Dave Noble
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nasdaq said:Struggling airline Compania Mexicana de Aviacion filed for bankruptcy protection in the U.S. and Mexico Monday amid labor unrest and mounting financial woes.
Mexicana, which also sought protection restructuring under the Mexican equivalent of Chapter 11, filed for bankruptcy under Chapter 15 in a New York bankruptcy court to protect its U.S. assets from creditors.
The privately held airline, Mexico's largest, is asking Judge Stuart M. Bernstein of the U.S. Bankruptcy Court in Manhattan to issue a temporary restraining order to bar creditors from seizing its assets in the U.S.
Full article at Mexicana Airlines Files For Chapter 15 Bankruptcy In US