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Following Italian Bankruptcy, Alitalia Files Ch. 15

Law360 (November 4, 2008, 12:00 AM EST) -- Struggling Italian airline Alitalia SpA has filed for Chapter 15 bankruptcy protection to cover its assets in the United States.

The Friday filing in the U.S. Bankruptcy Court for the Southern District of New York followed the airline's bankruptcy declaration in Italy after it was unable to find a buyer.

Italian Prime Minister Silvio Berlusconi approved Alitalia's bankruptcy on Aug. 29, while two of its subsidiaries were granted bankruptcy protection in Italy in September.

Alitalia asked for professor Augusto Fantozzi, who is serving as the special...
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