Creditors Defend Northwest Plan

Law360, New York (May 15, 2007, 12:00 AM EDT) -- Responding swiftly to objections of Northwest Airlines Corp.’s strategy for exiting bankruptcy, a creditors group has thrown its weight behind the plan, saying the carrier is poised to emerge a healthy and viable company.

In a statement filed Monday with the U.S. Bankruptcy Court for the Southern District of New York, the official committee of unsecured creditors urged the court to dismiss the objections, saying Northwest’s reorganization plan fairly distributes the value of the airline’s assets.

“The debtors are on the verge of an exceptional reorganization....
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