LTMAQ - LATAM set to exit bankruptcy on November 3

LATAM Group ( OTCPK:LTMAQ ) is slated to exit Chapter 11 protection on November 3, according to a company statement on Monday .

The Chilean airline stated that after nearly two and a half years in reorganization, the carrier now has “adequate liquidity to face the future.” The airline also indicated it has sent funding notices to finalize the receipt of the $5.4B of new funds detailed in the Reorganization Plan.

Supporting shareholders cited in the company notice included Delta Air Lines ( DAL ), Qatar Airways, and Cueto Group. Evercore was cited as a creditor “ensuring that LATAM will have the necessary funds to successfully exit the Chapter 11 proceeding.”

Read more on Delta’s investment in LATAM .

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