SPECIAL SITUATIONS REFER TO TRANSACTIONS INVOLVING COMPANIES AND ASSETS FACING STRUCTURAL OR CYCLICAL CHALLENGES, SUCH AS LIQUIDITY CRISES OR SPECIFIC EVENTS THAT IMPACT THEIR VIABILITY. THESE TRANSACTIONS PRESENT UNIQUE INVESTMENT OPPORTUNITIES; HOWEVER, DUE TO THEIR COMPLEXITIES AND INHERENT RISKS—ESPECIALLY LEGAL INTRICACIES—THEY REQUIRE INNOVATIVE AND TAILORED SOLUTIONS.

Machado Meyer is a leader in this practice in Brazil, boasting the largest specialized team in the sector. Our team has extensive experience in identifying and structuring Special Situations and is well-equipped to assist investors and companies in developing effective, scenario-specific strategies.

How do we support clients in Special Situations?


We collaborate closely with investors, helping them structure secure transactions that align with their risk profiles while developing specific protections for complex scenarios. At the same time, we support companies in optimizing capital, monetizing illiquid assets, and structuring alternatives often unavailable in traditional financial and capital markets.

Some of the key transactions our team has executed include:

  • Convertible structured financing and/or structured financing with convertible instruments (quasi-equity);
  • Debt solutions secured by non-traditional guarantees;
  • Transactions leveraging opportunities created by specific events;
  • Acquisition and/or disposal of disputed or undisputed receivables, whether defaulted or performing, individually or as part of portfolios—including those subject to insolvency proceedings—as well as restructuring or settlement for receivables recovery;
  • Acquisition and disposal of assets and companies in the context of in-court and out-of-court reorganization and bankruptcy proceedings (distressed M&A);
  • Structured financing backed by legal assets, such as precatórios (government debt instruments), legal claims, tax credits, and arbitral proceedings;
  • DIP financing and similar structures for companies undergoing in-court or out-of-court reorganization, as well as financing for companies in financial distress;
  • Capital restructuring and investment conversion, including roll-ups and roll-downs.

Additionally, we have extensive experience in restructuring & insolvency, providing comprehensive support throughout all stages of the process.

Our team consists of seasoned professionals in structured finance, restructuring, investment funds, and M&A, ensuring an integrated approach and customized solutions for each situation.

For more information about our work in Special Situations, please contact us.