Mikey711MN From United States of America, joined Nov 2003, 1380 posts, RR: 8 Posted (6 years 2 months 3 weeks 3 days 10 hours ago) and read 1250 times:
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.
TransWorldSTL From United States of America, joined Mar 2006, 568 posts, RR: 1 Reply 1, posted (6 years 2 months 3 weeks 3 days 10 hours ago) and read 1181 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?
Detroitflyer From United States of America, joined Oct 2006, 375 posts, RR: 0 Reply 2, posted (6 years 2 months 3 weeks 3 days 9 hours ago) and read 1151 times:
yes, it could be that OR maybe they just have a plan they want to implemet
PSU.DTW.SCE From United States of America, joined Jan 2002, 6874 posts, RR: 29 Reply 3, posted (6 years 2 months 3 weeks 3 days 9 hours ago) and read 1140 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.
WorldTraveler From , joined Dec 1969, posts, RR: Reply 4, posted (6 years 2 months 3 weeks 3 days 4 hours ago) and read 997 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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From United States of America, joined Nov 2003, 1380 posts, 
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