Regional news: Chile

Latin America-focused SPAC wound up in Cayman Islands

A special purpose acquisition company that was delisted from Nasdaq last year has been wound up in the Cayman Islands after failing to complete a business combination with a Chilean fruits producer.

13 February 2024

Caribbean round-up: international oil group wound up over unpaid fees

A Nasdaq-listed global energy group and a failed SPAC are facing liquidation in the Cayman Islands, while international oil group Frontera has been wound up and a Grenada court has ruled that a director who was allegedly ousted from his company during an “illegal” shareholders meeting has standing to bring a winding up application against it.

17 January 2024

Chile: Recent Changes Made to Restructuring Proceedings

Featured in Americas Restructuring Review 2024

27 November 2023

'We are here in America, we’re not in the Cayman Islands': Ascentra faces new deposition attempt

The foreign representative of Asia-focused beauty products retailer Ascentra is facing a fresh deposition attempt in an ongoing dispute centred around whether a solvent liquidation in the Cayman Islands can be recognised under Chapter 15.

12 September 2023

Ares sued for ‘rigged’ sale of LATAM’s aircraft

A global investment manager is being sued for the second time in three years for allegedly implementing a “sham foreclosure sale” of a bankrupt airline's aircraft.

12 September 2023

Mainstream and Ares settle Ch11 dispute in Texas

The Irish founder of a Chilean renewable energy group and its US lenders have tentatively settled a dispute over a Chapter 11 filing in Texas as part of an ownership battle that has led to litigation worldwide.

05 September 2023

Chilean wind project companies seek Ch11 protection amid “global litigation campaign”

The Irish founder of a Chilean renewable energy group has moved to dismiss an “unusual” Chapter 11 petition filed by administrators purportedly appointed by its US lenders, in an escalation of an ownership dispute that has been playing out in the US, Chile, Ireland and Spain.

22 August 2023

Chile

Featured in Americas Restructuring Review 2023

09 December 2022

New York court blocks PJT restructuring fee in LATAM Ch11

Despite claiming the duration and complexities of its Chapter 11 case were unforeseen, South American airline LATAM has failed to convince a New York court to let it pay its investment banker PJT Partners an additional US$12 million restructuring fee if its plan becomes effective.

20 September 2022

LATAM Airlines wins Chapter 11 plan approval

UPDATED: Over two years after it sought Chapter 11 protection in New York, South American airline LATAM has received court approval of a restructuring plan that will facilitate the injection of about US$8 billion through a capital increase, the issuance of convertible bonds and new debt.

20 June 2022

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