LATAM’s creditors say airline is on the wrong track with Ch. 11 Plan

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By Rick Archer (Oct 22, 2021, 5:21 p.m. EDT) – Unsecured Creditors Committee in LATAM Airlines Group Chapter 11 Bankruptcy Case Says South American Airline’s Insistence on Providing Benefits to Major Shareholders l ‘sends a deadlock in its restructuring process.

In a statement filed Thursday in response to a request by LATAM for a final one-month extension to its deadline to file a Chapter 11 plan, the committee said the reason a plan had not emerged for 17 months in large part was “the company’s insistence on having a plan that is acceptable primarily to its controlling shareholders.

“Unless the debtors change course, the committee doubts the …

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