Northwest Airlines' disclosure statement was approved by a US Bankruptcy Court yesterday, clearing the way for the company to seek approval from creditors for its plan to emerge from Chapter 11 by the end of the second quarter with an anticipated equity value of $6.5-$7.7 billion. The ruling, which follows last month's filing of the disclosure statement (ATWOnline, Feb. 16), also paves the way for NWA to cancel existing common and preferred stock and sell new shares at $27 each. In addition, ...

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