Cleary Gottlieb Steen & Hamilton has a market leading Latin America practice with a significant presence in banking and finance, particularly debt restructurings, bankruptcies, special situations and private credit transactions. It remains at the forefront of the Mexico and Brazil markets with additional strong trajectories in Argentina, Chile, and other growing markets such as Paraguay and Bolivia. The firm has worked on a series of major new money financings in Brazil, including private credit financings. It represents an impressive range of Latin American financial institutions, state-owned entities and major companies, along with financial sponsors and bondholders. The firm and the Latin America team also continue to standout for sustainability-linked credit facilities and ESG-related transactions. Richard Cooper is a clear leader in Latin America debt restructurings and bankruptcies, including Chapter 11 cases; he is particularly known for debtor and bondholder representations, especially in Brazil and Mexico. Sao Paulo-based Francisco Cestero has made a considerable impression on the market, having represented clients in a series of landmark and market-defining financings, restructurings and bankruptcies; this included acting for Samarco in connection with its restructuring proceedings and lawsuits filed by its creditors involving over $10bn of debt. Carina Wallance was elected to the partnership in January 2025 and also has a background in Latin America restructurings and refinancings. Adam Brenneman left the firm in May 2025. All named individuals are based in New York.  
Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • ‘Deep knowledge. Firm is great and constructive.’

  • ‘Cleary's attorneys are excellent professionals. They are highly collaborative, and their concepts are clear and timely.’

  • ‘We worked with Francisco Cestero. Francisco is a star when it comes to restructuring and was a great ally in the case. The case lasted almost four intense years and Francisco was one of the most active players in the restructuring negotiations, coming up with innovative solutions to the problems we faced.'

Key clients

  • América Móvil
  • Bank of America
  • BBVA México
  • Banco Santander México
  • Citigroup
  • Frigorífico Concepción
  • HSBC
  • LATAM Airlines Group
  • Mexico Infrastructure Partners (MIP)
  • PEMEX

Work highlights

Advised a backstop group and certain other supporting creditors in connection with the extrajudicial reorganisation of Unigel, one of Brazil’s largest chemical producers, including the restructuring of $869.6m of debt.
Advised a special purpose acquisition trust managed by Mexico Infrastructure Partners on the secured financing to fund the $6.2bn acquisition of 12 combined-cycle gas turbine plants and one wind farm from Iberdrola.
Advised an ad hoc group of unsecured bondholders and lenders on the restructuring of Crédito Real’s outstanding liabilities, amounting to over $2bn.

Lawyers

Hall of Fame

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Leading partners

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Next Generation Partners

Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.

Practice head

Richard Cooper; Francisco Cestero; Carina Wallance