Morales & Besa advises the bank creditors and bondholders of Compensation Fund Family Allowance La Araucana

March 10, 2016

Morales & Besa successfully advised the bank creditors and bondholders of Compensation Fund Family Allowance La Araucana in the first major reorganization proceeding under new insolvency law. The agreement was for an amount that exceeded US$600 millon. The agreement was unanimously approved by the respective hearing, avoiding the bankruptcy of the debtor.

This was the first case under judicial reorganization of a company with bonds issued in the market under the new Law on Reorganization and Liquidation of companies and individuals.

In the transaction the M&B team was led by partners Pedro García, Myriam Barahona, Jorge Vial, and associates María José Larrain, Josefa Larrain, Sofia Duralde and Federico Espinosa.