Apparently satisfied that an investor group organized by Varig employees has its financial affairs in order, a Rio de Janeiro bankruptcy court judge approved a BRL1.01 billion ($449.7 million) bid for the ailing airline late Monday. Judge Luiz Roberto Ayoub had given his conditional blessing to the proposal from NV Participacoes last week but said he needed more time to review the bid structure and financial details (ATWOnline, June 16). "The consortium has presented the explanations and the ...

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