LATAM AIRLINES: Committee Taps Klestadt Winters as Conflict Counsel

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The official committee of unsecured creditors of LATAM Airlines Group S.A. and its affiliates seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to retain Klestadt Winters Jureller Southard & Stevens, LLP.

Klestadt Winters will provide legal advice on matters where Dechert LLP, the committee’s lead counsel, cannot represent the committee due to a conflict of interest.

Klestadt Winters’s current standard hourly rates are:

Partners $550 – $775
Associates $250 – $495
Paralegals $175
Legal Assistants $175

Tracy Klestadt, Esq., a partner at Klestadt Winters, disclosed in court filings that the firm is a “disinterested person” within the meaning of Bankruptcy Code Section 101(14).

In accordance with Appendix B-Guidelines for reviewing fee applications filed by attorneys in larger Chapter 11 cases, Mr. Klestadt disclosed that:

— Klestadt Winters did not agree to a variation from, or an alternative to, its standard or customary billing arrangements;

— no professional at Klestadt Winters included in the engagement varied his rate based on the geographic location of Debtors’ bankruptcy cases; and

— the firm did not represent the committee in the 12 months prior to Debtors’ bankruptcy filing.

The firm can be reached through:

Tracy L. Klestadt, Esq.
Klestadt Winters Jureller Southard & Stevens, LLP
200 West 41st Street, 17th Floor
New York, NY 10036
Phone: (212) 972-3000

About LATAM Airlines Group

LATAM Airlines Group S.A. is a pan-Latin American airline holding company involved in the transportation of passengers and cargo and operates as one unified business enterprise. It is the largest passenger airline in South America. Before the onset of the COVID-19 pandemic, LATAM offered passenger transport services to 145 different destinations in 26 countries, including domestic flights in Argentina, Brazil, Chile, Colombia, Ecuador and Peru, and international services within Latin America as well as to Europe, the United States, the Caribbean, Oceania, Asia and Africa.

LATAM Airlines Group and its 28 affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 20-11254) on May 25, 2020. Affiliates in Chile, Peru, Colombia, Ecuador and the United States are part of the Chapter 11 filing.

The Debtors disclosed $21,087,806,000 in total assets and $17,958,629,000 in total liabilities as of Dec. 31, 2019.

The Hon. James L. Garrity, Jr., is the case judge.

Debtors have tapped Cleary Gottlieb Steen & Hamilton LLP as general bankruptcy counsel; FTI Consulting as restructuring advisor; Togut, Segal & Segal LLP and Claro & Cia in Chile as special counsel; PricewaterhouseCoopers Consultores Auditores SpA as independent auditors; and Larrain Vial Servicios Profesionales Limitada as Latin America investment banker. Prime Clerk LLC is the claims agent.

The U.S. Trustee for Region 2 appointed a committee of unsecured creditors on June 5, 2020. The committee is represented in Debtors’ bankruptcy cases by Dechert LLP. The committee has also tapped Morales & Besa LTDA to provide advice on matters related to the Chilean and cross-border insolvency law.

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