December 6, 2023

The Catholic Transcript

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Felipe Rau/ Estadão

Ladam declares that the Judicial Recovery Plan has been approved by the US Judiciary

The Latham In a statement issued Saturday night on the 18th, the Bankruptcy Court of the Southern District of New York in the United States approved the bankruptcy plan granted by the airline in its restructuring process in the United States (this procedure is called Chapter 11).

The company hopes to complete the recovery process in the second half of this year. The plan meets the legal requirements of the United States and Chile.

In the coming months, the company seeks approval to register shares and securities in the Securities and Exchange Commission of Chile’s (CMF) bond register and to implement the respective pre-emptive periods for issuance of shares and convertible securities. Partners.

Once the targets are reached, the company intends to pursue a recovery plan issued in November 2021: paying the group $ 8.19 billion in new capital, convertible bonds and debt.

According to the company, this includes $ 5.4 billion in securities secured by key shareholders (Delta Air Lines, Qatar Airways and Grubo Kyoto) and major mortgage lenders (ie creditors represented by a temporary group of LATAM creditors). )

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