Santiago, Chile, Nov. 26, 2021 (GLOBE NEWSWIRE) -- LATAM Airlines Group S.A. (“LATAM”) (SSE: LTM) and its affiliates in Brazil, Chile, Colombia, Ecuador, Peru, and the United States today announced the filing of a Plan of Reorganization (the “Plan”), which reflects the path forward for the group to exit Chapter 11 in compliance with both U.S. and Chilean law. The Plan is accompanied by a Restructuring Support Agreement (the “RSA”) with the Parent Ad Hoc Group, which is the largest unsecured creditor group in these Chapter 11 cases, and certain of LATAM’s shareholders. The RSA documents the agreement between LATAM, the aforementioned holders of more than 70% of parent unsecured claims and holders of approximately 48% of 2024 and 2026 U.S. Notes, and certain shareholders holding more than 50% of common equity, subject to the execution of definitive documentation by the parties and the obtaining of corporate approvals by those shareholders. As they have throughout the process, all of the companies in the group are continuing to operate as travel conditions and demand permit.
Read more at globenewswire.comhello world
Provided Content: Content provided by Globe Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.
