Latam Airlines Cleared to Depart Chapter 11 Under Creditors’ Control

A chapter choose authorized a chapter 11 exit plan for Latam Airlines Group SA that places $5.44 billion of recent capital into the Chilean enterprise, transferring it nearer to ending its pandemic-driven restructuring after two years.

Judge James Garrity of the U.S. Bankruptcy Court for the Southern District of New York stated the chapter 11 plan resulted from “good faith, arm’s-length negotiations” amongst Latam and its stakeholders and gives the very best obtainable path to resolve its chapter case.