Some of Brazil’s most prestigious firms have been enlisted in a fierce legal battle for Avianca Brasil as its restructuring proceedings – marked by judicial deadlock, thousands of grounded flights and growing debt – gained renewed momentum on Monday.

The airliner came to the edge of bankruptcy when its restructuring plan was suspended following an injunction last month, but an appeals court gave the green light for the deal yesterday. The plan divides the airliner into seven different entities that will be auctioned off on 10 July.

(Latin Lawyer)

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