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NW Requests Bankruptcy Extension To 6/07  
User currently offlineMikey711MN From United States of America, joined Nov 2003, 1397 posts, RR: 8
Posted (7 years 6 months 2 days 1 hour ago) and read 1782 times:

From the Minneapolis Star-Tribune article:

Northwest Airlines asks for bankruptcy extension
Associated Press

Northwest Airlines Corp. asked its bankruptcy judge to extend the period during which it alone can propose a reorganization plan.

A motion filed Friday in U.S. Bankruptcy Court in New York asked that the so-called exclusivity period be extended to June 29, 2007. It is due to expire March 16. Currently, only Northwest can propose a reorganization plan, which it did on Jan. 12. After the exclusivity period ends others, such as creditors, can propose their own plan for the company.

Northwest has said it intends to emerge from Chapter 11 by the end of the second quarter, which is June 30. It filed for bankruptcy protection on Sept. 14, 2005.


I plan on living forever. So far, so good...
4 replies: All unread, jump to last
 
User currently offlineTransWorldSTL From United States of America, joined Mar 2006, 568 posts, RR: 1
Reply 1, posted (7 years 6 months 2 days ago) and read 1713 times:

Quoting Mikey711MN (Thread starter):

A motion filed Friday in U.S. Bankruptcy Court in New York asked that the so-called exclusivity period be extended to June 29, 2007. It is due to expire March 16. Currently, only Northwest can propose a reorganization plan, which it did on Jan. 12. After the exclusivity period ends others, such as creditors, can propose their own plan for the company.

Northwest has said it intends to emerge from Chapter 11 by the end of the second quarter, which is June 30. It filed for bankruptcy protection on Sept. 14, 2005.

Does this mean they're scared of what their creditors would do to them?


User currently offlineDetroitflyer From United States of America, joined Oct 2006, 391 posts, RR: 0
Reply 2, posted (7 years 6 months 2 days ago) and read 1683 times:

yes, it could be that OR maybe they just have a plan they want to implemet

both of these are guesses though



Boiler Up!!!
User currently offlinePSU.DTW.SCE From United States of America, joined Jan 2002, 7565 posts, RR: 28
Reply 3, posted (7 years 6 months 2 days ago) and read 1672 times:

That has always been the plan to emerge in the 2Q of 2007. They just had to file an extension to get to that date. No real postponement as they were never planning to emerge in March anyways.

User currently offlineWorldTraveler From , joined Dec 1969, posts, RR:
Reply 4, posted (7 years 6 months 1 day 19 hours ago) and read 1529 times:

this is a bit interesting. DL didn't extend its period of exclusivity after it filed its plan of reorganization and disclosure statement, both of which NW has now filed. However, it isn't uncommon for companies to keep their period of exclusivity until they emerge.

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