U.S. bankruptcy judge rejects LATAM Airlines proposed $2.4 billion financing deal

SAO PAULO – A U.S. bankruptcy judge on Thursday rejected a $2.4 billion financing plan for struggling LATAM Airlines (LTM.SN) on the grounds that a convertible loan included as part of the package would amount to “improper” treatment of other shareholders.

The move is a setback for LATAM, which needs short-term liquidity. But in a lengthy court decision, the judge left the door open for the Chilean carrier to introduce a similar financing plan in the future, this time without the…

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