Northwest Airlines says gets court approval to exit bankruptcy |
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Published
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Fri, 18 May 2007 18:50
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LONDON (Thomson Financial) - Northwest Airlines Corporation said it has received final court approval of its Plan of Reorganization, allowing the airline to exit bankruptcy on May 31.The airline said the judge for the U.S. Bankruptcy Court for the Southern District of New York signed the order confirming Northwest's Plan of Reorganization.On May 9, Northwest announced that 98.4 pct of the dollar amount of claims that voted and 96.9 pct of the airline's creditors who voted, approved Northwest's plan.Northwest said it expects that it will emerge from Chapter 11 once all closing conditions of the Plan have been met and the company's 750 mln usd new equity rights offering has been funded.tf.TFN-Europe_newsdesk@thomson.comrwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Examiner named in Northwest bankruptcy 