MatlinPatterson fund case mediation to continue through July 15

By Sarah Lizee

Olympia, Wash., July 5 – MatlinPatterson Global Opportunities Partners II LP Chapter 11 bankruptcy case mediation will continue through July 15 from July 1, according to a notice filed with the U.S. Bankruptcy Court for the Southern District of New York on Friday.

As previously reported, the debtors, VRG Linhas Aereas SA, HJDK Aerospacial SA and MP II Preferred Partners LP expressed willingness to undergo the mediation process.

Varig Logistica SA expressed unwillingness to participate. According to the latest update, VarigLog didn’t consent to the extension either.

Previously reported, the foreign representative of creditor VarigLog’s estate, Vanio Cesar Pickler Aguiar, had asked the court to convert the MatlinPatterson fund’s case.

The court decided to direct the parties to mediate, including VarigLog.

James M. Peck is serving as mediator.

The mediation is being conducted as a settlement process.

MatlinPatterson is a New York-based distressed debt and credit opportunities fund. The company filed bankruptcy on July 6, 2021 under Chapter 11 case number 21-11255.

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