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 10.29.14 ** HD iPad-Friendly -- Airborne 10.29.14 **
** Airborne 10.27.14 ** HD iPad-Friendly -- Airborne 10.27.14 **
** Airborne/NBAA2014 10.24.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.24.14 **

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

Airborne 10.29.14: Antares Launch Failure, GAMA Responds, Another 'Roadable'???

Also: Dragon Returns, Quadcopter Flown At Airliner?, Classic Aero-TV: Redhawk, Diesel Flt School Airplanes, WWII Bomber Found The unmanned Antares rocket built by Orbital Science C>[...]

Classic Aero-TV: ‘Have it Your Way!’ – The SPA Panther

A New Single-Seat SportPlane Shows Great Potential For Serious Fun While at the Sport Aviation Expo 2014, ANN CEO and Editor-In-Chief, Jim Campbell stopped by to talk with Dan Wese>[...]

AD: Bombardier, Inc. Airplanes

AD NUMBER: 2014-21-07 PRODUCT: Certain Bombardier, Inc. Model CL-600-2C10 (Regional Jet Series 700, 701, & 702) airplanes, Model CL-600-2D24 (Regional Jet Series 900) airplanes>[...]

AD: Airbus Airplanes

AD NUMBER: 2014-21-10 PRODUCT: Certain Airbus Model A330-200 and -300 series airplanes, and Model A340-200 and -300 series airplanes.>[...]

ANN's Daily Aero-Linx (10.31.14)

Ex-MACs This group is made of retired McDonnell Engineers, most of whom began their careers at MAC either on the F101, F3H or F4H programs.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC