We advised Caterpillar Leasing Chile (CLC) in the submission of the recognition of credits petition before Indecopi, the Bankruptcy and Restructuring authority, within the insolvency proceeding of Ingenieros Civiles y Contratistas Generales S.A. (ICCGSA). Our team reviewed the documentation regarding the debt before CLC and formulated a strategy in relation with the obtention of the full pending credits in favour of CLC.
ICCGSA is a company specialized in providing engineering services, construction of infrastructure works, road maintenance and concessions. The company was submitted to bankruptcy at the request of one of its creditors, so the company CLC was advised, which had debts at that time, which were granted to ICCGSA for the execution of its economic activities.
Furthermore, the advice became complex, since, at the time of the beginning of the bankruptcy process, the company was in the process of executing certain machinery that was granted as a guarantee by ICCGSA in favor of CLC, and that days before the process it was withdrawn by CLC for the execution process of the goods.
The advice involved active participation in the meetings that decided the fate of the company and the procedure is being monitored so that the restructuring plan is fulfilled.
