Japan Airlines' Tuesday bankruptcy filing in Tokyo listed 2.3 trillion yen ($25 billion) in liabilities, making it one of the largest restructurings in Japanese history. If JAL were an American company, this would be the point at which lawyers began descending on it in droves. Since it's not, we turned to one of JAL's lawyers, Kazuhiro Yanagida, an associate at Tokyo's Nishimura & Asahi, for some insight into what happens now. Turns out things can be expected to play out a bit differently in Japan.
What's Next for Bankrupt Japan Airlines?
The American Lawyer
January 21, 2010