Regional news: Chile

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

Alto Maipo receives court approval of Chapter 11 plan

Chilean hydroelectric project operator Alto Maipo has had its Chapter 11 plan approved by a Delaware court, after the company modified language related to third party releases in response to an objection by the US trustee.

20 May 2022

LATAM objecting creditors to reopen expert deposition

A group of creditors opposed to South American airline LATAM’s Chapter 11 plan have won the right to reopen the deposition of an FTI Consulting specialist who carried out a liquidation analysis of the group.

19 May 2022

US judge permits LATAM Airlines to solicit creditor votes

South America’s largest airline LATAM has secured a partial victory over objecting creditors after a US judge expressed a willingness to allow it to solicit votes on its Chapter 11 plan, pending a hearing next week over a contested backstop credit agreement.

02 February 2022

Brazil’s Azul backs off from LATAM offer after Ch11 plan filed

Two days after South America’s largest airline LATAM submitted a Chapter 11 plan in New York, one of its Brazilian competitors has backed off from an offer to combine with the Chile-headquartered company.

03 December 2021

Andes snow drought ploughs Chilean plant operator into Ch11

The operator of an incomplete Chilean hydroelectric project, which plans to turn melted snow from the Andes mountains into electricity, has filed pre-packaged Chapter 11 proceedings blaming reduced snow fall over the past decade.

18 November 2021

Chilean car importer completes Chapter 11 restructuring

International noteholders of Chilean car importer Automotores Gildemeister have completed a debt-for-equity takeover of the company through a pre-packaged Chapter 11 plan approved in New York.

17 August 2021

Chilean bank investor secures interim protection in Delaware

A Chilean financial holding company controlled by billionaire Alvaro Saieh has secured court protection in Delaware to fend off any potential collection attempts by foreign creditors, as it works to restructure more than US$1.8 billion in debt.

02 July 2021

Chilean ski resort restructures debt with local firm Carey

Chile's Carey has helped ski resort Valle Nevado restructure US$60 million worth of debt, following financial difficulties caused by a recent snow shortage and social restrictions amid the covid-19 pandemic.

07 May 2021

Chilean car importer seeks support for pre-pack

Chilean car importer Automotores Gildemeister has commenced solicitation for a pre-packaged Chapter 11 process to reduce its debt by over US$200 million, after restructuring its senior notes in 2019 and 2016.

12 April 2021

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