Northwest Airlines moved closer to emerging from Chapter 11 after a US Bankruptcy Court judge this week approved a $5 million settlement between the airline and a shareholder group that opposed the reorganization plan that is expected to receive court approval soon, clearing the way for next month's exit (ATWOnline, May 10). According to press reports, shareholders were led by Owl Creek Asset Management and Marathon Asset Management and collectively own nearly 25% of the carrier's current ...

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