LatAm’s restructuring landscape: an update
The Latin American restructuring market has seen 10 new in-court and out-of-court restructuring situations through 3Q25, compared to 15 in 9M24. Nevertheless, there are several corporate and sovereign borrowers to watch as US policy shifts have changed the economic backdrop. This panel will discuss the significant cases this year and the outlook for 2026.
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- Mexico: Pemex problem solved? Upshot of judicial reform
- Will Milei’s agenda survive and will there be another round of corporate and provincial restructurings in Argentina? Are other vulnerable sovereigns off the hook?
- Interest rates falling, US tariffs rising – what is the corporate distress outlook for 2026?
Speakers
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Mauricio Jannet
Managing Partner at Blink Capital Solutions, with over 25 years of experience in the financial sector. Former Managing Director at ExeFin, CEO LATAM at GMAC Rescap, and MD of Capital Markets at GMAC Financiera. Holds an MBA, a Bachelor of Science in Economics, and a BBA from Texas Christian University.
His expertise spans mortgage and construction loan origination, valuation of mortgage loan portfolios, real estate asset servicing, structuring real estate financing, and mortgage-backed securitizations.
He has participated in numerous debt restructuring operations across various sectors, including non-bank financial institutions, hospitality, oil & gas, and real estate. Additionally, he has extensive experience in establishing complex, tailor-made financing structures within the in Mexico.
Mr. Villen is a member of Houlihan Lokey’s Financial Restructuring Group with a special focus on the Latin America region. He has more than two decades of global investment banking experience, including corporate restructurings, mergers and acquisitions, and the issuance of both debt and equity securities.
Mr. Villen’s prior experience includes providing advice to major parties-in-interest in a broad range of transactions, including Atento, Mexarrend, Volcan Compañía Minera, WOM S.A., Alpha Credit, Credito Real, Oi S.A., Unifin Financiera, Grupo Mega, Credivalores, Grupo Aeroportuario de la Ciudad de Mexico, Corporación GEO, Nextel Mexico, Nextel Brazil, Panrico, Martinsa-Fadesa, Levantina, Bodybell, Banco Estado, Afore XXI, Frontier Communications, Windstream Holdings, Guitar Center, The Weinstein Co., Relativity Media, SFX Entertainment, Rhythm & Hues Studios, Independent News & Media, IBAHN Corp., Quizno’s, Sbarro, Culligan International, IAP Worldwide Services, Reichhold Industries, UniversalPegasus International, Gibson Brands, and Den-Mat, among others.
Before joining Houlihan Lokey, Mr. Villen worked with Prudential Financial’s M&A and Corporate Development Group in Newark, New Jersey. He started his career with Deutsche Bank’s Financial Institutions Group in London.
Mr. Villen holds a B.S. in Business Administration from Pontificia de Comillas University and an MBA from Columbia Business School. He speaks fluent Spanish and French.
Jose Kliksberg has worked with distressed and high yield credits in emerging markets for the last 20 years. He has worked at various credit funds covering EM corporates including Moneda Asset Management, Black River and currently at Kawa Capital. He was a credit analyst at Morgan Stanely and Bank of America Special sits desks and an M&A banker at JPMorgan. Throughout his career he has restructured, invested, and advised various Latin American companies. He has a degree in Finance from the University of Maryland and an MBA from MIT Sloan.