AMR Preserves Right to Propose Plan of Reorganization
On March 22, 2012, American Airlines, which filed bankruptcy on November 29, 2011, obtained bankruptcy court approval to extend its exclusive right to file a plan of reorganization until September 28, 2012. Under section 1121 of the Bankruptcy Code, a debtor has an exclusive period of time (120 days after the commencement of a case) […]
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