Citigroup Financial Products, Inc. Acquires $31 Million Claim in Latam Airlines Group Bankruptcy, Files a Transfer Agreement
June 14, 2021, Southern District of New York – Citigroup Financial Products, Inc. files a transfer agreement pursuant to FRBP 3001(e) (2) evidencing transfer of a general unsecured claim worth $31,729,749.00 (Claim Number 1824) from Banco Santander – Chile in Latam Airlines Group, S.A. (“Debtor”).
Last year, on December 13, 2020, Banco Santander-Chile, one of the largest banks in Chile by loans and deposits, had filed the said claim against the Debtor. Now, with the filing of the form of evidence of transfer of claim, the claim is assigned to Citigroup Financial Products, Inc. All further notices relating to the assigned claim, and all payments or distributions of money or property in respect of the assigned Claim, will be delivered or made to the assignee – Citigroup Financial Products, Inc. henceforth.
LATAM Airlines Group S.A. (Latam) is an airline holding company headquartered in Santiago, Chile. It is considered the largest airline in Latin America with subsidiaries in Brazil, Colombia, Ecuador, Paraguay, and Peru. LATAM filed for Chapter 11 bankruptcy in the United States last year on May 26, 2020, due to economic problems attributed to the impact of the COVID-19 pandemic on aviation. Citigroup Financial Products, Inc. is located in New York and provides investment management services.
The Debtor’s cases are pending before the Honorable Judge James L. Garrity Jr. and are jointly administered under Case No. 20-11254 in the United States Bankruptcy Court for Southern District of New York