March 19, 2024
Airline holding company SAS AB, the Stockholm-based owner of Scandinavian Airlines, received a New York bankruptcy judge's approval Tuesday for a reorganization plan that will turn over control of the business to investors that collectively agreed to provide $1.2 billion as part of a refinancing deal last year.
February 13, 2024
More than 40 pensioners of bankrupt Scandinavian airline SAS have told a New York bankruptcy court that their claims should not be thrown out, saying SAS cannot brush off its obligations by pointing the finger at the pension fund when the fund acts as its proxy.
February 06, 2024
A New York bankruptcy judge on Tuesday congratulated SAS, the Stockholm-based owner of Scandinavian Airlines, for avoiding turbulence in its Chapter 11 case and granted the debtor permission at a hearing to send its reorganization plan out for a creditor vote.
November 09, 2023
A New York bankruptcy judge on Thursday signed off on a new $500 million financing plan for Scandinavian Airlines System Inc. that puts the troubled airline on track to exit bankruptcy in March, after the debtor resolved the lone outstanding objection to the replacement package.
October 21, 2022
Navient Solutions is appealing a nationwide injunction barring it from collecting on certain student loans discharged through bankruptcy, Mallinckrodt creditors are suing for the return of $1.6 billion used to buy back shares pre-bankruptcy, and liquidators for crypto hedge fund Three Arrows Capital want to serve subpoenas via Twitter. This is the week in bankruptcy.
October 18, 2022
A New York bankruptcy judge Monday allowed Scandinavian airline SAS to retain a pair of investment bankers in its Chapter 11 case, overriding concerns voiced by the U.S. Trustee's Office over alleged ties between the airline and one of the proposed advisers.
October 05, 2022
Scandinavia airline SAS AB announced Wednesday it had reached agreements with 10 aircraft lessors to amend leases covering 36 planes in its fleet as it continues to pursue cost-cutting measures as part of its restructuring efforts.
September 09, 2022
A New York bankruptcy judge Friday gave Scandinavian airline SAS AB approval to take out $700 million in Chapter 11 financing, despite what he said were concerns about plan provisions granting the lender the right to make offers for the airline's equity.
July 28, 2022
Military veteran claims pushed earplug maker and 3M unit Aearo into bankruptcy, a New Jersey judge ordered an estimation process for talc claims in the Chapter 11 of Johnson & Johnson's talc unit and the founders of bankrupt cryptocurrency hedge fund Three Arrows Capital are not responding to subpoenas. This is the week in bankruptcy.
July 27, 2022
Bankrupt Scandinavian airline SAS AB told a New York federal judge Wednesday it has resolved a pilot labor action that threatened its restructuring plan, and it is moving toward a $700 million Chapter 11 financing package.