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

0
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 …

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas, and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of prosecution, etc.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, requests, etc.
  • Create personalized alerts for specific articles and topics and more!

TRY LAW360 FREE FOR SEVEN DAYS


Source link

Leave A Reply

Your email address will not be published.