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

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 04.20.15

Airborne 04.21.15

Airborne 04.22.15

Airborne 04.23.15

Airborne 04.24.15

Airborne Hi-Def On YouTube

Airborne 04.20.15

Airborne 04.21.15

Airborne 04.22.15

Airborne 04.23.15

Airborne 04.24.15

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 04.24.15: DA62 Cert, Flt Design's C4, Sporty Transitions, 1st Flt Fight

Also: Legend Cub, Piper Orders, Postal UAVs?, IMC Club 'Brown Jacket Award', X-47B Refueling The Diamond DA62 has received its EASA Type certificate. After a sunny and warm day Wed>[...]

Airborne 04.24.15: DA62 Cert, Flt Design's C4, Sporty Transitions, 1st Flt Fight

Also: Legend Cub, Piper Orders, Postal UAVs?, IMC Club 'Brown Jacket Award', X-47B Refueling The Diamond DA62 has received its EASA Type certificate. After a sunny and warm day Wed>[...]

Airborne 04.23.15: Able Flight, Diesel Archer, RutanRC!

Also: United Bars Security Expert, Airborne Advisors, NTSB Video, Avidyne, Cessna, Airport Access Tempest Plus Marketing Group has announced support for Able Flight as a Platinum L>[...]

ANN's Daily Aero-Linx (04.25.15)

Helicopter History Site This historical evolution of rotary wing aircraft is dedicated to all those that were involved in the development of the most versatile vehicle known by man>[...]

ANN's Daily Aero-Term (04.25.15): Previously Manufactured Aircraft

Existing aircraft-like vehicles meeting the definition of light-sport aircraft that do not meet the provisions of 14 CFR part 103, Ultralight vehicles, and are in a ready-to-fly co>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2015 Web Development & Design by Pauli Systems, LC