Ousted by United, Avianca’s Ex-Chairman Fights to Retake Control

German Efromovich, the once-vaunted entrepreneur who rescued Avianca Holdings out of bankruptcy 15 years ago, is fighting to keep his stake in Latin America’s second-largest airline three months after he was ousted as chairman.

The Bolivian-born Efromovich is suing United Airlines and Kingsland Holdings, a minority holder in Avianca owned by one of Central America’s richest men, in New York state court to prevent them from seizing his 51.5% interest in the company.

“At stake in this case is the control, future, and possibly the survival of one of Latin America’s most important airlines,” attorneys for Efromovich’s BRW Aviation Holding ...