Chilean Hydropower Project Gets Ch. 11 Plan Confirmed

By Leslie A. Pappas (May 13, 2022, 6:15 PM EDT) -- Chilean hydropower venture Alto Maipo won court approval of its Chapter 11 plan Friday after agreeing to modify language related to third-party releases in response to an objection from the U.S. Trustee's Office.

The final remaining objection from the Department of Justice's bankruptcy watchdog related to releases that the plan imposed on third parties that were "related" in some way to Alto Maipo's creditors but were not given an opportunity to opt out of the releases.

The definition of "related parties" is not clear and "there's no evidence that all related parties to the releasing parties received notice," Jane Leamy, an...

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