Francisco Javier Romano and Lautaro Ferro

PAGBAM assists Trafigura with debt restructuring

Pérez Alati Grondona Benites & Arntsen has assisted Trafigura PTE LTD in the judicial restructuring of the debt of Roch, a company engaged in the exploitation, exploration and marketing of oil and gas.

The restructuring of the debt, of approximately US$27 million, was filed by the company on 5 November 2020, in the framework of the insolvency proceedings.

The advice included the verification of the credit based on a Private Negotiable Obligation issued by Roch in December 2018 for US$5,000,000, whose original maturity was in December 2020, the negotiation of a package of new commercial and financial contracts with pledge guarantee, and the presentation at the meeting provided for in article 45 bis of the Insolvency and Bankruptcy Law, which took place on 16 May, in which the reorganisation proposal presented to the bondholders was approved, which was finally homologated on 14 July 2022.

PAGBAM’s team was led by partners Francisco Javier Romano (pictured left) and Lautaro Ferro (pictured right), assisted by senior associate David Alejandro Hinojosa.

L Giselle Estrada