Lenders Alpha Latam Rattle Ch. 11 Plan Sabers On Releases

By Jeff Montgomery (January 20, 2022, 9:05 PM EST) – A group of Chapter 11 creditors in the Delaware bankruptcy case of Colombian payday lender Alpha Latam Management LLC warned Thursday that it would seek to block confirmation of the debtor’s plan without further details. disclosures and modification of disclaimers in the plan.

Investors in Alpha Latam’s senior, super-priority secured loan agreement included the blunt warning in an objection to the debtor’s liquidation plan, filed with U.S. District Bankruptcy Court Judge J. Kate Stickles of Delaware.

The proposed bankruptcy liquidation follows the approval of a $149.5 million deal in November in which a Puerto Rico-based subsidiary of CFG…

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