A Haynes Boone team led by Partner Larry Pascal, chair of Haynes Boone’s Americas Practice Group and co-chair of the International Practice Group, and Deborah Low, finance partner in the New York office of the firm, represented Toesca S.A. Administradora General de Fondos (“Toesca”), a Chilean asset management firm, in connection with its US$150 million Tranche C debtor-in-possession (DIP) loan to LATAM Airlines Group S.A. (“LATAM”).
LATAM filed for Chapter 11 protection in the Southern District of New York in May 2020. The bankruptcy court last year approved LATAM’s DIP financing proposal.
Other Haynes Boone attorneys advising on the project included Counsel Kourtney Lyda and Elizabeth Breazeale, Foreign Counsel César Ramirez del Ángel, and Associate Ochuko Hope.
Christian Schiessler and Alvaro Caviedes of Jara del Favero Abogados in Santiago, Chile acted as Chilean counsel on the matter.
Toesca is an independent asset manager formed by a group of professionals with a long history working together investing in Latin American markets. Toesca manages four strategies in Latin America: Infrastructure, Private Credit, Real Estate, and Equities. This investment in the LATAM DIP was led by their Private Credit team.
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Haynes Boone has one of the largest Latin American/Caribbean practices among the AmLaw 100 law firms, with approximately 70 lawyers serving clients from our Dallas, Houston, Mexico City, New York, London, Washington D.C., and Austin offices. These lawyers are native speakers or fluent in English, Spanish, Portuguese, and French and are comfortable working with civil law and international law concepts. The firm is experienced in virtually all Latin American and Caribbean markets. Our lawyers have helped clients navigate and complete some of the most ambitious and challenging projects involving transportation, real estate, infrastructure and energy.