Japan Airlines Wins Ch. 15 Protection

Law360, New York (February 17, 2010, 6:02 PM EST) -- Japan Airlines Corp. received a U.S. bankruptcy court's blessing Wednesday to enter Chapter 15, which will protect the company's American assets and limit its exposure to U.S. litigation as it undergoes restructuring efforts in its home country.

Judge James Peck signed off on the order recognizing Japan Airlines' main foreign proceedings under Japan's Corporate Rehabilitation Act, currently pending before the Tokyo District Court, Civil Department No. 8, and granting its Chapter 15 petition, following a hearing in the U.S. Bankruptcy Court for the Southern District of...
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