|
|
Article: Bankruptcy Court Confirms US Airways Reorganization Plan; Company Set to Emerge from Chapter 11 on March 31, 2003.
- Article from:
- PR Newswire
- Article date:
- March 18, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Following a strong vote of approval by the company's creditors, the U.S. Bankruptcy Court today confirmed US Airways' plan of reorganization, allowing the company to continue on its path to a March 31, 2003, emergence from Chapter 11.
Judge Stephen S. Mitchell of the U.S. Bankruptcy Court of the Eastern District of Virginia for Alexandria ruled that all necessary requirements have been met to implement its reorganization. Yesterday, the company reported that all necessary creditor classes of all eight debtors in the Chapter 11 cases had voted to accept the reorganization plan. The acceptance rate by claim holders voting was 80.77 percent and by claim amount ...