Beccar Varela advises on Roch’s debt restructuring.
Buenos Aires, August 11th, 2022. Beccar Varela advised Puente Hnos. S.A. and most of the local and international holders on the judicial debt restructuring of Roch S.A. (the “Company”), a company dedicated to the exploitation, exploration, and marketing of oil and gas. The restructuring of the debt, worth approximately US$27 million, took place within the framework of the reorganization proceeding presented by the Company on November 5th, 2020.
The advice provided by Beccar Varela included the verification of almost one hundred credits based on Class IV Notes, issued by Roch S.A. on December 18th, 2018, for US$5,212,570, whose original expiration date was on June 18th, 2020; and Class V Notes, issued by the Company on April 15th, 2019, for US$8,000,000, whose original maturity was on April 15th, 2021. The two issuances were carried out under the Company’s Program of Notes for up to US$50 million. Likewise, Beccar Varela represented its clients in the assembly provided for in art 45 bis of the Insolvency and Bankruptcy Law that took place on May 16th, 2022, in which the holders approved the reorganization plan, which obtained the judge’s approval on July 14th, 2022.
Beccar Varela’s team was led by partners Martín Gastaldi and Luciana Denegri, assisted by senior associates Pilar Lodewyckx Hardy and María Victoria Pavani.