By Jeff Montgomery (Nov. 22, 2021, 5:10 p.m. EST) – Bankrupt Chilean hydroelectric company Alto Maipo SpA on Monday obtained approval from a Delaware judge for provisional access to as much as $ 20 million on a $ 50 million debtor-in-operator loan earmarked for the $ 2.5 billion hydropower project threatened by declining Andean flows.
US bankruptcy judge Karen B. Owens cleared with a few questions Alto Maipo’s initial access to the DIP loan provided by Alto Maipo parent company AES Andes SpA, a subsidiary of Virginia-based global electricity supplier AES Corp.
Luke A. Barefoot of Cleary Gottlieb Steen & Hamilton LLP, counsel for the debtors, told the judge that no other lender would offer or accept …
Stay one step ahead
In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas, and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.
Access to case data in articles (numbers, filings, courts, nature of prosecution, etc.)
Access to attached documents such as briefs, petitions, complaints, decisions, requests, etc.
Create personalized alerts for specific case articles and topics and more!