Colombia: Ultra Air admitted to corporate reorganization process
The Superintendence of Companies informed the admission of the corporate reorganization process of the company Ultra Air S.A.S. by means of Auto 2023-01-518280 of June 14, 2023, based on article 11.1 of Law 1116 of 2006, in response to the request made to this entity by the Superintendence of Transportation.
According to the Superintendence of Corporations, this admission is the result of the timely delivery of the required information to Ultra Air S.A.S., as indicated in Articles 14 and 15 of Law 1116 of 2006, which formally initiates the corporate reorganization process under the terms of Law 1116 of 2006, having accredited the completeness requirements established in Article 2 of Decree 560 of 2020.
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With this “recovery” process, it is expected that, through the execution of a reorganization agreement, the creditors and the company will be able to define new conditions for the normalization of its liabilities, in which a space for the operational, financial and organizational recovery of the company in a state of economic crisis will be guaranteed.
The Superintendent of Companies Billy Escobar Pérez reiterated that, “from the entity we will provide all the spaces for companies to find permanent accompaniment that will allow their prompt recovery and strengthening, managing to reestablish their credit and commercial relations so that they can safeguard employment, boosting the Colombian economy”.
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