JAL To Postpone Reorganization Plan By 2 Months

Law360, New York (May 25, 2010, 4:04 PM EDT) -- Japan Airlines Corp. reportedly said Tuesday that it will delay its reorganization plan for two months in order to tweak some of the details on cost-cutting measures.

The troubled airline, which is undergoing restructuring in Japan and is in Chapter 15 protection in the U.S. Bankruptcy Court for the Southern District of New York, won approval in the Tokyo District Court to hold off on submitting its plan until Aug. 31, according to a report by Agence France-Press.

The company had planned to turn in its...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.