AUSTIN, Texas, January 27, 2022--(BUSINESS WIRE)--Invictus Global Management, LLC ("Invictus") today announced that it has filed a notice of appeal under 28 U.S.C. § 158(a) from the Order Enforcing the Order Authorizing Entry into New Agreements Establishing New Labor Conditions with ASPA, ASSA, STIA, and Independencia [ECF No. 2540] issued by the U.S. Bankruptcy Court for the Southern District of New York in the bankruptcy case of Grupo Aeroméxico, S.A.B. de C.V, in which Invictus is currently a sizable holder of general unsecured claims of various debtor entities (collectively, the "Debtors" or "Aeromexico").
Cindy Chen Delano, co-founder and partner of Invictus, commented: "As sizable holders of general unsecured claims of the debtor entities in the Aeromexico bankruptcy and other bankruptcies, Invictus firmly believes that we must protect creditor voting rights from being undermined. That is why we have appealed what we view as illegal vote disenfranchisement in the Aeromexico bankruptcy. In addition to filing an appeal, Invictus remains committed to providing a fair and viable exit plan for the benefit of the Debtors, including engaging first class investment bank Guggenheim to raise capital, which is made available to the Debtors to utilize at its discretion to facilitate a global, consensual resolution and/or meet any capital obligations as it pertains to the debtor in possession financing ("DIP") in order to provide the Debtors with the time/runway they need to confirm a lawfully proposed plan. To date, Guggenheim has raised $525 million of firmly committed, flexible capital (at the same costs of capital to the current plan) and has indications of interest of substantially more capital to the extent the Debtors require or request additional funds. This capital can be utilized as exit financing under the same or similar terms outlined in the current plan and/or replace the DIP to the extent necessary. The capital was sourced from numerous investors who have expressed a strong interest in investing fresh capital into Aeromexico through the Chapter 11 process."
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Longacre Square Partners
Ashley Areopagita, (646) 386-0003