{"id":100341,"date":"2020-09-19T15:18:35","date_gmt":"2020-09-19T15:18:35","guid":{"rendered":"https:\/?p=100341"},"modified":"2020-09-19T15:18:37","modified_gmt":"2020-09-19T15:18:37","slug":"new-york-judge-finally-approves-latam-airlines-2-45-billion-financing-plan","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2020\/09\/new-york-judge-finally-approves-latam-airlines-2-45-billion-financing-plan.html","title":{"rendered":"New York judge finally approves Latam Airlines’ $2.45 billion financing plan."},"content":{"rendered":"\n

Latam Airlines<\/strong> finally received approval on Friday for its $2.45 billion financing plan, a day after it submitted a counter-proposal to the initial plan.<\/p>\n\n\n\n

See also: <\/strong>Delta and Latam Airlines receive approval in Brazil for Joint Venture agreement.<\/a><\/p>\n\n\n\n

At the hearing held in the Southern District Court of New York at 3:00 p.m. and lasting 20 minutes, Judge James L. Garrity gave the go-ahead to the new DIP funding proposal.<\/p>\n\n\n\n

“I am ready to approve the funding, I apologize for the delay on the previous occasion. We are ready to move forward with the process,” said Garrity.<\/p>\n\n\n\n

See also:<\/strong> LATAM increases domestic operations in its subsidiaries and announces three new international destinations.<\/a><\/p>\n\n\n\n

“The approval is a very significant step for the sustainability of the group and we appreciate the broad interest and confidence in what Latam has built and in our long-term project,” said the company’s CEO, Roberto Alvo.<\/p>\n\n\n\n

It is worth noting that last Friday Judge Garrity rejected the initial proposal for financing that the company submitted in May.<\/p>\n\n\n\n

The judge’s rejection referred to the conversion of shares for the payment of the debt that was included in Tranche C of the financing plan presented by Latam and that the judge considered would incur in an inadequate treatment to other shareholders.<\/p>\n\n\n\n\n<\/amp-auto-ads>\n\n\n\n

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