Avianca Files for Ch 11
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Join Date: Jul 2000
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Avianca Files for Ch 11
Avianca (Colombia) has just announced they have filed for Ch 11 today.
Being a Colombian company, how does Colombian Ch 11 differ from US Ch 11. There are a stack of assets owned by at least six of the world's major leasing companies. Can they get them back immediately??
Being a Colombian company, how does Colombian Ch 11 differ from US Ch 11. There are a stack of assets owned by at least six of the world's major leasing companies. Can they get them back immediately??
Join Date: Mar 2001
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Know nothing of Colombian law, but from the sparse PRs it seems that AV has filed Ch 11 in the US. As such there would be no provision for seizure of assets - just the opposite in fact - which may be why they did it. I believe most if not all of their leased planes are US-owned.
