If a federal bankruptcy judge decides in the coming days that a pilot strike at Delta Air Lines Inc. has irreparably crippled the carrier, companies that Delta owes money to, such as The Boeing Co., IBM and Michelin North America Inc., may find themselves with little recourse. A liquidation would offer only pennies on the dollar for most creditors. "All you could do is stick your head in the corner and cry," said William J. Rochelle, a Fulbright & Jaworski partner who represents Boeing.
April 14, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
If a federal bankruptcy judge decides in the coming days that a pilot strike at Delta Air Lines Inc. has irreparably crippled the carrier, companies that Delta owes money to, such as The Boeing Co., IBM and Michelin North America Inc., may find themselves with little recourse.
The legal options available to Delta’s creditors are extremely limited. A liquidation would offer only pennies on the dollar for most creditors.
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