From today's Newsreal:
On Friday, United filed its updated proposed schedule for exiting Chapter 11 with the U.S. Bankruptcy Court. Under the proposed schedule, United will formally begin the exit process on Wednesday, September 7, when it files its Plan of Reorganization and Disclosure Statement.
The hearing to approve the Disclosure Statement is scheduled to begin on October 11, 2005, and may continue until the next day. Following Court approval of the Disclosure Statement, the company will begin the process of soliciting votes on its Plan of Reorganization. United has proposed that the deadline by which eligible parties should have voted on the POR be set for December 1, 2005. This proposed schedule would allow for a confirmation hearing to begin in mid-January 2006, and an official exit from bankruptcy soon thereafter, early in the new year.
In its scheduling motion, United also proposed a process and schedule for obtaining closure in January with respect to three of its largest claims and distributions, prior to the POR confirmation hearing.
We will continue to keep you updated as we move further along in the exit process.
On Friday, United filed its updated proposed schedule for exiting Chapter 11 with the U.S. Bankruptcy Court. Under the proposed schedule, United will formally begin the exit process on Wednesday, September 7, when it files its Plan of Reorganization and Disclosure Statement.
The hearing to approve the Disclosure Statement is scheduled to begin on October 11, 2005, and may continue until the next day. Following Court approval of the Disclosure Statement, the company will begin the process of soliciting votes on its Plan of Reorganization. United has proposed that the deadline by which eligible parties should have voted on the POR be set for December 1, 2005. This proposed schedule would allow for a confirmation hearing to begin in mid-January 2006, and an official exit from bankruptcy soon thereafter, early in the new year.
In its scheduling motion, United also proposed a process and schedule for obtaining closure in January with respect to three of its largest claims and distributions, prior to the POR confirmation hearing.
We will continue to keep you updated as we move further along in the exit process.