Firms To Watch: Restructuring and insolvency

Boutique firm LMorato Advogados was established in December 2020 by former Tauil & Chequer Advogados partner Leonardo Morato and specialises in debt restructuring, litigation and distressed M&A.
Lobo de Rizzo Advogados has an active creditor-side restructuring practice, which is led by Luis Fernando Guerrero and Gabriel José de Orleans e Bragança.

Restructuring and insolvency in Brazil

Felsberg Advogados

Felsberg Advogados has a long history advising on Brazilian restructuring and insolvency cases. This is thanks in part to the pioneering expertise of founding partner Thomas Benes Felsberg, who remains a leading figure in the market. He is backed by a strong team of partners, including Fabiana Solano and Clara Moreira Azzoni. The team regularly advises creditors and distressed-debt investors, but it is for its debtor-led work that it is best known. Its workload encompasses advice on out-of-court restructurings and complex judicial insolvencies. Recent mandates include assisting Renova Energia on its R$3.1bn judicial recovery and debt restructuring, while on the creditor side, it assisted 18,000 bondholders on the restructuring of toll road company Concessionária Rodovias do Tietê.

Practice head(s):

Thomas Felsberg; Fabiana Solano; Clara Moreira Azzoni


‘Deep knowledge of the legislation and jurisprudence of  judicial recovery. A full service firm: in addition to questions related to restructuring, it has the ability to support all other legal segments.’

‘Fabiana Solano: deep knowledge, support and coordination of all customer needs, empathy. Strategist, negotiator and conciliator.’

Key clients

Renova Energia

Grupo Moreno


Caixa Economica Federal

Livraria Cultura

Isolux Corsan Corvian



Atlas Eletrodomésticos

Grupo Elektra

Work highlights

  • Advising Renova Energia on its judicial recovery and R$3.1bn debt restructuring process, as well as in corporate matters regarding the relationship between the board members and the partners, and in relevant financing agreements.
  • Advising Brazilian sugar and ethanol producer Grupo Moreno on its filing for judicial recovery, as well as in tax matters.
  • Represented bookstore chain Livraria Cultura on its R$285m judicial reorganisation.

Machado Meyer Sendacz e Opice Advogados

'Extremely proactive and effective', Machado Meyer Sendacz e Opice Advogados is a top destination for major creditors, and its role on the market's largest restructurings illustrates its expertise in this area. Notable highlights in this regard included its advice to Itaú Unibanco and Banco Bradesco on the restructuring of Odebrecht Group (Brazil's largest restructuring to date), and its sugarcane and alcohol division, Atvos Group. Coupled with this is the firm's track record in debtor-in-possession (DIP) financings, and its advice to distressed debt investors. Key members of the team include Renato Maggio on the debt restructuring side, and Renata Martins de Oliveira Amado for related contentious proceedings. Adriano Schnur Gabriel Ferreira, Rafael Carretero and Camilo Torres Gerosa Gomes are also highly active in this area.

Practice head(s):

Renato Maggio; Renata Martins de Oliveira Amado


‘Machado Meyer is highly qualified from a technical point of view in processes of restructuring and judicial recovery in Brazil and abroad. Ultra organised staff and quick service at any time, with solutions appropriate to the customer’s need.’

‘It is a multidisciplinary firm with top professionals in every subject. They are up to date and see the spread of information and knowledge among the most experienced lawyers with the younger ones.  They are extremely proactive and effective.’

‘Renata Oliveira, Adriano Schunur, Camilo Gerosa Gomes, Andre Ericsson and Pedro Jardim: They have an excellent technical capacity for deals with large banks and companies. An excellent team.’

‘Adriano Schnur has great professional experience, technical knowledge and negotiating qualities.’

Key clients


Banco BTG Pactual

Banco Bradesco

Farallon Capital Management

Banco do Brasil

Itaú Unibanco

Jive Investments

Banco Santander (Brasil)

Caisse de dépôt et placement du Québec

Ecorodovias Infraestrutura e Logística

Work highlights

  • Acted as counsel to Itaú Unibanco  and Banco Bradesco as creditors in the judicial restructuring of Odebrecht Group.
  • Acted as counsel to Itaú Unibanco and Banco Bradesco in the restructuring of Atvos Group (sugarcane and alcohol division of Odebrecht).
  • Advised Itaú Unibanco, Banco Santander (Brasil) and other supporting creditors in the pre-packaged reorganisation proceeding of Restoque Comércio e Confecções de Roupas, a publicly traded company.

Pinheiro Neto Advogados

Pinheiro Neto Advogados has one of the leading restructuring and insolvency teams in the market, where it provides comprehensive support to a wide range of creditors and debtors. The firm has played a prominent role on some of the country’s largest restructurings, particularly on the creditor side. Its expertise spans DIP financings, distressed acquisitions and sales, capital markets, and judicial and extra-judicial reorganisations. Among the partners, the highly rated Luiz Fernando Valente de Paiva has a sterling track record in complex litigations and out-of-court debt restructurings; Giuliano Colombo is another key partner, supporting debtors and creditors, including shareholders and ad hoc bondholder committees; and André Moraes Marques and recently promoted partner Thiago Braga Junqueira are also making strong names for themselves.


‘Thiago Junqueira is part of a new generation of lawyers more pragmatic and adjusted to the reality of today. Practical and direct advice, with examples and jurisprudence, for his age a true library.’

All interaction with the office has been simple and hassle-free. Availability almost 24/7, which is important. The information is accurate and concise.

Key clients

Banco BTG

Golden Tree Capital Management


Lineas – Concessões de Transportes (Líneas)

Piemont Holding Participaçoes

Credit Agricole Corporate & Investment Bank

Natixis North America

Via Varejo

Gramercy Capital Management


CHS  Agronegócio – Indústria e Comércio



Intesa Sanpaolo, Hong Kong Branch

Canara Bank, London Branch

State Bank of India, London Branch

ABN Amro Bank

Bayer Brazil

Standard Chartered Bank

Société Générale

Tecnoloc Locações de Máquinas e Equipamentos

Jive Investments


Work highlights

  • Advised the ad hoc group of bondholders and backstoppers, including Golden Tree Capital Management, on the entire restructuring process of Oi.
  • Assisting Titan Venture Capital e Investimentos in the potential acquisition of Oi’s data centres under the judicial reorganisation proceedings.
  • Advising TIM on the potential acquisition of Oi’s mobile telecommunication assets/business under the judicial reorganisation proceedings.

TWK Advogados

Highly qualified, dynamic and attuned to recent legislative discussions and jurisprudence‘, insolvency boutique TWK AdvogadosComparative Guides promotional icon has established an extremely strong reputation for its debtor-side work. The team’s expertise covers the full range of matters, from out-of-court debt renegotiations and restructurings, judicial restructurings and liquidations, as well as distressed M&A and financings. The firm combines a mix of experience and youth, with name partners Joel Luís Thomaz Bastos, Ivo Waisberg and Bruno Kurzweil de Oliveira offering an impressive range of contentious and non-contentious expertise. Other key partners include Adriana Maria Cruz Dias de Oliveira, Herbert Morgenstern Kugler and Gilberto GornatiLais Nicole Luizetti and Beatriz Delácio Gnipper also receive praise.

Practice head(s):

Joel Luís Thomaz Bastos; Ivo Waisberg; Bruno Kurzweil de Oliveira; Herbert Morgenstern Kugler; Gilberto Gornati; Adriana Maria Cruz Dias de Oliveira


‘Thomaz Bastos, Waisberg, Kurzweil Advogados has a highly qualified team, always updated and with a business mindset, allowing its clients better decision-making.’

‘Bruno Kursweil and Adriana de Oliveira have qualities that distinguish them from competitors especially as a team, regardless of the seniority level. Bruno for me is one of the best lawyers today when the matter involves insolvency, whether on the side of the debtor or the creditor / investor, always creative and with 360° vision. Adriana works closely to the client, bringing the necessary comfort to their decision making.’

‘Strong preparation of innovative theses, with depth, that highlight them in the national market.’

‘Ivo Waisberg and Gilberto Gornati: excellent, safe, with ample business vision!’

I believe that the firm’s biggest differential is its strategic performance aligned with the client’s best interests, combined with the team’s high technical quality and pragmatism in risk management. The team is highly qualified, dynamic and attuned to recent legislative discussions and jurisprudence, which may impact the company’s case. In our opinion, it is the best office in the area.’

Dr. Adriana Dias de Oliveira deserves to be highlighted for her technical quality, in-depth knowledge of the relevant points of each front involved in the Company’s case and availability to assist us. Dr. Adriana has a great strategic vision, communication skills to translate legal points for the Company’s executives. In addition to being extremely agile and creative in the search for the best solution for the client.’

Dr Lais Nicole Luizetti also deserves to be highlighted for her great dedication, professionalism and seniority. She has an excellent up-to-date technical knowledge and her performance in the advisory area was extremely relevant in some highly complex negotiations at the company.

Dr. Beatriz Delácio Gnipper is a very dedicated and didactic professional. She has excellent technical knowledge and has always collaborated positively in all interactions with the Company.’

Key clients


Terra Santa


Banco BTG Pactual

Queiroz Galvão Energia


Usina Santa Terezinha

Máquina de Vendas



Zion Investimentos

Santa Constancia

Agro Z


Lone Star


Work highlights

  • Advised Taurus Brazil, a listed company under B3, in restructuring its financial debts.
  • Advised Terra Santa, a publicly held agricultural commodities producer focused on the production of soybean, corn and cotton, in restructuring its financial debts.
  • Acted as counsel to Atma in its bankruptcy filing (recuperação extrajudicial); the case involved the restructuring of all financial debt of the company and its operational subsidiary (Liq Corp).

BMA - Barbosa, Müssnich, Aragão

BMA – Barbosa, Müssnich, Aragão has represented the debtors in some of Brazil’s largest restructuring and insolvency proceedings in recent years. Its advice to Queiroz Galvão Energia, Oi and Sucden do Brasil are demonstrative of the firm’s capacity to handle high-profile bankruptcy claims, as well as non-judicial restructurings. The firm has built up an especially strong reputation for bankruptcy litigation, where partners such as Felipe Evaristo dos Santos Galea and Eduardo Guimarães Wanderley are particularly active. The versatile Sergio Savi has strong credentials both for contentious and non-contentious restructuring advice. Since publication, the department has been further strengthened by the arrival of Luciana Celidonio from Tauil & Chequer Advogados, in November 2021.

Practice head(s):

Sérgio Savi; Felipe Galea


Impressive restructuring team with deep knowledge of the Brazilian market and expertise in advising foreign investors in Brazil.’

Eduardo Guimarães Wanderley is recommended.’

Key clients

Queiroz Galvão Energia

Sucden do Brasil

Jive Asset Gestão de Recursos


Sul América Capitalização

Geyve Participações e Serviços Fiduciários


Multi-Rio Operações Portuárias

Credit Suisse Brazil (Bahamas)

Banco BTG Pactual

Work highlights

  • Co-advised Queiroz Galvão Energia (QGE) and advised Queiroz Galvão on judicial and extra-judicial proceedings, including all negotiations with QGE’s main creditors in parallel with Queiroz Galvão Group’s debt restructuring.
  • Acted as lead counsel to Oi in the biggest ever court-supervised debt restructuring in Latin America, involving more than 55,000 creditors.
  • Advising Sucden do Brasil as creditor on the bankruptcy liquidation proceeding of sugar/ethanol group Floralco, including litigating in the bankruptcy proceeding in order to enforce its collateral.

Demarest Advogados

Demarest Advogados' debtor and creditor clients benefit from the firm's strong multidisciplinary offering, which includes good support in related litigation, M&A, tax and finance. The firm can often be found advising on some of the more high-profile bankruptcy proceedings to hit the market, a notable recent example being its role as lead Brazilian counsel on LATAM Airlines' Chapter 11 bankruptcy filed in New York. Another area of strength is the firm's advice to investors in distressed debt, and to creditors in agribusiness-related restructurings. Celso Xavier and insolvency litigator Guilherme Fontes Bechara jointly lead the well-regarded team.

Practice head(s):

Celso Xavier; Guilherme Bechara


‘Qualified team with excellence in the provision of services and quick answers.’

‘Guilherme Bechara’s team is highly qualified and has demonstrated extensive knowledge on the subject, thus standing out in relationship with other staff.’

‘The lawyers actually “wear the shirt” of the client, and act as part of the in-house team fully immersed and involved with the interests of the client,  a true differential.’

‘I would highlight Guilherme Bechara, for the personalised service, quickness and for his dedication to customers. Celso Xavier, for the deep knowledge and notable ability to solve complex problems involving different jurisdictions.’

Key clients

LATAM Airlines Group

Everis Spain

Strategi Capital

Phosagro Trading

Uralkali PJSC

Novo Banco

Crecera Capital Management

Jive Investments

Banco Modal

Credit Agricole Corporate Investment Bank

Work highlights

  • Representing LATAM Airlines Group, including the Brazilian entities TAM and TAM Linhas Aéreas, as the company filed for Chapter 11 with the Bankruptcy Court of New York in May 2020; this is the first Chapter 11 case ever filed by a Brazilian company.
  • Representing LATAM in the Brazilian-law matters of a debtor-in-possession financing (DIP financing) valued at $2.4bn and secured in the context of the Chapter 11 cases of LATAM Airlines.
  • Representing Credit Agricole in the out-of-court restructuring of concessionaire Move São Paulo’s debt, related to the R$592m financing of the São Paulo Orange Line Subway (Line 6).

Lefosse Advogados

Lefosse Advogados' clients benefit from the strong focus which highly rated practice head Roberto Zarour brings to the firm's restructuring and insolvency practice. Coupled with the practice's specialised lawyers, the firm also draws on a pool of lawyers with related expertise, such as Raphael Nehin Corrêa, who is especially active on the contentious side. Meanwhile, Renata Cardoso adds experience in related corporate and finance transactions. This breadth has made the firm especially attractive to major banks, both on debt restructurings and judicial reorganisations and liquidations. High-profile corporate debtors also use the firm. Tatiana Flores is a name to note at the associate level.

Practice head(s):

Roberto Zarour


Tatiana Flores has maturity and extensive knowledge in the field.’

Key clients

Itaú Unibanco

Banco Santander (Brasil)

Banco Cargill

Banco Bradesco

Banco do Brasil

Work highlights

  • Advised Banco Santander on the judicial reorganisation proceeding of Odebrecht and other companies of the Odebrecht Group.
  • Advised Itaú Unibanco on the attempt filed by Oi to change its previously approved judicial recovery plan.
  • Advised Banco Cargill on the judicial reorganisation proceeding filed by Terra Forte and its shareholder.

Mange Advogados

Boutique law firm Mange Advogados is a well-known player in the restructuring and insolvency market thanks to its work in judicial and extrajudicial recoveries. Renato Luiz de Macedo Mange and Eduardo Foz Mange have established good names in the market, representing clients from a broad range of industries.

Mattos Filho

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados has a multi-faceted restructuring and insolvency team, which benefits from the expertise of lawyers from its banking, corporate and litigation departments. The team primarily represents creditors and investors, though it also assists debtors on non-judicial restructurings. Much of its work is complex in nature, including high-value DIP financings and distressed asset purchases, typically with a significant cross-border element. The firm has invested in the litigation side, where Alex Hatanaka is one of the lead partners, with several senior associate recruits in the past year. Marcelo Sampaio Góes Ricupero and Flavio Mifano typically handle matters on the corporate side, while banking and capital markets specialists Marina Anselmo Schneider, Frederico Kerr Bullamah and Bruno Mastriani Simões Tuca regularly lead on major debt restructurings.

Practice head(s):

Marcelo Sampaio Góes Ricupero; Alex Hatanaka; André Chateaubriand Martins; Frederico Kerr Bullamah; Marina Anselmo; Bruno Mastriani Simões Tuca; Daniel Miranda; Flavio Mifano


‘Excellent and well trained professionals, with easy access to multidisciplinary practices.’

‘The firm is full service. I’ve been using Alex Hatanaka in litigation. Very attentive, diligent and prepared.’

Multipractice office, I believe that today it is recognised among the greatest in the country in this regard. Excellent and well-trained professionals, with easy access to multidisciplinary practices. Our most recent contact is with partner Frederico Kerr: he is very well prepared for the practice, always managing to assess the scenarios holistically and bringing up themes that could go unnoticed.’

Key clients

The Carlyle Group

Finnvera PLC

Credit Agricole

Quadra Investimentos

Albright Capital Management

Banco Santander


Société Générale

Swiss Re Corporate Solutions Brasil Seguros

Novo Banco

Deutsche Bank


Alberta Management Corporation

Farallon Latin America Investimentos

Itaú Unibanco

Russian Export Agency

Banco BTG Pactual

QATAR Airways Investments (UK)

Work highlights

  • Avised Qatar Airways on the $2.45bn DIP financing to LATAM Airlines Group, while the company operates under bankruptcy protection in federal court in New York (Chapter 11).
  • Advised Farallon Latin America Investimentos on all aspects of the $615m (R$2.5bn) DIP Financing to Oi Group in the context of its judicial reorganisation proceeding.
  • Acts as legal counsel to Finnvera and Finnish Export Credit in all matters related to the amendment to the judicial reorganisation plan presented by Oi Group on June 2020.

Sergio Bermudes Advogados

Sergio Bermudes Advogados is especially well regarded for its contentious insolvency expertise, which forms a key part of its offering within its top-tier dispute resolution practice. The firm advises both creditors and debtors on high-profile bankruptcy filings and restructuring procedures. Marcelo Lamego Carpenter has nearly 30 years' experience in the market, and enjoys an excellent reputation for related litigation work. He is backed by a strong team, including partners Thaís Vasconcellos de Sá, Ricardo Loretti Henrici and Eric Cerante Pestre. The team also has good expertise in non-judicial restructurings and negotiations, and is especially active in the oil and gas, natural resources, telecoms and banking sectors.

Practice head(s):

Marcelo Lamego Carpenter; Ricardo Loretti Henrici

Key clients


Banco BTG Pactual

JP Morgan


Enforce Group

York Global Finance

Aurelius Capital

Banco Pan

Jive Asset Management


Work highlights

  • Representing several parties, including York Global Finance Fund, Globosat/Grupo Globo and others, in the R$80bn+ reorganisation proceedings of the Oi group.
  • Representing João Fortes Engenharia in its filing for bankruptcy – considered the first judicial restructuring filed after the pandemic decree in Brazil – in April 2020.
  • Representing Sete Brasil Group in its R$19.5bn judicial reorganisation.

Veirano Advogados

Veirano Advogados is best known for its advice to creditors, where it has built up an extremely good reputation for contentious and non-contentious insolvency and restructuring proceedings. The team works closely with members of the firm's corporate, banking and tax teams, ensuring that all bases are covered on debt restructurings, and distressed asset sales and acquisitions, where it also represents investors. The team is jointly led by Paulo Campana Filho, who is especially strong on the transactional and strategic advisory front, and Rio de Janeiro-based litigation partner Ricardo Gama, who has a notable track record in high-profile judicial reorganisations.

Practice head(s):

Ricardo Gama; Paulo Campana


‘Differentiated service, pro-deal lawyers and with a lot of quality involved. Total trust in the work of the Veirano team.’

‘Paulo Campana is professionally absolutely qualified, experienced and a good negotiator. Exceptional to have by your side in a transaction.’

Key clients

The Bank of New York Mellon

Natixis, New York Branch

Banco Bilbao Vizcaya Argentaria

Mufg Bank

Intesa Sanpaolo, New York Branch

Banco Itaú BBA

Banco Bradesco


Tim Celular


Nokia Solutions and Networks do Brasil Telecomunicações


Alvarez & Marsal

Planner Trustee Distribuidora de Valores Mobiliários

Deutsche Bank

RR Donnelley Editora e Gráfica

American International Group (AIG)

BTG Pactual

Yellow Solucões de Mobilidade

Grin Mobility

VCT Brasil Importação e Exortação

Work highlights

  • Advising the bridge lenders, Natixis, Banco Bilbao Vizcaya Argentaria, Sumitomo Mitsui Banking Corporation, MUFG Bank and Intesa Sanpaolo, on the judicial reorganisation proceeding of Odebrecht Group.
  • Advising multiple creditors holding claims in the Oi Group’s judicial reorganisation proceeding.
  • Advising Grin Group, a Brazilian group in the micromobility sector, in its judicial reorganisation proceedings.

Cescon, Barrieu, Flesch & Barreto Advogados

Cescon Barrieu is noted for its significant experience in major restructurings and bankruptcies. The firm has a good track record advising debtors and creditors on credit recovery proceedings, judicial and extrajudicial reorganisations, and distressed asset transactions across a range of key sectors, including oil and gas, shipping, infrastructure and telecoms. Practice head Fábio Rosas handles disputes and strategic advisory matters. Other key team members include banking partner Alexandre Gossn Barreto and highly rated José Luis de Rosa Santos, who made partner in November 2021.

Practice head(s):

Fábio Rosas


‘Jose Luis de Rosa, Roberto Lima and Fabio Rosas have a great understanding of the commercial issues involved in a restructuring.’

‘The team is always available to meet us and take our questions objectively, besides always demonstrating a great knowledge of the details of the case.’

Key clients

Brookfield Asset Management

Brookfield Brasil

Oaktree Capital Management

Archer Daniels Midland Company

Baldacci Pharma


Brasil PCH

BSB Energética

Unipar Indupa do Brasil

GE Energias Renováveis

IFC – International Finance Corporation

Work highlights

  • Advised Brookfield, one of the main shareholders and bondholders in Oi, in the negotiations and litigation related to its entities’ rights under the voting of the amendment to the Oi Group judicial reorganisation plan.
  • Advised Oaktree Capital Management on a debtor-in possession financing to LATAM Airlines Group as part of its Chapter 11 proceedings.
  • Acted on behalf of Baldacci Pharma’s interests in the R$60m debt restructuring of its Brazilian subsidiary with labour creditors, suppliers and banks.

Dias Carneiro Advogados

Dias Carneiro Advogados stands out for its expertise in insolvency proceedings and out-of-court debt restructurings. The firm has an active debtor-side practice, and also represents trade creditors in major bankruptcies. The team is led by the highly regarded Laura Mendes Bumachar, and is especially strong in litigation, as well as in cross-border matters. It also provides a significant amount of non-contentious advice, and was particularly active in the fallout of the Covid-19 pandemic, guiding clients through steps to avoid insolvency. Another key contact is Antonio Nachif, who has over 15 years' experience in the market.

Practice head(s):

Laura Mendes Bumachar


‘Laura Bumachar is a phenomenal practitioner in this space. Her many years of practice combined with a responsive and pragmatic approach make her stand out.’

‘Laura Bumachar and her team are in the top echelons of bankruptcy practice in Brazil. They are knowledgeable, responsive and pragmatic. ‘

Key clients

Arcadia Commodities Brasil

Bio Energias Comercializadora de Energia

Biofast Medicina e Saúde

Black&Decker do Brasil

Brasil Plural Special Situations Nonstandard Credit Investment Fund

China Development Bank

Czarnikow Brasil

Dominion Instalações e Montagens

Emsenhuber Advogados Associados

Interpart Planejamento de Negócios Empresariais

Mag Brasil Comércio e Assistência Técnica de Máquinas

M-SKO Investiments

Newton Sérgio de Souza


Oracle do Brasil Sistemas

Organización Corona

Petróleo Sabbá

Raízen Combustíveis

Raízen Energia

Suzlon Energia Eólica do Brasil

UBS Securities

Unicasa Comércio de Móveis


Work highlights

  • Provided an expert report on Brazilian insolvency law for the consideration of a dispute to be determined by a foreign court.
  • Representing Arcadia Commodities, the biggest individual creditor in Terra Forte group’s R$1bn judicial reorganisation.
  • Advising Raízen Combustíveis on matters of Brazilian law and liaising with foreign law firms to assist Raízen in relation to the cross-border effects of the Chapter 11 proceeding filed by LATAM Group before the Bankruptcy Court of the Southern District of New York.

Padis Mattar Advogados

'A team with deep knowledge and expertise for complex restructurings in Brazil', Padis Mattar Advogados (formerly Padis Advogados) has significantly enhanced its restructuring and insolvency credentials following the arrival of highly rated partners Eduardo Augusto Mattar and Renata Machado Veloso from Pinheiro Guimarães. The team has a good name for advising creditors, shareholders and debtors on highly complex judicial proceedings and out-of-court restructurings. Other areas of expertise include DIP financings and distressed mergers and acquisitions. Mattar heads the practice with fellow name partner Paulo Padis, who has over 20 years' experience in the market advising on special situations. Beatriz Mazzi also has a good track record for advising creditors and debtors.

Practice head(s):

Eduardo Augosto Mattar; Paulo Padis


‘Padis Mattar has executed complex restructurings and investments with precision and focus on multiple occasions for us. These matters have included in and out of court restructurings, labor, creditor and tax matters amongst others. Their expertise goes beyond the legal into project management and stakeholder negotiation strategies to help ensure successful outcomes.’

‘Padis Mattar is a new firm but with a team of excellent quality with extensive experience in various sectors, especially in insolvency and distressed cases.’

‘A team with deep knowledge and expertise for complex restructurings in Brazil.’

‘Deep understanding of Brazilian insolvency system. Extremely commercial approach. Creative and practical partners.’

‘Paulo Padis – very creative and commercial, engenders trust, works to understand full commercial picture. Takes a commercial approach to providing legal advice.’

‘Beatriz Mazzi – diligent, practical, and responsive.’

‘Eduardo Mattar – a partner with extensive experience in the area of insolvency and distressed assets, super pragmatic in his recommendations to move forward with the judicialisation of complex cases, is always available to meet the needs of customers.’

‘Renata Veloso – She expresses her recommendations clearly and concisely. Always available to clarify doubts and guide the client in crucial decisions.’

Key clients


Solus Alternative Asset Management

CarVal Investors


Payden & Rigel

Oaktree Capital

Prisma Capital

Geribá Investimentos

Graal Participações

OSX 3 Leasing BV



Moneda Asset Management

Dommo Energia

Fratelli Investments Limited

Centerbridge Partners

Silver Point Capital

York Capital Management Global Advisors



Settlement Shareco

VR Global Partners

Megeve Investments

ICE Canyon

Cerberus Capital Management

Citadel Equity Fund


Vientos Brazil

Merrill Lynch International

Fundo de Investimento em Direitos Creditórios Não-Padronizados PCG-Brasil Multicarteira

Gramercy Funds Management

Lone Star

Work highlights

  • Advising former shareholders Graal Participações through a complex corporate dispute for the recovery of their claim before the Odebrecht Group.
  • Acted as adviser to investment funds in the recovery of the $250m credit held in debentures against a holding company for the Atvos Group (the sugar and ethanol portion of the Odebrecht Group).
  • Advised an ad hoc group of bondholders in the negotiation and approval of an amendment to the judicial reorganisation plan of the Oi Group.

Pinheiro Guimarães

The team at Pinheiro Guimarães is led by well-regarded litigator Gustavo Mota Guedes, who has an impressive track record in related insolvency proceedings. Other key partners include the recently promoted Guilherme Vaz Leal da Costa, who has established a good name for high-value cases, particularly with regard to representing the creditors. In a significant development, the firm saw the departure of two key former partners: Eduardo Augusto Mattar and Renata Machado Veloso.

Practice head(s):

Gustavo Mota Guedes; Guilherme Vaz Leal da Costa


‘The team combines experience in various areas of action – both advisory and regulatory, as well as litigation and restructuring. This is a unique strength of the firm.’

Partners with great knowledge of the client and active participation in all stages of the restructuring.’

‘Guilherme Vaz Leal da Costa impresses by his knowledge in restructuring, arbitration, and litigation. Guilherme has experience coordinating parallel judicial and arbitration proceedings in various jurisdictions.’

Bruno Lardosa and Guilherme Vaz are extremely competent and always available.’

Key clients

Banco Credit Suisse (Brasil)

Itaú Unibanco

Banco Santander (Brasil)

Andrade Gutierrez

Redwood Capital Management

CarVal Investors

King Street Capital Management

Centerbridge Partners

AIG Investments

Knighthead Capital Management

Guggenheim Partners

Banco Votorantim

Hilco Global Brazil

Merrill Lynch International

Explorador Capital Management

VR Global Partners

Centerbridge Partners

Roystone Capital Management

Rimrock Capital Management

Amundi Pioneer Asset Management

ICE Canyon

Goldman Sachs International

Cyrus Capital

Serengeti Asset Management

Thornburg Investment Management

Merrill Lynch Pierce, Fenner e Smith

DW Partners

Rimrock Capital Management

Roystone Capital Management

Knighthead Capital Management

Sothic Capital Management

CQS Asset Management Limited

Oaktree Capital

GSO Capital Partners

MSD Capital

Explorador Capital

Nomura Assets Management

PointState Capital

Hilco Global

Bank of America


Empresa de Energia São Manoel

International Finance Corporation

Stallone Investments Group

Quadra Gestão de Recursos

Graal Participações

Work highlights

  • Representing a creditor holding a total claim of over $514m, which represents over 70% of the total claims in the bankruptcy proceeding of Oceanair Linhas Aéreas (Avianca Brasil) and AVB Holding.
  • Representing Banco Votorantim on several lawsuits filed against the debtors and their guarantors, in the R$4.5bn judicial reorganisation of Usina de Açúcar Santa Terezinha.
  • Representing Brookfield Renewable in the defence of its position as post-petition creditors of Tonon Bioenergia.

Stocche Forbes Advogados

Stocche Forbes Advogados is often instructed by major foreign and domestic creditors, including bondholder and lender committees, in complex debt restructurings and insolvencies. The team leverages its significant expertise in related areas such as litigation, banking and M&A, which is of particular use in transactions involving distressed assets. Practice head Guilherme Gaspari Coelho is making an increasingly strong name for himself in this area. He works closely with other key partners within the wider firm, including corporate partners Guilherme Forbes and Frederico Cursino de Moura. 2020 saw the firm acting on several high-profile restructurings in the natural resources, infrastructure, agribusiness and telecoms industries.

Practice head(s):

Guilherme Gaspari Coelho

Key clients

Gramercy Funds Management

The Bank of Tokyo Mitsubishi

Mizuho Bank

Sumitomo Mitsui Banking Corporation

Bank of America

Banco Cargill


BNP Paribas

ING Capital

Nordea Bank, London Branch

Itaú Unibanco

ABN Amro Bank

Canvas Capital

ED&F Man

Cargill Agrícola

Highline do Brasil II Infraestrutura de Telecomunicações

Work highlights

  • Advising the agents and secured lenders as Brazilian counsel in the restructuring of the approximately $600m project financings of three drill ships owned by QGOG Constellation’s subsidiaries.
  • Advising the ad hoc committee of lenders in the $1.6bn debt restructuring of Samarco Mineração, which halted operations after a major environmental incident.
  • Advising Highline in the context of the judicial reorganisation of the Oi Group, in which Highline has negotiated the acquisition of Oi’s tower business.

Tauil & Chequer Advogados

Tauil & Chequer Advogados is popular with clients, particularly for its litigation expertise. 2020 saw the firm handling several significant mandates on behalf of creditors and distressed debt investors. The firm’s Mayer Brown association gives it a strong edge in cross-border matters, including Chapter 11 proceedings. Lead partner Fabio Peixinho focuses in particular on litigation, and often works on judicial restructurings and insolvencies. Banking and finance experts Eduardo Lima and Luis Montes are also names to note. In internal developments, former practice head Leonardo Morato left the firm.  Since publication, the firm saw a major change with the departure of former practice head Luciana Celidonio, in November 2021.

Practice head(s):

Fabio Peixinho


‘Highly specialised in litigation.’

Solid knowledge in strategic litigation of judicial credit execution, proactive in the elaboration of procedural strategy, application in the fulfillment of measures.’

Key clients

The Bank of New York Mellon


Vale do Verdão Acúcar e Álcool


Ferrari Agricola

Bunge Alimentos


The Dow Chemical Company


GE Capital – Financial Services

Albioma Participações

Work highlights

  • Advising Bradesco in the LATAM Chapter 11 proceedings.
  • Representing relevant creditors (international banks) in the judicial reorganisation of Odebrecht.
  • Advised Vale do Verdão Açúcar e Álcool as the winning bidder for the acquisition of the business productive unit (UPI) Usina São Luis.

ASBZ Advogados

ASBZ Advogados is notable for its expertise in representing financial institutions and bondholders in bankruptcy and credit recovery claims. This includes creditor-side support on judicial and extrajudicial reorganisations and forced liquidations. The well-balanced team includes partner Bruno Delgado Chiaradia, who typically leads on the non-contentious side of the practice, and is also noted for his experience advising on restructurings in the aviation industry. Litigation partner Aitan Canuto Cosenza Portela  also has a strong reputation. Since publicationMilena Meyknecht - who joined the firm in 2018 and specialises in contentious banking matters, credit recovery and restructuring - has been raised to the partnerhsip; effective as of March 2022.

Practice head(s):

Aitan Canuto Cosenza Portela; Bruno Delgado Chiaradia


‘The firm provides a service with excellence. Extremely qualified team, experienced, knowledgeable, and always acts proactively.’

‘The firm is active in banking litigation and judicial and extrajudicial recoveries, and has a lot of agility and efficiency in acting in judicial litigation.’

‘Bruno Chiaradia has a lot of experience and knowledge in the area of banking litigation and in the defense of financial institutions in judicial recoveries. He is very combative and creative, demonstrates depth of legal knowledge and expertise and achieves success in the defense of clients.’

Key clients

Banco Bradesco

Banco Santander (Brasil)

Banco Original

Itaú Unibanco

Banco Fibra

China Construction Bank

Deutsche Leasing Finance GMBH

Kirton Bank

DASA – Diagnósticos da América

Archer Daniels Midland Company – ADM do Brasil

Premier Capital Fomento Mercantil

United Airlines

Banco AndBank (Brasil)

Banco Modal

Roche Diabetes Care Brasil

UMB Bank

AB High Income Fund

Alliancebernstein Global

ABITL Emerging Market Corporate Debt Fund

Aurion Canadian Bond Fund

Citigroup Pension Plan Trust

Commonwealth of Pennsylvania Public School Employees’ Retirement System

Desjardins Enhanced Bound Fund

Halifax Regional Municipality Master Trust

Kaiser Foundation Hospitals

Work highlights

  • Defending Banco Bradesco’s interests in the judicial reorganisation of Moreno Group, involving a total amount of over R$2.9bn.
  • Representing the noteholders, with over $216m credit notes due, and the trustee agent of GVO Group, to enforce collateral and other debtor’s assets.
  • Advising several Grupo CVC companies in both Avianca’s and LATAM’s Chapter 11 procedures pending before the Bankruptcy Court of the Southern District of New York.

Castro Barros Advogados

Castro Barros Advogados fields a team of highly experienced lawyers with deep knowledge of complex restructurings and judicial insolvencies. Led by Alexandre Espínola Catramby, the team is popular with major creditors. It regularly represents the interests of leading banks, funds and investors, on some of Brazil's most high-profile restructurings and bankruptcies - Oi and Odebrecht being two recent examples. Dispute resolution is a key strength, with senior partner and litigation head José Augusto Leal adding significant weight on this front.

Practice head(s):

Alexandre Espínola Catramby


‘Creative solutions, well-structured documents and an excellent business and technical capacity differentiate the restructuring practice, which achieves excellent results.’

‘The office has a team of lawyers trained and engaged with the needs of clients, making the service very good quality.’

‘Alexandre Catramby is the partner responsible and is always present, bringing tranquility to the client.’

Key clients

Banco Plural

Banco Modal

Banco BTG Pactual

JP Morgan

Polo Capital Management

Haitong Banco de Investimento do Brasil

Enforce Gestão de Ativos

Hewlett-PackardEnterprises Financial Services

Fundação Petrobras de Seguridade Social – Petros

RB Capital Companhia de Securitização

Work highlights

  • Representing several foreign bondholders in the court-supervised restructuring of Oi Group.
  • Assisting Haitong Banco de Investimento do Brasil  and HP Financial Services Arrendamento Mercantil in a complex R$120m credit recovery dispute against Inepar Group.
  • Advising Fundação Petrobras de Seguridade Social / Brasil Plural Recuperação de Crédito Fundo de Investimentos Multimercado Crédito Privado in a R$50m credit recovery case against Alutech.

E. Munhoz Advogados

E. Munhoz Advogados has a good standing in the market for restructuring and insolvency work, combining strong credentials in both litigation and advisory matters. The multidisciplinary team represents a mix of investors, debtors and creditors, and has been involved in some of the country's largest judicial and extrajudicial restructurings. Eduardo Secchi Munhoz is one of the lead contacts.

Huck, Otranto, Camargo Advogados

Huck, Otranto, Camargo Advogados has a broad range of expertise in restructuring and insolvency matters, and offers comprehensive banking, litigation and corporate law advice in related proceedings. Areas of strength include debt restructuring plans, distressed M&A and refinancings for clients across a range of sectors. The firm is especially active on the creditor side, representing several leading trade creditors with high-value recovery claims. Diego Billi Falcão and corporate partner Luis Gustavo Haddad typically handle the strategic planning and non-contentious aspects, while Luiz Felipe Pereira Gomes Lopes is the main litigation partner. Since publication: the firm endured a significant split in February 2022 with the departure of 24 lawyers to found HRSA; while the firm retains 47 attorneys, Haddad is among those who have left.

Practice head(s):

Luiz Felipe Pereira Gomes Lopes

Leite, Tosto e Barros Advogados Associados

Leite, Tosto e Barros Advogados Associados is a strong choice for insolvency-related litigation, where it has an active practice. Its clients include debtors and creditors, ranging from major corporates and infrastructure companies through to banks and financial institutions. The versatile Rodrigo Quadrante advises on a mix of banking, debt restructuring and commercial issues, as well as contentious matters. Other key partners include highly experienced dispute resolution head Paulo Guilherme Lopes and litigator Patricia Rios.

Practice head(s):

Rodrigo Quadrante; Paulo Guilherme Lopes; Patricia Rios


‘The Restructuring and insolvency team is very efficient technically, acting not only in this area, but together with the other teams from the other branches of law. With this, the client is fully protected broadly and accurately.’

Key clients

UTC Participações

Wow Nutrition

Tomé Participações

Schahin Participações

Banco Fibra

Banco Industrial

Banco Rabobank

Alumini Engenharia


Massa Falida do Banco Santos

Foton Aumark do Brasil, Importação, Exportação e Distribuição

Work highlights

  • Acted as counsel to UTC Participações in a $1bn judicial reorganisation of debt.
  • Acted as counsel to Wow Nutrition in a $150m debt reorganisation.
  • Advised Alumini Engenharia on a $400m debt reorganisation.

Petribu, Cabrera, Pires de Mello

Petribu, Cabrera, Pires de Mello has developed an impressive niche for its advice to creditors in the agribusiness industry. The team is often sought by clients across the full range of consultancy and litigation issues, such as judicial credit recoveries, distressed asset sales, and the acquisition of non-performing loans (NPLs). Name partners Rodrigo Pires de Mello, Henrique Petribu Faria and Ben-Hur Cabrera Filho all have a strong focus on this area. Guilherme Oliveira Afonso is also active, and has a strong background in litigation.

Practice head(s):

Ben-Hur Cabrera Filho; Rodrigo Pires de Mello; Henrique Petribu Faria; Guilherme Oliveira Afonso

Siqueira Castro – Advogados

Siqueira Castro – Advogados often represents creditors in high-value credit recovery proceedings, including judicial and extrajudicial restructurings and insolvencies. The team fields several specialised lawyers with good expertise representing major investors, lenders and trade creditors from a wide range of industries. The non-contentious side of the practice includes corporate partners Guilherme Dantas and André Gondinho. The team also has a strong dispute resolution practice, with André Frossard Albuquerque and Rio de Janeiro-based Daniela Soares Domingues and Alexandre Wider among the lead partners on this front.

Practice head(s):

Guilherme Dantas; Daniela Soares Domingues; André Gondinho; Alexandre Wider; André Frossard Albuquerque


‘I see the Siqueira Castro office as a partner, which has been concerned with always seeking the best solution for the client.’

Commitment to the client’s issues and to the definitive solution of cases.’

Caroline Gomes Tabach Rocha: She is always available to assist the client, usually the answers and support are issued immediately.’

Key clients


Dialogic do Brasil Comércio de Equipamentos para Telecomunicações

Construções e Comércio Camargo Correa

Bartira Agropecuária

Votorantim Cimentos

Ecolab Química

Braga e Gonzales Advogados

MPE – Participação em Agronegócio

Kurgan RJ Participações

CEG – Companhia Distribuidora de Gás do Rio de Janeiro

Furukawa Industrial Optoeletrônica

Furukawa Electric Latam

Fundo de Investimento em Direitos Creditórios Não Padronizados Credicorp

POSTALIS – Instituto de Seguridade Social dos Correios e Telégrafos

Multi-Optica Distribuidora


Solvi Participações

Credicorp – Fundo de Investimento

Teleperformance Brasil

Work highlights

  • Advised BASF, a major creditor in the restructuring of agribusiness company Monte Alegre Group.
  • Assisted Dialogic, a technology company, as creditor in the Chapter 11 restructuring of Hoje Sistemas De Informatica.
  • Advising Construções e Comércio Camargo Correa, a creditor in the Chapter 7 bankruptcy of Group Schahin.

Souto Correa Advogados

Souto Correa Advogados has a strong following among major creditors and debtors. Although the firm is primarily based in Porto Alegre, the practice covers interests across much of the country, and São Paulo-based partner Fernando Pellenz is singled out for praise, being especially active in agribusiness-related issues. Other key partners in the team include Gilberto Deon Corrêa Júnior, Luis Felipe Spinelli, Carlos Souto and litigator Rodrigo Tellechea. Most of the firm's lawyers have strong contentious and non-contentious expertise, including in the management of distressed assets.

Practice head(s):

Gilberto Deon Corrêa Junior; Luis Felipe Spinelli


‘Very competent and qualified professionals, and excellent in the treatment of the client. The lawyers are always up to date on recent laws, decisions and practices.’

‘Involvement of the partner in all stages of the restructuring negotiation and wide availability to serve the client.’

‘Technical excellence. It’s the best way to describe the work.’

‘Gilberto Correia is always available and with great market knowledge to assist in the negotiation of restructurings.’

‘Fernando Pellenz is an excellent and very competent lawyer. Knows how to listen to the client and bring the solution of the case in a creative, dynamic and satisfactory way.’

Key clients

Ecovix Construções Oceânicas

Brasil/CT – Comércio e Turismo

Export-Import Bank of the United States

International Finance Corporation

Chinatex Grains and Oils (H.K.) Limited

CHS Agronegócio – Indústria e Comércio

Companhia de Navegação Norsul e Norsulcargo Navegação

Fundação CEEE de Seguridade Social – Eletroceee

Semeato Implementos Agrícolas

GE Energias Renováveis

Nidera Sementes

Sky Chefs

Taurus Máquinas-Ferramentas

Forjas Taurus

Work highlights

  • Represented Group Ecovix in its judicial reorganisation.
  • Assisting Brasil/CT – Comércio e Indústria in its voluntary banrkuptcy proceeding, as well as in the execution and in the procedural incident for piercing the veil filed by Itaú.
  • Advising Export-Import Bank of the United States in protecting its credit claim against Associação Educacional Luterana do Brasil – AELBRA.

Moura Tavares, Figueiredo, Moreira e Campos Advogados

Based in Belo Horizonte, Moura Tavares, Figueiredo, Moreira e Campos Advogados regularly acts on a broad range of bankruptcy proceedings and judicial and extrajudicial recoveries. The team has a notable track record representing debtors on their restructuring plans, and trade creditors from across a range of sectors also regularly instruct the firm to represent their interests in court. Lead partners include Alexandre Figueiredo de Andrade Urbano, Marcos Campos de Pinho Resende and Leonardo de Almeida Sandes.

Practice head(s):

Alexandre Figueiredo de Andrade Urbano; Marcos Campos de Pinho Resende; Leonardo de Almeida Sandes


‘Moura Tavares, Figueiredo, Moreira and Campos Advogados has very renowned lawyers, who are experts in their respective areas of practice. I have absolute confidence in the firm.’

In the area of Restructuring and insolvency, I highlight the following partners: Alexandre Figueiredo de Andrade Urbano, Leonardo de Almeida Sandes, Ricardo Gorgulho Cunningham and Marcos Campos de Pinho Resende They stand out in the prime of the practice of law and have vast knowledge in the area of Recoveries and Bankruptcies.’

Rayes & Fagundes Advogados Associados

Rayes & Fagundes Advogados Associados is noted for its advice to creditors in judicial and non-judicial restructurings. This expertise extends to distressed M&A, private debt renegotiations and related court proceedings. The firm saw an increase in demand as a result of the Covid-19 pandemic, and has been particularly active representing banks, as well as trade creditors in the software, technology, food and beverage and life sciences sectors. Major blue-chip clients such as IBM and Nike are testament to the firm's standing. Key partners include litigator Eduardo Vital Chaves, Ligia Azevedo Ribeiro and Renata Cavalcante de Oliveira.

Practice head(s):

Eduardo Vital Chaves; Ligia Azevedo Ribeiro; Renata Cavalcante de Oliveira


‘High technical experience in the resolution of judicial, extrajudicial and arbitral disputes against insolvent debtors.’

Renata Cavalcante and Ronaldo Rayes are recommended.’

Key clients

Banco Indusval




JP Morgan

Boehringer Ingelheim

Cabify Agência de Serviços de Transporte de Passageiros

Masterfoods Brasil Alimentos

Tereos Group

Loggi Tecnologia


Work highlights

  • Represented IBM Brazil as an unsecured creditor in the court-supervised corporate restructuring of the Oi Group.
  • Assisted car rental company Unidas in a judicial reorganisation claim against a significant debtor.
  • Represented Banco Indusval in a complex bankruptcy credit recovery case against Mondelli.

Santos Neto Advogados

Santos Neto Advogados has a strong focus on restructurings and insolvencies in the agribusiness sector. The firm advises corporate debtors as well as creditors ranging from banks, financial investors, steering committees and distressed asset investors. Practice head Fernando Bilotti Ferreira has over 15 years' experience in the market, and is equipped to provide contentious and non-contentious advice. Vivian Castelan Bernardino is also noted for structured finance-related credit recovery claims, and agribusiness and trade finance disputes.

Practice head(s):

Fernando Bilotti Ferreira; Vivian Castellan Bernardino

Scalzilli Althaus Chimelo Spohr Advogados

The Porto Alegre-based team at Scalzilli Althaus Chimelo Spohr Advogados offers a broad range of expertise in restructuring and insolvency proceedings. The firm regularly advises creditors and debtors on judicial recoveries and debt restructurings, and also has a good track record in assisting court-appointed trustees. Distressed debt investors are also increasingly using the firm. Gabriele Chimelo has over ten years' experience in the market, and works closely with versatile partner Veronica Althaus.

Practice head(s):

Gabriele Chimelo; Verônica Althaus

Key clients

Indústria de Calçados Blip


Quinto Tabelionato de Notas de Porto Alegre/RS

Quinta do Vale Alimentos

Radicom Centro de Diagnóstico Computadorizado



Comercial de Combustíveis Dapa

Stemac Grupos Geradores

Stepie – ULB

Construtora Sultepa

Pedrasul Construtora

Sultepa Participações

Work highlights

  • Acts as judicial administrators of footwear company Industria de Calçados Blip, which started as a  judicial reorganisation but ended up in bankruptcy.
  • Advised GBOEX, controller of Confianca Companhia De Seguros, which had its extrajudicial liquidation proclaimed by SUSEP (the Superintendence of Private Insurance).
  • Assisted Quinto Tabelionato de Notas de Porto Alegre on R$18m worth of debt restructuring and renegotiations with banks and other creditors.

Souza Araujo Butzer Zanchim Advogados – SABZ Advogados

Souza Araujo Butzer Zanchim Advogados – SABZ Advogados has a solid multidisciplinary team, which is especially experienced representing creditors and debtors operating in the construction and infrastructure sectors. Its advice covers judicial and extrajudicial debt renegotiations, and assistance in high-profile disputes. Paulo Doron Araujo heads the litigation and insolvency practice, with Kleber Zanchim one of the main contacts on the non-contentious side.

Practice head(s):

Paulo Doron Araujo; Kleber Zanchim


‘The office has very prepared partners and that, although young, are very experienced.’

‘It is a high-quality technical office. Extremely detailed in the case history. On several occasions the office added creative technical solutions that worked when put to the test in the court.’

‘Paulo Doron, with whom we acted more frequently, has an excellent technical quality, with creativity. Kleber Zanchim has a very comprehensive vision and brings some creative solutions to the problems.’

Key clients

Lacan Investimentos


Thomas Case Associados


Banco Itaú Unibanco

Banco Itaú BBA

Banco BTG Pactual


PDG Realty


Work highlights

  • Advised Bunge South America on the credit restructuring and judicial reorganisation of Seara.
  • Advised on the restructuring of Viver and its subsidiaries’ R$210m debenture debt with FGTS.
  • Advised PDG Realty on the restructuring of its assets (circa R$1.5bn) and liabilities (circa R$2.5bn).

Trench Rossi Watanabe

'A prestigious office with national and international knowledge', Trench Rossi Watanabe acts primarily for creditors, which benefit from the firm's broad range of expertise in restructuring. Lead partners Giuliana Bonanno Schunck and Gledson Marques de Campos are especially strong in litigation, working closely on high-profile judicial restructurings and insolvencies. Meanwhile, Luis Ambrósio brings considerable banking and finance expertise to the table on debt restructurings. Coupled with this, the firm's broader international reach, through its association with Baker McKenzie LLP, makes it a strong choice for cross-border proceedings.

Practice head(s):

Luis Ambrosio; Gledson Marques de Campos; Giuliana Bonanno Schunck


It is a prestigious office with national and international knowledge.

Dr. Claudio Moretti, for his exceptional performance and individual care for each client.’

Key clients

Motorola Solutions

Export Development Canada

Procter & Gamble Do Brasil

Thales Portugal

Oracle Do Brasil Sistemas

Emerson Electric Do Brasil

Bmc Software Do Brasil

Hasbro Do Brasil Indústria E Comércio De Brinquedos E Jogos

Commscope Cabos Do Brasil

Nuance Communications

Work highlights

  • Advising Motorola Solutions on the judicial reorganisation of Rontan Group.
  • Advising telecoms creditors in the judicial reorganisation of Oi Group.
  • Assisting Nestlé Brasil in the judicial reorganisation of Livraria Cultura pending before the 2nd Bankruptcy and Judicial Reorganisation Court of São Paulo.

Ulhôa Canto, Rezende e Guerra Advogados

Ulhôa Canto, Rezende e Guerra Advogados has an experienced team led by litigator Marcelo Beltrão da Fonseca, a partner at the firm for nearly 20 years. The firm is especially active on the creditor side, where it represents several major trade creditors and banks, including Banco Bradesco and Itaú Unibanco, on judicial and extrajudicial debt restructuring and insolvency proceedings. Associate Danilo Romera Luqueze has a strong focus on this area, particularly in credit recovery-related litigation.

Practice head(s):

Marcelo Beltrão da Fonseca

Key clients

Banco Bradesco

Banco Itau Unibanco

Gávea Investimentos

GMT Editores

Work highlights

  • Advised Banco Bradesco on the judicial recovery and debt recovery of Sina Bauru.
  • Represented Itaú Unibanco on the judicial recovery of Alpex Aluminio.
  • Advised Itaú Unibanco on the bankruptcy of Comercial Cantareira Importação e Exportação.