Alto Maipo Wins Court OK to Restructure Debt, Exit Bankruptcy

Alto Maipo SpA, a bankrupt hydroelectric power plant project in Chile, won court approval to implement its debt restructuring plan and exit bankruptcy.

• “I’m very pleased that we got here,” U.S. Bankruptcy Judge Karen Owens said in a hearing held by video conference Friday. “I’m very pleased with the result”
• The plan calls for giving senior secured lenders new secured debt and paying general unsecured creditors in full, according to court papers
  • Alto Maipo’s parent, AES Andes, will retain ownership of the project
• READ MORE: Bankrupt Chilean Power Plant Has CarVal, Cerberus as Creditors
• The case is Alto Maipo ...