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 05.02.16

Airborne 05.03.16

Airborne 05.04.16

Airborne 05.05.16

Airborne 05.06.16

Airborne Hi-Def On YouTube

Airborne 05.02.16

Airborne 05.03.16

Airborne 05.04.16

Airborne 05.05.16

Airborne 05.06.16

AEA2016 LIVE Aero-TV: 04/27-0830ET, 04/28-1400ET, 04/29-1100ET

Sun 'n Fun 2016 Innovation Preview on Vimeo!

Sun 'n Fun 2016 Innovation Preview on YouTube!

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 05.05.16: Huerta at AUVSI, F22 Coming Back?, Flt School Leaves SMO

Also: Canadian Airshows, SAFE, Airbus A350 XWB, Master Instructors, No-Fly Violin, Brussels Reopens, Echodyne Speaking yesterday at the AUVSI XPONENTIAL conference in New Orleans, >[...]

Airborne 05.05.16: Huerta at AUVSI, F22 Coming Back?, Flt School Leaves SMO

Also: Canadian Airshows, SAFE, Airbus A350 XWB, Master Instructors, No-Fly Violin, Brussels Reopens, Echodyne Speaking yesterday at the AUVSI XPONENTIAL conference in New Orleans, >[...]

Aero-News: Quote Of The Day (05.06.16)

“This resolution expresses our thanks to the brave aviators who serve in the Coast Guard for their heroic life-saving efforts and instrumental role in keeping our nation safe>[...]

ANN's Daily Aero-Linx (05.06.16)

NTSB Aviation Accident Database The NTSB aviation accident database contains information from 1962 and later about civil aviation accidents and selected incidents within the United>[...]

ANN's Daily Aero-Term (05.06.16): Nonapproach Control Tower

Authorizes aircraft to land or takeoff at the airport controlled by the tower or to transit the Class D airspace. The primary function of a nonapproach control tower is the sequenc>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC