New Ch. 11 Filing Post – Grupo Posadas

On October 26, 2021, Grupo Posadas S.A.B. de C.V., a Mexico City-based hospitality company, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Lead Case No. 21-11831).  Grupo Posadas owns, leases, operates, and manages resorts, hotels, and villas in urban and coastal areas of Mexico under several owned brands.  The company estimates $500 million to $1 billion in both assets and liabilities.  As set forth in greater detail in the First Day Declaration, the Debtors have filed a prepackaged chapter 11 plan which proposes a refinancing of certain senior notes coming due in 2022, but otherwise provides for unimpaired treatment of all claims, including all general unsecured claims and existing equity.

Cole Schotz does not represent the Debtors in these cases.  We are posting this for informational purposes only.  If you have received a notice and have any questions, you should contact Debtors’ counsel.

Cole Schotz’s nationally renowned Bankruptcy & Corporate Restructuring group practices in Delaware, Maryland, New Jersey, New York, and Texas.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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