LATAM Creditors Say Airline On Wrong Track To Ch. 11 Plan

By Rick Archer (October 22, 2021, 5:21 PM EDT) -- The unsecured creditors committee in the LATAM Airlines Group Chapter 11 bankruptcy case says the South American air carrier's insistence on providing benefits for major shareholders is sending it down a dead end in its restructuring process.

In a statement filed Thursday in response to a request by LATAM for one last monthlong extension of its deadline to file a Chapter 11 plan, the committee said the reason one had not emerged for 17 months was largely the company's "insistence on having a plan that is acceptable primarily to its majority shareholders."

"Unless the debtors change course, the committee doubts that the...

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