Banco Finansur’s restructuring


BSCP Abogados and Marval, O’Farrell & Mairal advised on the transaction

Argentina’s central bank ordered the restructuring of Banco Finansur SA and accepted an offer from Banco de Galicia y Buenos Aires SA to acquire the assets and assume privileged liabilities of the troubled local lender, though the regulator did not disclose the amount of assets and liabilities involved in the transaction.

The regulator estimates the restructuring process will entail a payment of 150 million Argentine pesos from the country’s deposit insurance fund.

Marval, O’Farrell & Mairal advised Banco de Galicia y Buenos Aires S.A. and TMF Trust Company (Argentina) S.A. – acting as trust agent – with Roberto E. Silva (h), Francisco Abeal and Agustín López Roualdès.

BSCP Abogados advised Seguro de Depósitos S.A. with Matías Bargalló and Marcelo E. Griffi.

Involved fees earner: Matías Bargalló – BSCP Abogados; Marcelo Eugenio Griffi – BSCP Abogados; Roberto Silva (h) – Marval, O’Farrell & Mairal; Francisco Abeal – Marval, O’Farrell & Mairal; Agustin Lopez Roualdes – Marval, O’Farrell & Mairal;

Law Firms: BSCP Abogados; Marval, O’Farrell & Mairal;

Clients: TMF Trust Company; Banco de Galicia y Buenos Aires S.A.; Seguro de Depósitos S.A.;

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Author: Ambrogio Visconti.