Mexicana Wins Legal Shield to Aid Mexican Bankruptcy
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Compania Mexicana de Aviacion SA, Mexico’s biggest airline by passengers, won its request for bankruptcy protection from U.S. creditors, after disputes were resolved with a bank and a group of airports.
U.S. Bankruptcy Judge Martin Glenn in Manhattan court today approved Mexicana’s request for protection under Chapter 15 of the U.S. bankruptcy code. The ruling will help the 87-year-old company reorganize in its main bankruptcy in Mexico by giving it a legal shield from U.S. creditors.