Northwest Shareholders Fight Reorganization Extension | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

AMA Drone Report

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday

Airborne-Thursday

Airborne-Friday

Airborne-Unmanned w/AUVSI

Airborne On ANN

AMA 10.19.17

Airborne 10.16.17

Airborne 10.17.17

Airborne 10.18.17

Airborne 10.19.17

Airborne 10.20.17

Airborne-Unmanned 10.17.17

Airborne-YouTube

AMA 10.19.17

Airborne 10.16.17

Airborne 10.17.17

Airborne 10.18.17

Airborne 10.19.17

Airborne 10.20.17

Airborne-Unmanned 10.17.17

NEW!!! 2017 AirVenture Innovation Preview -- YouTube Presentation / Vimeo Presentation

Thu, Mar 15, 2007

Northwest Shareholders Fight Reorganization Extension

Say Airline Has Had More Than Enough Time On Matter

Now it's our turn... or it should be, anyway. Some shareholders in bankrupt Northwest Airlines are fighting the carrier's request to extend the exclusivity period on its Chapter 11 reorganization plan.

The Associated Press reports that period is set to lapse Friday -- after which time other parties may submit their own plans to bring Northwest out of bankruptcy. As Aero-News reported, lawyers for the Eagan, MN-based airline have asked for an extension until June 29 -- which, not by coincidence, is around the time Northwest expects to exit Chapter 11.

This week, a group of shareholders told a New York bankruptcy judge Northwest has already had 18 months to sort itself out, and asked that the extension be tossed out. The investors are concerned Northwest's plan doesn't adequately explore what the airline would be worth if Northwest chose to merge with another airline while still in Chapter 11.

"All indications point to consolidation among the legacy airlines, but the Debtors refuse to exploit this opportunity," the shareholders wrote. "Terminating exclusivity -- and allowing all qualified bidders and plan proponents due diligence -- will ensure that the estate does not lose this opportunity."

A hearing on the matter is set for Thursday.

FMI: www.nwa.com

Advertisement

More News

RFP: ANN Seeking New Site/Facility For Major Studio Upgrade

It's Official: Aggressive Upgrades For New Airborne Programs WILL Require New Digs It's been in development for years, but we're getting to a point where we think we can pull off s>[...]

Airborne-Unmanned 10.17.17: Eagles v Drones, DJI AeroScope, Drone Policy

Also: AeroVironment Award, Washington State Patrol, Altavian Nova UAS, Robotaxis The French Military is training four Golden Eagles to attack drones in flight as a way to defend ag>[...]

Airborne 10.19.17: 200th TBM 900-Series, MooneyShares, E-AB Accident Stats

Also: Supersonic Test, Kobe Steel, Sullenberger Awarded, A-29 Super Tucanos, Textron, 109th AW CDR Daher recently rolled out its 200th TBM 900-series very fast turboprop aircraft s>[...]

Airborne 10.19.17: 200th TBM 900-Series, MooneyShares, E-AB Accident Stats

Also: Supersonic Test, Kobe Steel, Sullenberger Awarded, A-29 Super Tucanos, Textron, 109th AW CDR Daher recently rolled out its 200th TBM 900-series very fast turboprop aircraft s>[...]

Airborne 10.18.17: Airbus C Series Deal, Red Bull!, Drone v Airline

Also: Glasair 2 And 3 Sold, Send Solutions, Blue Angels, SSBJ, D8 Airliner, Stage 5 Aircraft, Global Supertanker Airbus SE and Bombardier are to become partners on the C Series air>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC