The ‘very dedicated‘ sixteen-strong insolvency and restructuring team at market stalwart Carey houses both experienced insolvency litigators and corporate lawyers, who are specialists in M&A and financial distress operations. The group’s track record includes playing lead roles during complex restructurings and financings, as well as related asset acquisitions; and its client base spans a range of industries such as insurance, mining, banking, airlines and tourism. The practice is co-led by several experienced partners, namely: Ricardo Reveco, who heads a team of insolvency litigators and ‘stands out in the national market‘; Salvador Valdés, a go-to adviser for corporate clients during high-stakes bankruptcies; Francisco Ugarte, who acts for both debtors and creditors in insolvencies; financial distress deal specialist Cristián Figueroa; and Alejandra Daroch, an expert in advising international and domestic clients on distressed M&A and debt restructuring. In a boost for the team, former associate Roberto Villaseca, whose disputes practice encompasses bankruptcy and insolvency issues, was raised to the partnership in December 2022. Key associate Francisco Torm is also on hand for restructuring and insolvency proceedings.

Legal market powerhouse Claro & Cia. fields a sizeable reorganisation and insolvency team that covers the gamut of insolvency matters and is consistently sought out for high-level restructuring work (both domestically and internationally). In what probably constitutes the most high profile matter of recent years, the team is currently co-lead advisor (in conjunction with Cleary Gottlieb Steen & Hamilton) on the multibillion-dollar bankruptcy and restructuring process of LATAM Airlines, the first Chapter 11 proceedings of a public company in Chile. More typically, representative work includes advising company clients on the restructuring and rescheduling of their liabilities, along with negotiating payment and creditor agreements, and assisting creditors with insolvency proceedings and reorganisation agreements. Department head Nicolás Luco is a civil and commercial litigation and arbitration specialist; M&A leader José María Eyzaguirre B is notably active in major restructurings; and Rodrigo Ochagavía, Cristóbal Eyzaguirre and Santiago Bravo all assist with reorganisation and insolvency matters. Also integral to the department are cross-border expert Felipe Larraín; José Miguel Huerta, whose wide-ranging practice covers bankruptcy work; and bankruptcy and restructuring specialist José María Eyzaguirre F. Raised to the partnership in January 2022, Álvaro Vives is also active in the sector.

Barros & Errázuriz's practice has a strong market reputation for both bankruptcy and restructuring work and boasts a track record that includes the representation of several major clients in judicial and non-judicial reorganisations, as well as bankruptcy law-related contentious proceedings. Additionally, the group advises on the acquisition of the assets of companies subject to liquidation or reorganisation procedures. The firm's membership of the Affinitas network is also of note since it facilitates a regular exchange of significant information with peers from Colombia, Mexico and Peru. The team is led by Javier San Martín, whose dispute resolution practice includes substantial bankruptcy issues; and José Luis Corvalán, who acts for debtors and creditors in heavyweight liquidation and reorganisation procedures. At associate level, the disputes practices of both Alexis Cespedes and Milton Gutcovsky encompasses insolvency work.

Further to Chile’s 2019 social crisis (as well as the pandemic), the recent track record of Morales & Besa's sizeable bankruptcy and restructuring practice focused on assisting domestic and international creditors and debtors with large companies’ reorganisation proceedings. The team's expertise covers out-of-court debt restructurings, insolvency and restructuring-related litigation and arbitration (including claw-back actions), and cross-border insolvency matters; it priarily acts for a client base of businesses drawn from the healthcare, financial services, aviation, construction, entertainment and energy sectors. The practice is co-led by financing and restructuring specialist Myriam Barahona; and dispute resolution expert Gonzalo Cordero, whose practice includes insolvency and bankruptcy-related disputes. Former senior associate Rocio Vergara left the firm in September 2022.

International law firm Philippi Prietocarrizosa Ferrero DU & Uría has an enviable reputation for heavyweight bankruptcy work. The team’s credentials cover liquidation and reorganisation proceedings, as well as cross-border insolvencies and defence-side creditor matters. Notable recent experience includes representing certain creditors during the reorganisation of LATAM Airlines. Country manager Andrés Sanfuentes, an expert in banking, financial and infrastructure projects is the key figure on the financial side; however, the practice lost disputes specialist Jorge Vial, who frequently acted on major cross-border insolvencies and reorganisations, and Ignacio Larraín (whose broad practice included representing debtors and lenders in insolvency proceedings), with the pair’s departure to re-establish their own firm in September 2023.

The six-member practice at full-service legal major Prieto Abogados is routinely involved in Chilean insolvency judicial procedures such as liquidations and reorganisations. The group also leverages the firm’s significant bankruptcy expertise during restructuring and financing negotiations involving defaulting companies and debt negotiations. Its specialisms further extend to international and multi-jurisdictional Chapter 11 matters. In recent highlights, the group advised Banco Internacional on the bankruptcy-related reorganisation of Sencorp. The insolvency and restructuring department is co-led by Benjamín Grebe, a longstanding specialist in creditor-side insolvency procedures; and dispute resolution head Alberto González V, whose practice covers insolvency proceedings and bankruptcies. The associate pool includes Vicente Tapia and Javier Albornoz (2022 recruits from Australis Seafoods and Deloitte Legal Chile, respectively).

The largest of the firms emerging from the dissolution of Bofill, Mir & Álvarez Jana (BMAJ) in early 2022, Bofill Mir Abogados' insolvency and restructuring practice assists with all stages of insolvency procedures, including advising on the restructuring of debt, cessation of operations, and liquidations. ‘Fully committed to clients', the group’s strong background in cross-border matters facilitates its ability to assist with high-stakes Chapter 11 procedures. The team is jointly led by ‘outstanding' founding partner Octavio Bofill, who has significant experience in commercial restructurings, refinancings, and out-of-court agreements; and corporate law experts Rodrigo Saffirio and Ana María Yuri. Bofill’s recent track record includes advising the ad hoc bondholders on Vivocorp’s insolvency.

Representing both creditors and debtors, Cariola Díez Pérez-Cotapos' seven member practice has extensive insolvency law experience, its recent track record covering several liquidation and reorganisation proceedings. Clients benefit from the practice’s access to experts in bankruptcy proceedings, financial restructuring, taxation, dispute resolution and white-collar crime. The principal practitioners are Fernando Urrutia, a specialist in business disputes, reorganisations and bankruptcies; and Raimundo Moreno, whose experience covers high-stakes reorganisation and liquidation proceedings, including pre-judicial negotiations during financial-distress situations. Litigator José Miguel Flores, along with corporate lawyers Sergio Balharry and José Manuel Donoso, are the key associates. Former associate José Pedro Villablanca left the firm in March 2023.

The 10-strong restructuring, insolvency and special situations team at Cuatrecasas' Santiago office acts for creditors, debtors, management teams and shareholders on the restructuring of transactions, production unit sales, and general insolvency proceedings. Clients notably benefit from the group’s cross-border insolvency expertise, as well as the multidisciplinary team’s litigation, finance, and M&A credentials. The practice is led by cross-border insolvency proceeding specialist Gianfranco Lotito, who also co-heads the office’s litigation department; Tomás Kubick's broad practice includes insolvency; and Alfonso Ugarte works across the firm’s New York and Santiago offices. Andrés Lafuente is an active mid-level associate.

The six-member practice at full-service law firm Guerrero Olivos consistently assists corporate debtors and secured and unsecured creditors with contentious and non-contentious bankruptcy-related matters, including negotiations and payment plan structuring. The team also represents clients before boards and during all stages of restructuring procedures (creditor board, discussion audience and evidential phases). The group is co-led by Sergio Yávar an expert in restructurings and insolvency proceedings; and Benjamín Ferrada, who focuses on bankruptcy proceeding-related disputes and representing creditors during reorganisation proceedings. At associate level, Pablo Rioseco is experienced in reorganisation and insolvency work, but Juan Luis Vial left the firm in September 2022.