Alston & Bird is pleased to announce that the LATAM Airlines Chapter 11 case has been recognized by the International Financial Law Review (IFLR) as “Deal of the Year” in the Restructuring category at its Americas Awards 2023. In the matter, Alston & Bird represented Qatar Airways in its capacity as DIP lender, plan sponsor, and equity security holder.
The Alston & Bird legal team handled every aspect of the case for Qatar Airways, including transactional and litigation matters related to multibillion-dollar DIP financings, backstop commitment agreements, and contested plan confirmation. This involved matters of U.S. and Chilean law, from inception of the bankruptcy filings in May 2020 through the effectiveness LATAM’s Chapter 11 plan of reorganization in November 2022.
The matter was selected from seven nominees by the IFLR’s editorial team. The IFLR awards focused on legal innovation in cross-border transactions that closed in 2022. The Alston & Bird team that represented Qatar Airways in the matter were partners Gerard Catalanello and Jim Vincequerra, senior associates Kimberly Schiffman and Chris Coleman, and associate Andrew Frisoli (Financial Restructuring & Reorganization); partner David E. Brown, Jr. (Financial Services & Products); partner Paul Hespel and counsel David Rutherford (Finance); and partner Steven Campbell and senior associate Reade Seligmann (Litigation & Trial Practice).
The award was presented during a ceremony at the Metropolitan Club in New York on May 18, 2023.