Isaac D. Stevens Muñoz

ISAAC is a senior associate in the Financial Restructuring group at Dechert LLP in New York. He is dual-qualified in New York and Chile and has significant experience in both domestic and international insolvency matters. His practice focuses on cross-border bankruptcy and restructuring, including representing secured and unsecured creditors, ad hoc groups, and creditors’ committees in high-stakes chapter 11 and chapter 15 cases. He advises Latin American and international stakeholders in cross-border bankruptcy cases and distressed transactions, where he leads strategic efforts across U.S. and foreign insolvency regimes. His practice regularly involves enforcing creditor rights in contentious and negotiated workouts, leading multijurisdictional teams, and collaborating with local and foreign restructuring professionals across the globe. His experience in both civil and common law systems brings valuable insights to a diverse global client base, which includes U.S.-based and Latin American hedge funds, municipal funds, asset-managers, banks and other financial institutions.

Isaac has been recognized in Chambers and Partners Latin America, The Legal 500 Latin America, The Best Lawyers in America, Top Ranked Legal and Leading Lawyers. Most recently, Legal 500 Latin America named him a “Rising Star” in 2024 and a Leading Associate in 2025 and 2026 for the International Firms/Banking & Finance category. A frequent author and speaker on international restructuring matters, he has presented at conferences and events, including ABI’s International Latin American Insolvency Symposium (where he also served on the program’s advisory board), and at programs organized by the International Insolvency Institute, the Turnaround Management Association, INSOL and the Ibero-American Insolvency Institute in such countries as Chile, Colombia, Peru, Mexico and Spain. He is a founding member and current director of TMA’s Chilean chapter, which has led efforts to improve Chile’s insolvency law. He also is regularly invited to teach in postgraduate programs in Latin America, including the Diploma on Insolvency Law at one of Santiago’s top law schools.

A Chilean native, Isaac became involved in Chilean bankruptcy law around the time the country was enacting a new insolvency regime that required even the most experienced restructuring attorneys to learn an entirely new legal framework. He chose to specialize in the new framework while working at Chile’s largest law firm. When the COVID-19 pandemic unfolded while he was pursuing his LL.M. in the U.S., he opted for a more challenging global path and became a leading voice on U.S. restructuring in Latin America. Today, he promotes the strengths of U.S. restructuring tools throughout Latin America. Within his firm, he has served as the lead associate in Dechert’s Latin America initiative, as well as in high-stakes U.S. insolvency matters. In addition, he mentors junior associates and international students.