In the face of decreasing foreign investment and a severe economic downturn, Brazil has recently undertaken some significant changes in its fiscal and economic policies.
Brazilian Chapter 15s (PART II)
Although almost every chapter 15 case is filed at least in part to take advantage of the automatic stay to protect property located in the U.S., some cases are filed both to protect U.S. assets and prevent lawsuits from specific creditors.
Brazilian Chapter 15s (PART I)
Brazilian insolvencies have increased in recent years as a result of the economic recession, political instability, and corruption. Nine Brazilian debtors filed chapter 15 petitions in 2014 and 2015 combined compared with only nine in total prior to 2014. Below are examples of how Brazilian debtors have used chapter 15 as a way to effectuate their overall restructuring.
Most Mexican securitizations involve the use of a trust as the special-purpose vehicle. This has tax advantages because the sale of the asset may be tax exempt and, at the same time, it is generally considered a true sale. Additionally collateral trusts (fideicomisos de garantía) or payment-source trusts (fideicomisos de fuente de …