Japan Airlines Pays Debts, Emerges From Bankruptcy

Law360, New York (March 30, 2011, 2:40 PM EDT) -- Japan Airlines emerged from bankruptcy on Monday with a new trade name, Japan Airlines Co. Ltd., and confirmation from a Tokyo court that it had paid off its creditors.

Three judges in the Civil 8th Division of the Tokyo District Court found the debtor had repaid more than two-thirds of creditor claims in its reorganization plan, which was approved Nov. 30, and that, per the terms of that plan, the airline is no longer in default.

The airline provided an English-language version of the court's order....
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