ATA Holdings, parent of ATA airlines, took a major step toward exiting bankruptcy after the US Bankruptcy Court approved its disclosure statement, which specifies how it intends to finance its restructuring as well as its future operating plan. The reorganization plan calls for an investment of $120 million from MatlinPatterson, including $30 million in DIP financing that will be converted to equity upon emergence, up to $70 million in the form of equity and a standby commitment to purchase ...

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