Avianca Shareholder Sues To Block United Partnership Plan

Law360, Los Angeles (March 1, 2017, 9:55 PM EST) -- The second-largest shareholder of Avianca Holdings SA, one of the largest airlines in Latin America, filed suit in New York court on Tuesday seeking to ground United’s planned investment in Avianca, alleging Avianca’s controlling shareholder set up a “sweetheart” deal to benefit itself at the other shareholders’ expense.

In a 52-page complaint, Kingsland Holdings Ltd. asked the court to issue an injunction putting a halt to United Airlines Inc.’s planned equity infusion and strategic partnership with Colombia-headquartered Avianca. The airline was pursuing an airline investor partner...
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