Red Pines, LLC Buys Claims in Amount of $43M in LATAM Airlines Bankruptcy
January 4, 2022, Southern District of New York – Red Pines, LLC files evidence and notice pursuant to Rule 3001 (e)(2) of the Federal Rules of Bankruptcy Procedure with the United States Bankruptcy Court for the Southern District of New York, regarding the transfer of the claims of Citigroup Financial Products against LATAM Airlines Group SA to Red Pines, LLC. Specifically, the boutique equity and real estate investment firm acquires Claim Nos. 4501, 4465, 4569, 4165, 4516, 4168 in face amount of $43,952,744.00 from Citigroup.
On May 26, 2020, LATAM Airlines Group SA and 28 affiliated debtors filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. The cases are pending before the Honorable Judge James L. Garrity Jr. and are jointly administered under Case No. 20-11254.