Avianca’s Chapter 11

Philippi Prietocarrizosa Ferrero DU & Uría advised Glas US acting as collateral agent.

 Avianca has successfully completed its financial restructuring process and emerged from Chapter 11 as a more efficient and financially stronger airline, with significantly reduced debt and over $1 billion of liquidity. 

After advancing through the Chapter 11 process in 18 months, Avianca has revamped its business model to be more significantly more efficient, reaffirming its commitment to providing reliable and on-time service, combining a value proposition that includes the best attributes of low-cost airlines, while retaining key differentiators that allow it to be the most convenient travel alternative for millions of passengers in Latin America and the world. 

Philippi Prietocarrizosa Ferrero DU & Uría advised Glas US acting as collateral agent with a team including Hernando Padilla (Picture), Ana María Ramirez, Juan Camilo Uribe, Marcelo Armas, Pedro Valenzuela and Fiorella Ruiz.

Involved fees earner: Marcelo Armas Mac Donald – Philippi Prietocarrizosa Ferrero DU & Uría; Hernando Padilla – Philippi Prietocarrizosa Ferrero DU & Uría; Ana María Ramírez – Philippi Prietocarrizosa Ferrero DU & Uría; Fiorella Ruiz del Campo – Philippi Prietocarrizosa Ferrero DU & Uría; Juan Camilo Uribe – Philippi Prietocarrizosa Ferrero DU & Uría; Pedro Pablo Valenzuela – Philippi Prietocarrizosa Ferrero DU & Uría;

Law Firms: Philippi Prietocarrizosa Ferrero DU & Uría;

Clients: GLAS Trust Corporation;

Avatar

Author: Ambrogio Visconti