BU assists Alpha Latam in approval of sale of portfolio and assets for $149m
Brigard Urrutia has advised Alpha Latam Management LLC on court approval for the sale of its portfolio of libranzas and assets in Colombia
Brigard Urrutia has assisted Alpha Latam Management LLC in connection with a successful auction process under section 363 of the U.S. Bankruptcy Code, after which the company received approval from the U.S. Bankruptcy Court for the sale of its libranza portfolio and its assets in Colombia owned by Alpha Capital S.A.S. and Vive Créditos Kusida S.A.S. to CFG Partners Colombia S.A.S.
In addition to the purchase of the assets and the libranzas portfolio, CFG Partners S.A.S. would also assume the lease of the offices in Bogotá, the purchase of the assets included therein and potentially hire certain employees of Alpha Capital S.A.S. and Vive Créditos Kusida S.A.S.
The process took place on 16 November 2021 with an estimated amount of $149.5 million US dollars. The sale is conditional on the approval of the Colombian Superintendencia de Sociedades.
This represents the first asset sale under Rule 363 of the US Bankruptcy Code of this type in Colombia.
BU’s team consisted of partners Dario Laguado (pictured top left), Carlos Fradique (pictured middle left) and Maria Fernanda Diago (pictured bottom left), directors Daniel Duque (pictured top right) and Cristina Roman (pictured bottom right), and associates Pablo Brando, Jorge Padilla, Isabela Gaviria, Diana Quintero, Antonio Garlatti, Maria Fernanda Rubio and Paola Guerrero.
