LATAM seeks new extension of time to submit restructuring plan

LATAM, Latin America's largest airline, on Thursday announced that it has petitioned the New York Court to extend to November 26 the deadline to submit its restructuring plan due this Friday (15).

RIO DE JANEIRO, BRAZIL - The company said in a statement that the petition "supports continued progress in negotiations with the several stakeholders in the Chapter 11 proceeding" of the U.S. Bankruptcy Act, which it voluntarily resorted to in May 2020 after the economic blow delivered by the pandemic.

The decision, which allows a company unable to pay its debts to restructure free of creditor pressure, included both the parent company - listed on the New York and Santiago stock exchanges - and its subsidiaries in Chile, Peru, Colombia, Ecuador and the USA.

On the same day, the company announced a financing . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?