US court approves CorpGroup liquidation

US court approves CorpGroup liquidation

Debt Equity Regulation Chile United States

Corp Group Banking, a financial holding company controlled by Chile's Saieh family, received approval for its Chapter 11 liquidation plan from a US bankruptcy court, setting up the transfer its 14% stake in Itaú Corpbanca to creditors, according to local press reports. CorpGroup will also pay $30 million to creditors over 15 years under the plan endorsed by the Bankruptcy Court of the State of Delaware, local newspaper La Tercera reported. In addition, Inversiones Gasa, a division of CorpGroup,

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