Eckert Seamans Cherin & Mellott and Guzmán Ariza Abogados advised on the transaction
In January 2018, without prior notice, the Civil Aviation Authority of the Dominican Republic suspended PAWA’s operations for a period of 90 days, alleging nonpayment of airline and airport fees, leaving thousands of passengers stranded all over the Caribbean. Within a few days the airline was left with no choice but to file for bankruptcy.
PAWA Dominicana (Pan Am World Airways Dominicana) is the international flag carrier of the Dominican Republic, with scheduled flights to multiple destinations in the Caribbean and the United States.
Guzmán Ariza and Eckert Seamans Cherin & Mellott are representing PAWA in the first major bankruptcy/restructuring proceeding in the Dominican Republic under the new Mercantile Restructuring Law 141-15, a process which will involve hundreds of national and international creditors. The Restructuring Court in Santo Domingo accepted the firm’s bankruptcy filing request and has authorized preliminary proceedings to begin.
Guzmán Ariza is advising with a team including Fabio Guzmán Saladín (Picture), Alberto Reyes and Rhadaisis Espinal.
Eckert Seamans Cherin & Mellott is advising PAWA with a team including Karen Lee Turner.