Rebaza, Alcázar & De Las Casas advised Acceso Crediticio S.A. (“Acceso”) in the simple reorganization and related agreements for the wind down of Acceso’s current portfolio within the framework of a financial restructuring against more than thirty (30) international financial creditors of Acceso (the “Creditors”).
The simple reorganization and the agreements for the wind down of Acceso's portfolio were entered into pursuant to the terms established under general agreements, governed by the laws of the State of New York, United States and entered into at the end of July 2024, for the out of court restructuring of its financial debt with the Creditors, which exceeds the amount of US$ 200 million. Rebaza, Alcazar & De Las Casas also advised Acceso on the Peruvian legal aspects during the review and negotiation of such agreements which established terms and conditions for the Lenders to decide in their best interest the mechanisms for the recovery of their debts (either through negotiations for a potential debt restructuring or through the structuring and implementation of an ordered procedure for the wind down of the current portfolio of Acceso under the control and supervision of the Lenders).
Acceso, incorporated under the laws of the Republic of Peru, is a company that until the beginning of September 2023, had an authorization from the Peruvian Superintendence of Banking, Insurance and AFP to operate as a non-authorized financial system entity to take deposits from the public, and has been offering financial intermediation mainly for the financing of the acquisition of motor vehicle for private purposes and also for taxi use.