Under its senior secured super-priority debtor-in-possession term loan facility, Aeroméxico needs to deliver final valuation materials to its DIP lenders in advance of filing a plan of reorganization. Under the DIP facility, the company had to deliver such materials by Aug. 23.
Considering that the company and its stakeholders continue to participate in the process of mediation conducted by Judge Sean H. Lane of the United States Bankruptcy Court for the Southern District of New York and as authorized by the court presiding over Aeroméxico’s Chapter 11 voluntary financial restructuring process, the company made the decision to continue discussing with the other parties in good faith to finalize the valuation materials and other next steps in Aeroméxico’s Chapter 11 cases.
Aeroméxico intends to complete and send such final valuation materials during the 30-day grace period under the DIP facility. On the date hereof, the company sent notice to the DIP lenders under the DIP facility informing them that it will take the benefit of the grace period and that it intends to finalize and send the valuation materials as soon as practicable. Aeroméxico has the intention to file, in due course, a plan of reorganization within the timeline contemplated under the DIP facility’s bankruptcy milestones.
