Associated Press
UAL Gets Bankruptcy Exclusivity Extension
Friday April 16, 3:32 pm ET
Judge Grants UAL Corp.'s Request to Extend Exclusivity Period on Company's Reorganization Plan
CHICAGO (AP) -- The judge overseeing the bankruptcy case of UAL Corp., the parent of United Airlines, granted a request to extend the exclusivity period on the company's reorganization plan to June 30.
Judge Eugene Wedoff of the U.S. Bankruptcy Court for the Northern District of Illinois refused to extend the period beyond that date, despite a request made in court by the company's lead attorney, James H.M. Sprayregen.
Sprayregen said that although a number of issues were resolved since last month's monthly hearing, much work remains to be done before the Chicago-based airline can emerge from bankruptcy.
UAL stands to benefit from recently passed pension legislation and the end of a United Express deal with Atlantic Coast Air Lines Inc.
"These developments illustrate United's methodical and systematic efforts to move its restructuring initiatives forward and winnow down the remaining issues it must address before exit," the company wrote in a status report filed with the court.
UAL Gets Bankruptcy Exclusivity Extension
Friday April 16, 3:32 pm ET
Judge Grants UAL Corp.'s Request to Extend Exclusivity Period on Company's Reorganization Plan
CHICAGO (AP) -- The judge overseeing the bankruptcy case of UAL Corp., the parent of United Airlines, granted a request to extend the exclusivity period on the company's reorganization plan to June 30.
Judge Eugene Wedoff of the U.S. Bankruptcy Court for the Northern District of Illinois refused to extend the period beyond that date, despite a request made in court by the company's lead attorney, James H.M. Sprayregen.
Sprayregen said that although a number of issues were resolved since last month's monthly hearing, much work remains to be done before the Chicago-based airline can emerge from bankruptcy.
UAL stands to benefit from recently passed pension legislation and the end of a United Express deal with Atlantic Coast Air Lines Inc.
"These developments illustrate United's methodical and systematic efforts to move its restructuring initiatives forward and winnow down the remaining issues it must address before exit," the company wrote in a status report filed with the court.
