LATAM accepts mediation in ch. 11 Plan, Fundraising talks

By Vince Sullivan (October 28, 2021, 5:48 p.m. EDT) – Bankrupt airline LATAM Airlines Group SA told a New York bankruptcy judge on Thursday that it had reached an agreement with unsecured creditors to participate in mediation in order to gain another month of exclusive rights to file a Chapter 11 plan as it seeks to resolve issues regarding the plan and potential exit funding.

In a virtual hearing, debtors lawyer Lisa M. Shweitzer of Cleary Gottlieb Steen & Hamilton LLP said LATAM has made progress on the structure of a plan in recent weeks but has yet to come up with an acceptable proposal and needed more time to finalize a plan. ..

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