Alpha Latam OK for $ 149.5 million Ch. 11 Sale to CFG partners

By Jeff Montgomery (Nov 16, 2021, 6:53 p.m. EST) – Latin American payday lender Alpha Latam Management LLC obtained Delaware bankruptcy court approval on Tuesday for a sale of $ 149.5 million from its Colombian assets to a subsidiary of CFG, headquartered in Puerto Rico. Partners, exceeding a $ 16.5 million stalking horse supply.

US bankruptcy judge J. Kate Stickles approved the deal in a teleconference hearing without objections.

The winning bid included an agreement to keep the company’s Colombian headquarters in Bogota open, a provision that Alpha Latam said would preserve 45 jobs in that city and avoid the complications and expense of rejecting the operation.

Cerberus South American Investments LLC, designated …

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!


Source link


Comments are closed.