercial litigation and an ability to design creative solutions to problems.’
‘The partners in charge take total ownership of all client work, add value and are always available to assist clients.’
‘Excellent, specialist professionals who are pragmatic and always up to date.’
Kernmandanten
Givaudan Argentina
Grupo Romero y Nuñez Del Prado
United Grain Corporation
San Miguel Global
Danisco US
Finning Caterpillar
ZF Groups
La Mercantil Leon
Cepas
Compañía General de Combustibles
LG Electronics
Pioneer Argentina
Termomecánica Sao Paulo
Geowell
Highlight-Mandate
- Advised San Miguel Global in the negotiation and resolution of disputes raised with different debtors of the company, providing legal advice on legal action strategies and legal advice on real estate and mortgage sales agreements.
- Legal advice to different clients from Bolivia on the José Cartellone Construcciones Civiles receivership.
- Advised Finning on CPC’s (Grupo Indalo) receivership process, including active participation in its creditor’s committee to monitor debtor compliance with the approved reorganisation plan.
Aguirre Saravia & Gebhardt
Contentious bankruptcy work, insolvencies and restructurings are the main focus areas for Aguirre Saravia & Gebhardt, which represents debtors and creditors. Marcelo Gebhardt, an experienced bankruptcy and insolvency lawyer, leads the team.
Praxisleiter:
Marcelo Gebhardt
Highlight-Mandate
- Co-counsel to IMPSA on its out-of-court reorganisation proceeding.
- Representing Bienes Raíces de Capitales Privados in relation to a default on a $10m facility granted by Banco Hipotecario.
Alfaro Abogados
International companies with subsidiaries in Argentina turn to Alfaro-Abogados for support in bankruptcy and restructuring situations, with the practice being particularly well-known for its international lender practice, providing guidance on how to protect value against a backdrop of high inflation. The team also works with debtors and has sovereign debt restructuring experience. Gabriela Carissimo leads the practice and covers complex litigation, restructuring proceedings, tax disputes, debt collection and enforcement proceedings.
Praxisleiter:
Gabriela Carissimo
Kernmandanten
Acyndar Pymes
Aval Federal
Bodegas Salentein
CCA
Red Surcos
Climate, Controls and Security Argentina
Highlight-Mandate
- Assist Dutch group Salentein’s companies in Argentina in the event of debtor restructurings and bankruptcies.
- Advise on the execution of the credit instruments issued by Aval Federal for the financing of companies.
- Advising Acindar Pymes on a debt restructuring agreement.
Hope, Duggan & Silva
Hope, Duggan & Silva works with both debtors and creditors in a wide range of contentious and non-contentious bankruptcy and restructuring proceedings. The team is particularly sought out but international banks, as well as Argentine corporates approaching refinancing maturity walls. Well-regarded corporate and banking veteran Juan Duggan co-leads the practice with Gustavo Vayo, a bankruptcy, litigation and arbitration practitioner, and experienced litigator and restructuring lawyer José Bo.
Praxisleiter:
Juan Duggan; Gustavo Vayo; José Bo
Mitrani Caballero & Ruiz Moreno Abogados
Mitrani Caballero & Ruiz Moreno Abogados handles complex insolvency cases and corporate restructuring proceedings, working with debtors, creditors and trustees on reorganisations and bankruptcy litigation. The team handles the prosecution and defence of bankruptcy litigation, including creditors’ rights and officer and director liability, as well as contentious and non-contentious corporate reorganisations. The practice is co-led by Gustavo Cedrone, who covers public law, arbitrations and energy; capital markets specialist Julio R. Martínez; and versatile corporate and transactional lawyer Carlos Trogolo Eliçabe.
Praxisleiter:
Gustavo Cedrone; Julio R. Martínez; Carlos Trogolo Eliçabe
Highlight-Mandate
- Counsel to Bunge in relation to the bankruptcy proceedings of Vicentin.
Pérez Alati, Grondona, Benites & Arntsen
Pérez Alati, Grondona, Benites & Arntsen focuses on representing creditors, debtors, trustees and ad hoc creditors’ committees in complex court and out-of-court restructurings. The team has a particularly strong creditor-side practice, where it advises on debt reduction, restructuring and recapitalisations, and is also sought out for its expertise in extrajudicial preventive agreements (APEs) and for supporting creditors filing proof of claims in company reorganisation proceedings. The team is closely interlinked with the firm’s other departments and is co-led by the M&A-focused Alan Arntsen; Diego Redonnet, who handles capital markets and M&A; litigator Lautaro Ferro; banking specialist María Gabriela Grigioni; and Guillermo Quiñoa, who takes point on real estate matters and litigation.
Praxisleiter:
Alan Arntsen; Guillermo Quiñoa; Diego Serrano Redonnet; María Gabriela Grigioni; Laurato Ferro
Referenzen
‘An experienced team in the field of restructuring and bankruptcies.’
‘A proactive team, led by highly experienced partners.’
Kernmandanten
Banco de la Nación Argentina
Banco Provincia de Buenos Aires
Banco de Galicia y Buenos Aires
Banco Hipotecario
ABN AMRO Bank
Banco BBVA Argentina
Banco Santander Argentina
Banco Macro
UBS Securities
Louis Dreyfus Company Suisse
Highlight-Mandate
- Advised Trafigura through the judicial restructuring of the debt of Roch.
- Advised Louis Dreyfus Company Suisse in the filing of a proof of claim in the reorganisation proceeding (concurso preventivo) of Vicentin.
- Advised Aval Federal in the filing of the proof of claim in the reorganisation proceeding (concurso preventivo) of Ribera Desarrollos.
Richards, Cardinal, Tützer, Zabala & Zaefferer
Richards, Cardinal, Tützer, Zabala & Zaefferer‘s cross-functional team helps creditors, shareholders and investment funds through judicial and out-of-court debt restructurings, reorganisations and insolvencies. The practice is co-led by veteran restructuring and company reorganisation practitioner Jorge Tützer and the well-reviewed Sebastián Borthwick, who covers bankruptcy, restructuring, corporate and M&A work. The experienced Calixto Zabala provides additional senior-level expertise.
Praxisleiter:
Jorge Tützer; Sebastián Borthwick
Referenzen
‘Sebastián Borthwick stands out. He has solid knowledge and experience. A great person and a great professional. He is always available and attentive to the needs of his clients.’
‘Quality professional advice.’
‘A very good team with experience in judicial bankruptcy issues.’
Kernmandanten
Metrogas
Aguas Argentinas
Atanor
Accenture
Microsoft Corporation
Chubb Seguros
Sappi
Frigorífico Regional Industrias Alimenticias Reconquista
Braunco
Transportadora de Gas del Sur
LM Wind Power
Highlight-Mandate
- Advised Aguas Argentinas in its ongoing insolvency proceeding (concurso preventivo), with more than 1,200 claims recognised by the court, as well as cross-claims between the debtor and the National Government and federal agencies.
- Advised MetroGas in its ongoing insolvency proceeding (concurso preventivo).
- Advised LM Wind Power (part of the GE renewable energy business) in an out-of-court restructuring proceeding (APE) filed by IMPSA.
Salaverri, Burgio & Wetzler Malbran
Debt restructuring work – particularly on the creditor side – is a key source of work for Salaverri, Burgio & Wetzler Malbran, which handles both judicial proceedings and out-of-court company reorganisations. The team is co-led by litigation and insolvency lawyer Germán Wetzler Malbrán and dispute resolution partner Damián Burgio.
Praxisleiter:
Damián Burgio; Germán Wetzler Malbrán
Highlight-Mandate
- Counsel to GEMSA on the restructuring of $43m in outstanding debt related to an original $50m loan from BLC.
Zang, Bergel & Viñes Abogados
Zang, Bergel & Viñes Abogados is best known for supporting creditors through court and out-of-court restructurings and advising on distressed M&A deals. Chapter 11 and bankruptcy proceedings are also covered. The team is headed up by seasoned litigation, banking and M&A partner Francisco Roggero, with the well-reviewed associate Agustina Torre, who works on business reorganisations and liquidations, providing second-line support.
Praxisleiter:
Francisco Roggero
Referenzen
‘The firm’s restructuring, insolvency and distressed M&A practice is unique. It combines solid professional and academic experience, with great practical experience, innovation and responsiveness.’
‘Francisco Roggero has many years of experience in the sector and knows the market very well. He is innovative and handles both extrajudicial and judicial restructuring processes very well. Agustina Torre is a leading figure in the insolvency area in Buenos Aires and is recognised by peers and clients.’
Kernmandanten
Banco Itaú
Banco Hipotecario
HSBC
BAF Latam Trade Finance Fund
Banco Internacional de Costa Rica
Itaú Unibanco Nassau Branch
Perfeta Producciones
Parque de la Costa
BACS Banco de Crédito y Securitización
Radiodifusora
Danone
Zofingen Investment
Cartellone do Brasil
Fenix Entretainment Group
Highlight-Mandate
- Retained by BAF Latam Trade Finance Fund for representation in the insolvency process of José Cartellone Construcciones Civiles.
- Representing Banco Hipotecario in the restructuring proceedings of MolCa Group.
- Advising Banco Hipotecario in the Vicentin restructuring process.