MatlinPatterson fund, VarigLog agree to mediate through May 1

By Sarah Lizee

Olympia, Wash., Feb. 28 – MatlinPatterson Global Opportunities Partners II LP and creditor VarigLog have agreed to continue their mediation through May 1, according to a notice filed with the U.S. Bankruptcy Court for the Southern District of New York.

The parties are mediating in an attempt to resolve claims asserted by VarigLog against the debtors, as well as other litigation arising out of the Chapter 11 cases, including pending appeals by VarigLog.

James M. Peck is leading the mediation.

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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