debtor

“It’s not a routine Chapter 11 case,” a lawyer for lenders that have agreed to provide First Brands with more than $1 billion in emergency debtor financing told the judge.

In April, the IMF had approved a new loan of $20 billion for Argentina, already its biggest debtor.

Those failed attempts have made Argentina the International Monetary Fund’s largest debtor, with more than $41 billion currently owed to the IMF.

He also noted that the church could have used this time to rearrange money and property to make sure certain funds or accounts are not part of the debtor’s estate.

The bankruptcy filing was designed to facilitate “orderly sales of the debtor’s assets,” he said.