Alitalia Sees Foreign Bankruptcy Recognized In US

Law360, New York (July 5, 2017, 3:33 PM EDT) -- Alitalia received legal recognition of its Italian bankruptcy from a New York court Wednesday, giving the distressed airline some breathing room with U.S. creditors while it deliberates whether to reorganize or liquidate through legal proceedings in its home country.

Alitalia coasted to Chapter 15 recognition as U.S. Bankruptcy Judge Sean H. Lane ruled from the bench that the Italian company had established its eligibility for foreign debtor protections and the primacy of its restructuring proceedings that have been taking place in Italy since the beginning of...
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