A US court has approved a restructuring plan for Latham Airlines, which was declared bankrupt in 2020.
Multinational Latum Airlines Group announced this weekend that the U.S. Bankruptcy Court for the Southern District of New York has proposed restructuring plans submitted by the company in the context of its implementation under Chapter. approved.
According to the airline, the plan, which was presented to a US court, was the result of months of negotiations between the parties with major interests, with the support of almost all lenders.
“This plan complies with the legal requirements of the United States and Chile. The affidavit issued today (Saturday, June 18) by a United States court represents the latest milestone in the implementation of Chapter 11 in this country.” Is launched by Latim to guarantee its long-term sustainability, “the company said in a statement.
From now on, the company explained, the work is centered in Chile, where steps such as approval of new capital structure through extraordinary shareholder meetings, registration of shares in the Financial Market Commission and registration of convertible bonds are missing. CMF) and offer of advance rights.
Following the completion of the pending phase, Latham Airlines Group plans to inject equivalent resources of 8 8 billion through capital increase, issuance of convertible bonds and new debt consolidation.
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EFE.- The multinational Latam Airlines Group annexes this semena that the tribunal de quiebras de unidos para el distrito sur de nueva york aprobó el plan de restructuración present presented to the enterprise in the context of its chapter 11.
“We are very satisfied with the confirmation of our plan of restructuring. This is one of the most important steps in the process to get to the end of Chapter 11 and we will continue to work harder to conclude the rest of the rounds for the next few months, ”said Roberto Alvo, CEO of Latam Airlines Group S.A.
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Also in Australia, the plan expires before the court decides that the result of the months of negotiations between the principals partes intrasadas, conting with the case of all its members.
“The plan is complete with the requisite legislations of the United States and Chile. The Order of Confirmation (June 18) for the State of the Unit representing the ultimate hit in Capitol 11 process by Latam to guarantee its sustainability, thanks. .
At the end of the day, the empire, the focus of operations in Chile, where faltans etapas like the appraisal of the new capital structure by the Junta Extraordinaria de Accionistas, the registry of accusations and bonuses convertibles in the Mercad Commission ) and the Derechos Preferredes offer.
One of the concluding fass pendents, the plan of Latam Airlines Group contemporaneously received an equivalent incentive to 8 million dollars worth of transactions, a combination of capital gains, convertibles and new deals.
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“This includes the mil 5,400 million in financing resolutions for the principal accusers (Delta Air Lines, Qatar Airways and Cueto Group) and the Latam principal accreditors (this is, the accredited representatives represented by the ad hoc and valued group) ciertos tenedores de bonos locales). The salutation of the process of Chapter 11 has been going on since the end of the year 2022, communicating with the empire.
Latam, created in 2012 by the fusion between the Chilean Lan and the Brazilian Tam (hoy con filiales in Brazil, Chile, Colombia, Ecuador, Peru and United States), volaba antes of the pandemic 145 destinies in 26 paisas and operamax More than 400 diaries, transporting more than 74 million passengers per year.
With the sanitary crisis, the company has reduced its operations by a 95% and concludes 2020 with a total of 58.4% of its operations and a net worth of 4 million 545.9 million dollars.
In May this year, the Latin American group, Latam Airlines, solicited the protection of the Martians by bancarrota in the United States.