Bankrupt LATAM Reaches $ 9.5 Million Deal to End Seized Aircraft Combinations



By Dorothy Atkins (Nov 5, 2021, 5:05 p.m. EDT) – LATAM Airlines Group SA on Thursday asked a New York bankruptcy judge to approve a $ 9.55 million settlement with two Florida companies that would end a decade-long dispute and ongoing litigation in two countries over a plane seized by Colombian tax and customs authorities.

In a 19-page motion, LATAM told U.S. bankruptcy judge James L. Garrity Jr. that if the deal is approved, the settlement will reduce the company’s $ 20 million debt burden under an ongoing reorganization of Chapter 11, and it will end years-long civil trials in Bogota, Colombia, and Miami, Florida.

“Although debtors believe that …

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