Bankrupt Chilean Dam Project May Seek Votes on Ch. 11 Regime

By Leslie A. Pappas (April 6, 2022, 6:07 p.m. EDT) — The bankrupt Chilean Alto Maipo dam project on Wednesday won court permission to seek creditor votes on its Chapter 11 reorganization plan after overcoming most objections from creditors, an ad special committee of tort plaintiffs and the US Department of Justice’s bankruptcy watchdog.

U.S. Bankruptcy Court Judge Karen B. Owens of the District of Delaware approved the dam operator’s revised disclosure statement and updated restructuring support agreement in a hearing virtual on Wednesday after overriding outstanding objections.

The amendments filed on Monday to the restructuring support contract, or RSA, “completely removed” the objections of the official committee of unsecured creditors and “significantly reduced”…

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