AWARDS: Restructuring

AWARDS: Restructuring

Corporate & Sovereign Strategy Mexico

Mexican homebuilder Corporación Geo carried out one of the most challenging restructuring processes in Mexico and Latin America during the awards period, cutting its debt by 34 billion pesos ($2.6 billion) and reaching an agreement with a substantial portion of its more than ten thousand creditors, including banks, bondholders and suppliers. To execute the deal, it made use of a new legal framework for restructuring that allowed the company to streamline the process with a pre-packaged approach. Other Mexican homebuilders Homex and Urbi entered the same restructuring process after Geo blazed the trail. “Geo was a pioneer in various aspects of the new Concurso law, including Mexico’s first ev

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