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Four Years Later, United To Emerge From Bankruptcy

Law360 (January 20, 2006, 12:00 AM EST) -- Almost four years after entering Chapter 11 bankruptcy protection, United Airlines’ reemergence plan has been approved, putting an end to the tumultuous reorganization and leaving some parties still unsatisfied.

U.S. Bankruptcy Court Judge Eugene Wedoff called the plan, which will go into effect in February, the best available.

“Certainly not everyone can be happy—the holders of UAL stock will see the stock cancelled . . . and employees have seen their jobs cut,” the judge said.

In order to salvage the struggling company, United cut the...
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