Bankrupt Mexicana Scrambles To Protect US Assets

Law360, New York (August 3, 2010, 11:39 AM EDT) -- Embattled Mexican airline Compania Mexicana de Aviacion SA de CV, a subsidiary of Nuevo Grupo Aeronautico SA de CV, has asked a U.S. bankruptcy court to bar creditors from seizing its American assets while the company undergoes reorganization in Mexican courts.

Mexico's largest airline filed for Chapter 15 protection in the U.S. Bankruptcy Court for the Southern District of New York on Monday, represented by William Heuer of Duane Morris LLP. It entered the equivalent of a Chapter 11 proceeding in the the District Court for...
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