May 06, 2022
Investment firm Invictus Global Management has filed suit against a General Electric Co. subsidiary in a New York state court, alleging the firm bought a $15.5 million claim being made against a bankrupt airline, but it was rendered worthless because GE missed a filing deadline.
May 04, 2022
The U.S. Trustee's Office asked a New York bankruptcy judge Tuesday to reject LATAM Airlines' Chapter 11 plan, saying the company improperly offered to allow creditors' claims in exchange for locking in their votes on the plan.
May 03, 2022
Purdue Pharma LP told the Second Circuit that decades of precedent justify opioid liability releases given to the Sackler family under its Chapter 11 plan, tennis legend Boris Becker is headed to jail across the pond for hiding assets in bankruptcy, and asbestos claims drove a Hess Corp. subsidiary into bankruptcy in Texas. This is the week in bankruptcy.
May 02, 2022
A New York bankruptcy judge ruled late Friday that $1.4 billion in intercompany loan claims asserted in the Chapter 11 case of LATAM Airlines Group SA are valid loans under New York law, overruling a claims objection from the debtor's official committee of unsecured creditors.
April 07, 2022
South American air carrier LATAM Airlines on Thursday told a New York bankruptcy judge it wants to probe what it says are inaccurate statements concerning its Chapter 11 plan filed in a Chilean court by an objector to the plan.
March 15, 2022
A New York bankruptcy judge on Tuesday approved a new $3.7 billion financing package for LATAM Airlines Group after counsel for the bankrupt South American air carrier told him it had managed to reach an improved deal with new lenders at the last minute.
February 11, 2022
Chilean carrier LATAM Airlines and a collection of its creditors continued to clash before a New York bankruptcy judge on Friday over a backstop financing agreement in LATAM's Chapter 11 plan, with each side accusing the other of taking a distorted view of the costs.
February 10, 2022
Chilean carrier LATAM Airlines asked a New York bankruptcy judge Thursday to approve a backstop financing agreement for its Chapter 11 plan that creditor groups claim would pay unreasonably high fees to the backstop creditors.
February 01, 2022
A New York bankruptcy judge provisionally cleared Chile-based air carrier LATAM Airlines Group SA to begin soliciting votes on its $5.4 billion Chapter 11 restructuring plan on Tuesday, but put off for a week a decision on extending its continued exclusive control of the case.
January 28, 2022
Chilean international carrier LATAM Airlines ran into heavy opposition during a hearing on a disclosure statement for its $14 billion Chapter 11 reorganization plan Friday, with some creditor representatives urging a New York federal judge to declare the proposal unconfirmable on multiple grounds.