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    “It always gets worse before it gets better …”

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    Rio de Janeiro is hosting the 31st Olympic games and the first games ever taking place in South America. It should have been a good year for Brazil, instead it is in the midst of political and economic uncertainty. Serasa-Experian, Brazil’s largest credit research firm keeps good track of the certainties.

     

    The numbers for recuperações judiciais (“RJ”)*), the Brazilian version of Chapter 11 or “reorganization” bankruptcy are going up dramatically. The difference between the January 2015 and January 2016 numbers for companies filing for RJ seem modest from 74 to 96 or 30 %, the combined January/February 2015 to January/February 2016 situation tells a different story. While 116 companies filed for RJ in January/February 2015, 251 companies filed in the same time period in 2016. This represents an increase of 116 %. The lion share with 208 of the filings are in the small and medium size company sector.**)

     

        

                                                                                                                                                                                       Serasa/ Rosemount Consulting Partners

     

    Until the end of 2013***) only 1 % or 45 out of 4,000 of companies filing for RJ were able to emerge out of it. Only 920 or 23 % of the companies had their restructuring plan approved by their creditors and 398 or almost 10 % went into liquidation.

                                                                                                                                                                      International Monetary Fund (IMF) Forecast

                                                                                                                                                                               Real GDP Growth (% Change)

                                                                                                                                                                        

     

    In our recovery and restructuring service we apply local Brazilian and global knowledge to help our clients navigate through these challenges. In some cases help them avoid claim situations through debt restructuring or if claims have been paid maximize their recoveries by first seeking commercial solutions and work together with our legal team. (David Menendez)

     

    http://www2.deloitte.com/content/dam/Deloitte/us/Documents/finance/us-advisory-spotli

    ght-on-brazil-cross-border-insolvency-recuperação-judicial-vs.-us-chapter-11.pdf*)

     

    http://oab-rj.jusbrasil.com.br/noticias/111936478/so-1-das-empresas-sai-da-recuperacao-judicial-no-brasil***)

     

    http://www.serasaexperian.com.br/release/indicadores/falencias_concordatas.htm **)

     

    “Rosemount drives forward with new strategy”

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    With a number of European banks and other financial institutions retracting from the trade and commodity finance market, opportunities to support the wind-down of their existing portfolios are appearing onto the market. Relative new comer Rosemount Consulting Partners is targeting banks and financial institutions that are looking to manage their legacy assets, specifically trade, commodity and transportation finance deals. Full article in September 2012 issue of the GTR Magazine.