Shareholders Group Objects To Northwest's Extension

Law360, New York (March 13, 2007, 12:00 AM EDT) -- A group of Northwest Airlines shareholders has objected to the airlines request for yet more time to file a reorganization plan, arguing the debtors have had “far too long” as it is.

The ad hoc committee of equity security holders, which filed their objection in the Manhattan bankruptcy court Monday, claimed Northwest did not deserve a third extension of exclusivity because the carrier had made little progress since September 2005.

“They have enjoyed exclusivity for 18 months and they still do not have a plan that...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.