Rochelle's Daily Wire

ABI Exclusive

New York Judge Nixes $2.45 Billion in DIP Financing as a Sub Rosa Plan

Even though the price and terms were ‘entirely fair,’ Bankruptcy Judge Garrity disapproved DIP financing that would have locked in the right of controlling shareholders to purchase new stock at a 20% discount.

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Opinion Link

Case Details

Case Citation

In re LATAM Airlines Group S.A., 20-11254 (Bankr. S.D.N.Y. Sept. 10, 2020)

Case Name

In re LATAM Airlines Group S.A.

Case Type

Business