March 23, 2022 |
LATAM Airlines moved a step closer to exiting bankruptcy proceedings after a New York court said it can ask creditors to vote on its debt restructuring proposal, following three weeks of hearings.
The Chilean airline said in a statement on Monday that it will begin to seek creditor approval for the restructuring plan "shortly," ahead of a May 2 deadline. A confirmation hearing, where the court will evaluate the plan, is scheduled for May 17-18.
The court approved LATAM's amended debtor-in-posses
Chilean airline aims to have creditor approval by May 2, ahead of a confirmation hearing on May 17