Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 1 of 32
`
`Fill in this information to identify the case:
`
`United States Bankruptcy Court for the:
`
`____________________ District of _________________
`(State)
`
`Delaware
`
`24-
`Case number (If known): _________________________ Chapter _____
`
`11
`
`# Check if this is an
`amended filing
`
`Official Form 201
`
`Voluntary Petition for Non-Individuals Filing for Bankruptcy
`
`06/22
`
`If more space is needed, attach a separate sheet to this form. On the top of any additional pages, write the debtor’s name and the case
`number (if known). For more information, a separate document, Instructions for Bankruptcy Forms for Non-Individuals, is available.
`
`1. Debtor’s name
`
`WOM S.A.
`
`______________________________________________________________________________________________________
`
`2. All other names debtor used
`in the last 8 years
`
`Include any assumed names,
`trade names, and doing business
`as names
`
`Nextel S.A.
`
`______________________________________________________________________________________________________
`
`______________________________________________________________________________________________________
`
`______________________________________________________________________________________________________
`
`______________________________________________________________________________________________________
`
`______________________________________________________________________________________________________
`
`3. Debtor’s federal Employer
`Identification Number (EIN)
`
`N/A
`___ ___ – ___ ___ ___ ___ ___ ___ ___
`
`4. Debtor’s address
`
`Principal place of business
`
`______________________________________________
`Number
`Street
`
`General Mackenna 1369
`Santiago, Chile
`
`______________________________________________
`
`Mailing address, if different from principal place
`of business
`
`_______________________________________________
`Number
`Street
`
`_______________________________________________
`P.O. Box
`
`______________________________________________
`City
`State
`ZIP Code
`
`_______________________________________________
`City
`State
`ZIP Code
`
`______________________________________________
`County
`
`Location of principal assets, if different from
`principal place of business
`
`_______________________________________________
`Number
`Street
`
`_______________________________________________
`
`_______________________________________________
`City
`State
`ZIP Code
`
`5. Debtor’s website (URL)
`
`https://www.wom.cl/
`
`____________________________________________________________________________________________________
`
`Official Form 201
`
`Voluntary Petition for Non-Individuals Filing for Bankruptcy
`
`page 1
`
`

`

`Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 2 of 32
`
`Debtor
`
`WOM S.A.
`_______________________________________________________
`Name
`
`24-
`Case number (if known)_____________________________________
`
`6. Type of debtor
`
`# Corporation (including Limited Liability Company (LLC) and Limited Liability Partnership (LLP))
`# Partnership (excluding LLP)
`# Other. Specify: __________________________________________________________________
`
`7. Describe debtor’s business
`
`A. Check one:
`
`# Health Care Business (as defined in 11 U.S.C. § 101(27A))
`# Single Asset Real Estate (as defined in 11 U.S.C. § 101(51B))
`# Railroad (as defined in 11 U.S.C. § 101(44))
`# Stockbroker (as defined in 11 U.S.C. § 101(53A))
`# Commodity Broker (as defined in 11 U.S.C. § 101(6))
`# Clearing Bank (as defined in 11 U.S.C. § 781(3))
`# None of the above
`
`B. Check all that apply:
`
`# Tax-exempt entity (as described in 26 U.S.C. § 501)
`# Investment company, including hedge fund or pooled investment vehicle (as defined in 15 U.S.C.
`§ 80a-3)
`# Investment advisor (as defined in 15 U.S.C. § 80b-2(a)(11))
`
`C. NAICS (North American Industry Classification System) 4-digit code that best describes debtor. See
`http://www.uscourts.gov/four-digit-national-association-naics-codes .
` 5 1 7 2
`___ ___ ___ ___
`
`
`
`Check one:
`
`# Chapter 7
`# Chapter 9
`# Chapter 11. Check all that apply:
`# The debtor is a small business debtor as defined in 11 U.S.C. § 101(51D), and its
`aggregate noncontingent liquidated debts (excluding debts owed to insiders or
`affiliates) are less than $3,024,725. If this sub-box is selected, attach the most
`recent balance sheet, statement of operations, cash-flow statement, and federal
`income tax return or if any of these documents do not exist, follow the procedure in
`11 U.S.C. § 1116(1)(B).
`# The debtor is a debtor as defined in 11 U.S.C. § 1182(1), its aggregate
`noncontingent liquidated debts (excluding debts owed to insiders or affiliates) are
`less than $7,500,000, and it chooses to proceed under Subchapter V of
`Chapter 11. If this sub-box is selected, attach the most recent balance sheet,
`statement of operations, cash-flow statement, and federal income tax return, or if
`any of these documents do not exist, follow the procedure in 11 U.S.C.
`§ 1116(1)(B).
`
`# A plan is being filed with this petition.
`
`# Acceptances of the plan were solicited prepetition from one or more classes of
`creditors, in accordance with 11 U.S.C. § 1126(b).
`
`# The debtor is required to file periodic reports (for example, 10K and 10Q) with the
`Securities and Exchange Commission according to § 13 or 15(d) of the Securities
`Exchange Act of 1934. File the Attachment to Voluntary Petition for Non-Individuals Filing
`for Bankruptcy under Chapter 11 (Official Form 201A) with this form.
`
`# The debtor is a shell company as defined in the Securities Exchange Act of 1934 Rule
`12b-2.
`
`# Chapter 12
`
`8. Under which chapter of the
`Bankruptcy Code is the
`debtor filing?
`
`A debtor who is a “small business
`debtor” must check the first sub-
`box. A debtor as defined in
`§ 1182(1) who elects to proceed
`under subchapter V of chapter 11
`(whether or not the debtor is a
`“small business debtor”) must
`check the second sub-box.
`
` Official Form 201
`
`Voluntary Petition for Non-Individuals Filing for Bankruptcy
`
`page 2
`
`

`

`Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 3 of 32
`
`Debtor
`
`WOM S.A.
`_______________________________________________________
`Name
`
`24-
`Case number (if known)_____________________________________
`
`9. Were prior bankruptcy cases
`filed by or against the debtor
`within the last 8 years?
`
`If more than 2 cases, attach a
`separate list.
`
`10. Are any bankruptcy cases
`pending or being filed by a
`business partner or an
`affiliate of the debtor?
`
`List all cases. If more than 1,
`attach a separate list.
`
`11. Why is the case filed in this
`district?
`
`# No
`
`# Yes. District _______________________ When _______________ Case number _________________________
`MM / DD / YYYY
`
`District _______________________ When _______________ Case number _________________________
`MM / DD / YYYY
`
`# No
`
`See attached Exhibit A
`Affiliate
`# Yes. Debtor _____________________________________________ Relationship _________________________
`Delaware
`Date hereof
`District _____________________________________________ When
`__________________
`MM
`/ DD
`/ YYYY
`
`Case number, if known ________________________________
`
`Check all that apply:
`
`# Debtor has had its domicile, principal place of business, or principal assets in this district for 180 days
`immediately preceding the date of this petition or for a longer part of such 180 days than in any other
`district.
`
`# A bankruptcy case concerning debtor’s affiliate, general partner, or partnership is pending in this district.
`
`12. Does the debtor own or have
`possession of any real
`property or personal property
`that needs immediate
`attention?
`
`# No
`# Yes. Answer below for each property that needs immediate attention. Attach additional sheets if needed.
`
`Why does the property need immediate attention? (Check all that apply.)
`
`# It poses or is alleged to pose a threat of imminent and identifiable hazard to public health or safety.
`
` What is the hazard? _____________________________________________________________________
`
`# It needs to be physically secured or protected from the weather.
`
`# It includes perishable goods or assets that could quickly deteriorate or lose value without
`attention (for example, livestock, seasonal goods, meat, dairy, produce, or securities-related
`assets or other options).
`
`# Other _______________________________________________________________________________
`
`Where is the property?_____________________________________________________________________
`Number
`Street
`
`____________________________________________________________________
`
`_______________________________________
`City
`
`
`_______ ________________
`State ZIP Code
`
`
`Is the property insured?
`
`# No
`# Yes. Insurance agency ____________________________________________________________________
`
`Contact name
`
`____________________________________________________________________
`
`Phone
`
`________________________________
`
`
`
`Statistical and administrative information
`
` Official Form 201
`
`Voluntary Petition for Non-Individuals Filing for Bankruptcy
`
`page 3
`
`

`

`Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 4 of 32
`
`Debtor
`
`WOM S.A.
`_______________________________________________________
`Name
`
`24-
`Case number (if known)_____________________________________
`
`13. Debtor’s estimation of
`available funds
`
`Check one:
`
`# Funds will be available for distribution to unsecured creditors.
`# After any administrative expenses are paid, no funds will be available for distribution to unsecured creditors.
`
`14. Estimated number of
`creditors
`
`15. Estimated assets
`
`16. Estimated liabilities
`
`# 1-49
`# 50-99
`# 100-199
`# 200-999
`
`# 1,000-5,000
`# 5,001-10,000
`# 10,001-25,000
`
`# 25,001-50,000
`# 50,001-100,000
`# More than 100,000
`
`# $0-$50,000
`# $50,001-$100,000
`# $100,001-$500,000
`# $500,001-$1 million
`
`# $1,000,001-$10 million
`# $10,000,001-$50 million
`# $50,000,001-$100 million
`# $100,000,001-$500 million
`
`# $500,000,001-$1 billion
`# $1,000,000,001-$10 billion
`# $10,000,000,001-$50 billion
`# More than $50 billion
`
`# $0-$50,000
`# $50,001-$100,000
`# $100,001-$500,000
`# $500,001-$1 million
`
`# $1,000,001-$10 million
`# $10,000,001-$50 million
`# $50,000,001-$100 million
`# $100,000,001-$500 million
`
`# $500,000,001-$1 billion
`# $1,000,000,001-$10 billion
`# $10,000,000,001-$50 billion
`# More than $50 billion
`
`Request for Relief, Declaration, and Signatures
`
`WARNING -- Bankruptcy fraud is a serious crime. Making a false statement in connection with a bankruptcy case can result in fines up to
`$500,000 or imprisonment for up to 20 years, or both. 18 U.S.C. §§ 152, 1341, 1519, and 3571.
`
`17. Declaration and signature of
`authorized representative of
`debtor
`
`The debtor requests relief in accordance with the chapter of title 11, United States Code, specified in this
`
`petition.
`
`I have been authorized to file this petition on behalf of the debtor.
`
`I have examined the information in this petition and have a reasonable belief that the information is true and
`
`correct.
`
`I declare under penalty of perjury that the foregoing is true and correct.
`
`04/01/2024
`
`Executed on _________________
`MM
`/ DD / YYYY
`
`Timothy O'Connor
`
`_______________________________________________
`
`Printed name
`
`
`
`/s/ Timothy O'Connor
`"_____________________________________________
`Independent Director
`
`Signature of authorized representative of debtor
`
`Title _________________________________________
`
`
`
`
`
` Official Form 201
`
`Voluntary Petition for Non-Individuals Filing for Bankruptcy
`
`page 4
`
`

`

`Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 5 of 32
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`Debtor
`
`WOM S.A.
`_______________________________________________________
`Name
`
`24-
`Case number (if known)_____________________________________
`
`18. Signature of attorney
`
`/s/ John H. Knight
`"_____________________________________________
`
`Date
`
`
`
`Signature of attorney for debtor
`
`04/01/2024
`_________________
`
`MM
`
`/ DD / YYYY
`
`John H. Knight
`_________________________________________________________________________________________________
`Printed name
`Richards, Layton & Finger, P.A.
`_________________________________________________________________________________________________
`Firm name
`North King Street
`920
`_________________________________________________________________________________________________
`Number
`Street
`19801
`DE
`Wilmington
`____________________________________________________ ____________ ______________________________
`City
`State
`ZIP Code
`
`(302) 651-7700
`____________________________________
`Contact phone
`
`knight@rlf.com
` __________________________________________
`Email address
`
`DE
`3848
`______________________________________________________ ____________
`Bar number
`State
`
` Official Form 201
`
`Voluntary Petition for Non-Individuals Filing for Bankruptcy
`
`page 5
`
`WOM S.A.
`
`

`

`Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 6 of 32
`
`Exhibit A
`
`Pending Bankruptcy Cases Filed by the Debtor and Affiliates of the Debtor
`
`On the date hereof, each of the affiliated entities listed below (collectively, the “Debtors”)
`(including the debtor in this chapter 11 case) filed in this Court a petition for relief under chapter
`11 of title 11 of the United States Code, 11 U.S.C. §§ 101 et seq., as amended. Contemporaneously
`with the filing of these petitions, the Debtors have moved for joint administration of their
`respective chapter 11 cases for procedural purposes only under the case number assigned to the
`chapter 11 case of WOM S.A.
`
`1. Kenbourne Invest S.A.
`2. NC Telecom II AS
`3. WOM Mobile S.A.
`4. WOM S.A.
`5. Multikom S.A.
`6. Conect S.A.
`
`

`

`Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 7 of 32
`
`ACTA
`
`MINUTES OF
`
`SESIÓN EXTRAORDINARIA DE
`DIRECTORIO
`
`EXTRAORDINARY BOARD OF
`DIRECTORS MEETING
`
`WOM S.A.
`
`WOM S.A.
`
`En Santiago de Chile, a 31 de marzo de
`2024, siendo las 07:00 a.m. (CLT), en las
`oficinas de WOM S.A., (en adelante la
`“Sociedad”)
`ubicadas
`en
`General
`Mackenna 1369, comuna y ciudad de
`Santiago, Región Metropolitana, se reunió
`el directorio de WOM S.A.
`
`In Santiago, Republic of Chile, on March
`31st, 2024, at 07:00 a.m. (CLT), at
`the
`corporate
`offices
`of WOM S.A.,
`the “Company”)
`(hereinafter,
`located at
`General Mackenna
`1369,
`Santiago,
`Metropolitan Region, met
`the Board of
`Directors of WOM S.A.
`
`Se encuentran presentes los siguientes
`directores de la Sociedad: Thomas Leslie,
`don Jaroslav Valiukevic, don Kristopher
`Brigham y don Timothy P. O´Connor.
`
`The following directors of the Company are
`present: Mr. Thomas Leslie, Mr. Jaroslav
`Valiukevic, Mr. Kristopher Brigham and
`Mr.Timothy P. O´Connor.
`
`Se deja constancia que los señores
`directores
`Thomas
`Leslie,
`Jaroslav
`Valiukevic, Kristopher Brigham y Timothy
`P. O´Connor se encuentran presentes vía
`telefónica, encontrándose conectados por
`conferencia telefónica simultánea, continua
`e ininterrumpidamente.
`
`Preside la sesión, en esta ocasión, don
`Thomas Leslie y actúa como secretario
`especialmente
`designado
`para
`estos
`efectos, don Kristopher Brigham.
`
`Se discuten y aprueban las siguientes
`materias:
`
`It is hereby noted that directors Thomas
`Leslie,
`Jaroslav Valiukevic, Kristopher
`Brigham and Timothy P. O´Connor are
`present by phone and are connected by
`simultaneous,
`continuous
`and
`uninterrupted conference call.
`
`On this occasion, Mr. Thomas Leslie chairs
`the meeting and Mr. Kristopher Brigham
`acts as specially appointed secretary.
`
`The following matters are discussed and
`approved:
`
`PRIMERO: QUÓRUM.
`
`FIRST: QUORUM.
`
`Se deja constancia que de conformidad al
`Artículo 84 del Decreto 702 que establece
`el Reglamento de Sociedades Anónimas se
`omitió efectuar las citaciones pertinentes
`toda vez que se encontraba comprometida
`de antemano la presencia de todos los
`directores.
`
`Se tiene por legalmente abierta la presente
`sesión.
`
`It is hereby noted that in accordance with
`Article 84 of Decree 702, which establishes
`the Regulations of Corporations,
`the
`pertinent summons were omitted since the
`presence of all
`the directors had been
`agreed upon in advance.
`
`This meeting is deemed to be legally open.
`
`1
`
`

`

`Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 8 of 32
`
`SEGUNDO: APROBACIÓN DEL ACTA
`DE LA SESIÓN ANTERIOR.
`
`SECOND: APPROVAL OF MINUTES OF
`THE PREVIOUS MEETING.
`
`Se dio lectura al acta de la sesión anterior,
`siendo aprobada por la unanimidad de los
`señores directores sin observaciones ni
`modificaciones.
`
`The minutes of the previous Board of
`Directors’ meeting
`was
`read
`and
`unanimously approved by the directors
`without comments or amendments.
`
`INICIO DE
`POSIBLE
`TERCERO:
`DE
`REORGANIZACIÓN
`PROCESO
`JUDICIAL Y PODERES.
`
`THIRD: POSSIBLE INITIATION OF A
`JUDICIAL REORGANIZATION PROCESS
`AND POWERS OF ATTORNEY.
`
`El señor secretario destacó que el punto
`más importante a tratar en esta Sesión de
`Directorio era la situación delicada de flujo
`de caja de la Sociedad en el corto plazo, la
`cual es de conocimiento de los señores
`directores y que se ha venido discutiendo
`desde hace algunos meses. Se procedió a
`analizar la situación actual de la Sociedad.
`
`Además, el señor secretario informó al
`Directorio que, el déficit de caja ha
`aumentado y la proyección de efectivo ha
`disminuido producto de
`los diversos
`eventos que han afectado el ordinario
`desarrollo de las actividades comerciales
`de la Sociedad. Todo esto ha ocasionado
`un incierto escenario financiero para el
`resto del año 2024.
`
`En atención a lo anterior, el secretario
`señaló que, desde hace varias semanas,
`se han propuesto y analizado una serie de
`mecanismos para obtener el financiamiento
`requerido y que buscan solucionar, al
`menos de forma temporal, el perfil de
`liquidez de la Sociedad. Sin embargo, no
`ha sido posible conseguir el financiamiento
`necesario que garantice poder pagar las
`obligaciones corrientes en el corto/mediano
`plazo, dejando a la Sociedad sin recursos
`para afrontar sus compromisos futuros más
`inmediatos.
`
`The secretary pointed out that the most
`important issue to be discussed at this
`Board meeting was the Company’s delicate
`short-term cash flow situation, about which
`the Directors were aware of and had been
`discussing since some months. The
`Company’s current situation was analyzed.
`
`In addition, the secretary informed the
`Board that the cash deficit had increased
`and projected cash had decreased as a
`result of various events that had affected
`the normal development of the Company’s
`commercial activities. All this has led to an
`uncertain
`financial scenario
`for
`the
`remainder of 2024.
`
`In view of the above, the secretary indicated
`that, for several weeks, a number of
`mechanisms have been proposed and
`analyzed regarding obtaining the necessary
`financing
`and
`resolving,
`at
`least
`temporarily, the Company´s liquidity profile.
`However, it has not been possible to obtain
`the necessary financing to guarantee the
`payment of current obligations in the short
`to medium term, leaving the Company
`without the resources to meet its most
`immediate future obligations.
`
`Asimismo, el secretario agregó que, han
`existido conversaciones con los distintos
`acreedores de la Sociedad para intentar
`restructurar las obligaciones de la misma,
`en las que, si bien han existido avances
`
`The secretary added that discussions had
`been held with the Company's various
`creditors in an attempt to restructure the
`Company's obligations and that, although
`significant progress had been made, it had
`
`2
`
`

`

`Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 9 of 32
`
`importantes, no se ha logrado finalizar
`todos los acuerdos definitivos necesarios.
`
`finalize all
`to
`not been possible
`necessary definitive agreements.
`
`the
`
`El Directorio ha revisado y considerado (a)
`las presentaciones de la administración y
`de los asesores financieros y legales de la
`Sociedad con respecto a los pasivos y la
`liquidez de la Sociedad, las alternativas
`estratégicas disponibles y el impacto de lo
`anterior en los negocios de la Sociedad, (b)
`la
`información
`y el asesoramiento
`previamente proporcionados y revisados
`por el Directorio, y
`(c)
`los asuntos
`relacionados informados en las reuniones
`de cada Directorio. El Directorio ha tenido
`la oportunidad de consultar con la gerencia
`y los asesores financieros y legales de la
`Sociedad y de considerar plenamente cada
`una de
`las alternativas estratégicas
`disponibles para la Sociedad.
`
`The Board of Directors has reviewed and
`considered (a) the presentations by the
`Company’s management and financial and
`legal advisors regarding the liabilities and
`liquidity of the Company, the strategic
`alternatives available to it, and the impact of
`the
`foregoing
`on
`the
`Company’s
`businesses, (b) the information and advice
`previously provided to and reviewed by the
`Board of Directors, and (c) the related
`matters reported on at meetings of each the
`Board of Directors. The Board of Directors
`has had the opportunity to consult with the
`Company’s management and financial and
`legal advisors and fully consider each of the
`strategic alternatives available
`to
`the
`Company.
`
`lo expuesto
`Como consecuencia de
`anteriormente y, basándose en la revisión
`de todas las alternativas disponibles y en el
`asesoramiento proporcionado por dichos
`asesores
`financieros y
`legales, y
`la
`administración de la Sociedad, el señor
`secretario indicó que posiblemente sea
`necesario
`recurrir a un proceso de
`reorganización, ya sea en Estados Unidos
`de América o en Chile, cuestión que sigue
`siendo estudiada por la administración.
`
`As a consequence of the above and, based
`on their review of all available alternatives
`and advice provided by such financial and
`legal advisors, and
`the Company´s
`management, the secretary has indicated
`that it may be necessary to resort to a
`reorganization process, either in the United
`States of America or in Chile, a matter
`which management continues to consider.
`
`Esta posible alternativa ha sido evaluada
`por la administración en el último tiempo,
`asesorada por un equipo legal y financiero
`que incluye a los asesores legales White &
`Case LLP en los Estados Unidos de
`América y Carey y Cía. Ltda. en Chile, y los
`asesores financieros, Rothschild & Co US
`Inc. y Riveron Consulting LLC.
`
`This possible alternative has recently been
`evaluated by the management with the
`advice of a
`legal and
`financial
`team
`including the legal advisors White & Case
`LLP in the United States of America and
`Carey y Cía. Ltda. in Chile, and financial
`advisors Rothschild & Co US Inc. and
`Riveron Consulting LLC.
`
`Este proceso, facultaría a la Sociedad para
`reestructurar sus pasivos y activos,
`permitiendo
`la
`continuidad de
`sus
`actividades comerciales y el cumplimiento
`de sus compromisos con clientes y
`trabajadores.
`
`This process would allow the company to
`restructure its liabilities and assets, thereby
`enabling the continuity of its business
`activities and the fulfilment of its obligations
`with customers and employees.
`
`3
`
`

`

`Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 10 of 32
`
`The Chairman then explained the main
`features, timetable and implications of the
`possible reorganization process, both in the
`United States of America and in Chile, as
`discussed in previous meetings with the
`above-mentioned lawyers.
`
`After discussing the matter, the Board of
`Directors unanimously agreed that, in the
`business judgment of the Board, it is
`desirable and in the best interests of the
`Company, its stockholders, its creditors,
`and other parties in interest to file, or cause
`to be filed, a voluntary petition for relief (the
`“Chapter 11 Cases”) under the provisions
`of chapter 11 of title 11 of the United States
`Code (the “Bankruptcy Code”)
`in the
`United States Bankruptcy Court for the
`District of Delaware (the “Bankruptcy
`Court”) and any other petition for relief or
`recognition or other order that may be
`desirable under applicable law in the United
`States, and, if necessary, request for the
`initiation of a
`judicial
`reorganization
`proceedings under Chilean law, and to take
`any and all actions, that it deems necessary
`or appropriate.
`
`A continuación, el Presidente pasó a
`explicar
`las principales características,
`cronograma y efectos del potencial
`procedimiento de reorganización judicial,
`tanto en Estados Unidos de América como
`en Chile, según lo discutido en reuniones
`anteriores con los abogados mencionados.
`
`Después de debatir la materia, el Directorio
`acordó por unanimidad de los presentes,
`siguiendo el criterio empresarial del
`Directorio, era conveniente y redundaba en
`beneficio de la Sociedad, sus accionistas,
`sus acreedores y otras partes interesadas
`presentar, o hacer que se presente, una
`petición voluntaria de Chapter 11 en virtud
`de lo dispuesto en el capítulo 11 del título
`11 del Código de Quiebras de los Estados
`Unidos de América (el “Chapter 11” y el
`"Código de Quiebras", respectivamente)
`ante el Tribunal de Quiebras de los Estados
`Unidos de América para el Distrito de
`Delaware (el "Tribunal de Quiebras") y
`cualquier otra petición de exoneración o
`reconocimiento u otra orden que pueda ser
`conveniente en virtud de la legislación
`aplicable en los Estados Unidos, así como
`una solicitud de inicio de un procedimiento
`concursal de reorganización judicial bajo la
`ley chilena, de ser necesario, y adoptar
`todas y cada una de las medidas que
`considere necesarias o apropiadas.
`
`El Directorio acordó que Christopher
`Bannister, en su calidad de Gerente
`General, Eduardo Jara Arnal en su calidad
`de
`Vice
`Presidente
`de
`Asuntos
`Corporativos, Álvaro Araya Zamorano en
`su calidad de Gerente de Finanzas,
`Thomas Leslie, Jaroslav Valiukevic y
`Timothy P. P´Connor, o las personas
`designadas por cada uno de ellos o
`aquellas que las reemplacen en el futuro en
`el caso del Gerente General, Vice
`Presidente de Asuntos Corporativos, o
`Gerente de Finanzas
`(cada uno, un
`“Firmante Autorizado” y colectivamente,
`
`that
`The Board of Directors agreed
`Christopher Bannister, in his capacity of
`Chief Executive Officer, Eduardo Jara Arnal
`in his capacity of Vice President of
`Corporate Affairs, Álvaro Araya Zamorano
`in his capacity of Chief Financial Officer,
`Thomas Leslie, Jaroslav Valiukevic and
`Timothy P. P´Connor, or each such officer’s
`designees or those who may replace them
`in the future in case of the Chief Executive
`Officer, Vice President of Corporate Affairs,
`or Chief Financial Officer
`(each, an
`“Authorized Signatory” and collectively,
`the “Authorized Signatories”) of
`the
`Company, acting alone or with one or more
`
`4
`
`

`

`Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 11 of 32
`
`“Firmantes Autorizados”) de la
`los
`Sociedad, actuando solos o con uno o más
`de los otros Firmantes Autorizados podrán,
`junto con los asesores de la Sociedad,
`ejecutar y presentar en nombre de la
`Sociedad todas las peticiones, a ejecutar y
`presentar en nombre de la Sociedad todas
`las peticiones, anexos,
`listas y otras
`mociones, solicitudes, alegatos, papeles o
`documentos, y a emprender todas las
`acciones que consideren necesarias o
`adecuadas para obtener dicho alivio bajo
`un procedimiento concursal, incluyendo,
`sin limitación, cualquier acción necesaria
`para mantener el funcionamiento ordinario
`de los negocios de la Sociedad y en
`relación con el Chapter 11 o un
`procedimiento concursal chileno, y para
`poder llevarlos a cabo con éxito.
`
`Para llevar a cabo lo anterior, el Directorio
`acordó por unanimidad que los Firmantes
`Autorizados estén, y por el presente están,
`autorizados y facultados, con todas y cada
`una de
`las
`facultades ordinarias y
`extraordinarias
`del mandato
`judicial
`contempladas en ambos incisos del artículo
`siete del Código de Procedimiento Civil (las
`que incluyen la facultad de desistirse en
`primera instancia de la acción deducida,
`aceptar la demanda contraria, absolver
`posiciones, renunciar a los recursos y los
`términos legales, transigir, con declaración
`expresa que
`la
`facultad de
`transigir
`comprende
`también
`la
`transacción
`extrajudicial, comprometer, otorgar a los
`árbitros facultades de arbitradores, aprobar
`convenios
`judiciales o extrajudiciales,
`percibir, otorgar quitas o esperas; aprobar
`acuerdos
`judiciales o extrajudiciales,
`percibir,
`conceder
`reducciones
`o
`renuncias), así como representar con
`amplias facultades a la Sociedad en todo
`tipo de procedimientos concursales que se
`susciten dentro y fuera del
`territorio de
`Chile, estando especialmente facultado
`para iniciarlos, así como para conocer,
`modificar
`y
`adoptar
`acuerdos
`de
`reorganización ya sea en Estados Unidos o
`
`5
`
`other Authorized Signatories may, together
`with the Company’s advisors, execute and
`file on behalf of the Company all petitions,
`schedules,
`lists and other motions,
`applications,
`pleadings,
`papers,
`or
`documents, and to take any and all actions
`that they deem necessary or proper to
`obtain such
`relief,
`including, without
`limitation, any action necessary to maintain
`the ordinary course operation of
`the
`Company’s businesses and in connection
`with the Chapter 11 Cases or a Chilean
`reorganization proceeding, with a view to
`the successful prosecution of the cases.
`
`In order to carry out such assignment, The
`Board of Directors unanimously agreed that
`the Authorized Signatories be, and they
`hereby are, authorized, empowered and
`directed (including with each of the ordinary
`and extraordinary powers of the legal
`mandate provided for in both paragraphs of
`Article Seven of
`the Chilean Civil
`Procedural Code, which include the power
`to withdraw in the first instance from the
`filed action, to accept the opposing claim, to
`waive positions, to waive remedies and
`legal
`terms,
`to compromise, with
`the
`express declaration that the power to
`compromise also includes the extrajudicial
`compromise, to agree on arbitral clauses, to
`grant
`the arbitrators
`the powers of
`arbitrators (ex aequo et bono), to approve
`judicial or extrajudicial agreements,
`to
`perceive, to grant reductions or waivers), as
`well as represent the Company, with full
`powers,
`in all
`types of
`insolvency
`proceedings, both within and outside the
`territory of Chile, with particular powers to
`initiate them, as well as to know, modify and
`approve reorganization agreements, either
`in the United States of America or in Chile,
`and to attend and vote in the hearings,
`
`

`

`Case 24-10628-KBO Doc 1 Filed 04/01/24 Page 12 of 32
`
`Chile, y asistir y votar en las audiencias,
`juntas y/o comisiones de acreedores que
`se celebren con motivo de la tramitación de
`los
`respectivos
`procedimientos
`concursales. Las facultades precedentes
`no revocan ningún otro poder otorgado por
`la Sociedad con anterioridad.
`
`meetings and/or creditors' committees held
`in connection with the management of the
`respective bankruptcy proceedings. The
`foregoing powers shall not revoke any other
`powers previously granted by
`the
`Company.
`
`El Directorio acordó por unanimidad que los
`Firmantes Autorizados estén, y por el
`presente están, autorizados y facultados
`para emplear:
`
`The Board of Directors further unanimously
`agreed
`that each of
`the Authorized
`Signatories be, and
`they hereby are,
`authorized and directed to employ:
`
`™ al estudio de abogados White &
`Case LLP (“W&C”) como asesor
`general en materia de insolvencias
`y al estudio de abogados Richards,
`(“RLF”) como
`Layton & Finger
`asesor
`local en materia de
`insolvencias, en cada caso para
`representar y asistir a la Sociedad
`en el
`cumplimiento de
`sus
`obligaciones en virtud del Código de
`Quiebras, y para llevar a cabo todas
`las acciones necesarias para
`promover
`los
`derechos
`y
`obligaciones de
`la Sociedad,
`incluida
`la
`presentación
`de
`cualquier
`moción,
`objeción,
`respuesta, solicitud o alegato; y en
`relación con ello, cada uno de los
`Firmantes Autorizados, con poder
`de delegación, queda por
`la
`presente autorizado y
`facultado
`para ejecutar
`los acuerdos de
`retención apropiados, pagar
`las
`retenciones apropiadas, y hacer
`que se presente una solicitud
`apropiada de autorización para
`retener los servicios de W&C y RLF
`de conformidad con la ley aplicable;
`
`™ a la empresa Riveron Consulting
`LLC (“Riveron”)
`como
`asesor
`financiero y de reestructuración y a
`Rothschild & Co US
`Inc.
`(“Rothschild”)
`como banco de
`inversión de la Sociedad, en cada
`caso para representar y asistir a la
`Sociedad en el desempeño de sus
`funciones en virtud del Código de
`
`6
`
`™
`
`the law firm of White & Case LLP
`(“W&C”) as general bankruptcy
`counsel and
`the
`law
`firm of
`Richards, Layto