Skadden secured an important win for Avianca Holdings S.A. in litigation brought by its second-largest shareholder, Kingsland Holdings. Kingsland’s lawsuit attempted to block a strategic alliance Avianca is negotiating with United Airlines, Inc. On November 29, Avianca and Kingsland agreed to withdraw their respective lawsuits filed in New York State Supreme Court pursuant to stipulations discontinuing the two actions without prejudice. Kingsland withdrew its lawsuit after Avianca had twice succeeded in blocking Kingsland’s attempts to obtain expedited discovery and after Avianca had filed a motion to dismiss and prevailed on its motion to stay all discovery pending resolution of its motion to dismiss. Avianca consistently stated during the course of the litigation that Kingsland’s lawsuit was premature and meritless. Avianca continues to negotiate its strategic alliance with United Airlines.
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates