Minera Tres Valles Reorganization plan
1. Deal Description
Guerrero Olivos’ bankruptcy and restructuring team represented Anglo American Marketing Limited and GAM Kimura Master Fund Limited as the main secured creditors of the reorganization plan proceeding of Minera Tres Valles SpA, for a syndicated loan in the amount of USD45 million. This reorganization plan was very complex and included several litigious aspects such as the hostile position of certain creditors and the determination whether other majority creditors should be considered as related parties or not.
Also, our banking team represented Citicorp International in the said process, as Agent for the aforementioned syndicated loan, collaborating with the strategy of the lenders and overseeing Citi’s rights as security agent.
The reorganization plan was approved on September 4, 2020.
2. Counsel list
Counsel to Anglo American Marketing Limited, GAM Kimura Master Fund Limited and Citicorp International: Guerrero Olivos
Partners: Sergio Yávar, Tomás Kubick, Pedro Lyon, Macarena Ravinet and Benjamín Pérez. Senior associate Benjamín Novoa. Associates: Antonia Namur, Jerónimo Zabala and Nicolás del Real
Counsel to Minera Tres Valles SpA: Nelson Contador & Compañía
3. Date of closing
04/09/2020
4. Deal Value
USD45 million
5. Jurisdictions involved
Chile