This paper discusses whether the protection afforded to a U.S. carrier operating in Chapter 11 bankruptcy has a negative impact on the overall air transport industry.
Written in 2006; 4,775 words; 12 sources; MLA; $ 122.95
Paper Summary:
This case study looks at the impact of Chapter 11 protections on the airlines requesting the protection and also at the financial impact on the overall airline industry. The writer discusses Chapter 11-bankruptcy protection that has been seen as a lifeline for companies on the verge of total financial collapse. The writer explains that the protection given by U.S. Constitution allows companies another chance to reorganize while being protected from meeting normal financial and operating obligations.
Outline:
Statement of Problem: Issues to be studied
Background
Bankruptcy
Types of Bankruptcy
Chapter 7 Bankruptcy
Chapter 11 Bankruptcy
Other Types of Bankruptcy
Pre Deregulation Days Practices
Deregulation of Airline Industry in USA
Impact of Deregulation
Analysis
Post 9/11 Crises and their Impact on Air Travel Industry
Chapter 11 Protection Role in Supporting Sick Airlines
Assessment of Chapter 11 Protection on Airlines Industry
Related Issues
Discussions & Conclusions
Bibliography
From the Paper:
"The word bankruptcy comes from Latin 'bancus ruptus' which means broken bench. The roman custom allowed the creditors to smash the trading counter of the debtors to vent their anger. In 17th century England the debt defaulters were treated as criminals and thrown in the dungeons or given a death sentence. The punishment under the modern laws is not so hard and both debtors and creditors have rights under the bankruptcy proceedings.
In United States bankruptcy is a federal subject. States are not allowed to regulate the bankruptcy although they can make rules for debtor-creditor relationship. Bankruptcy law is contained in 'Title 11 of the United States Code'. It allows a debtor in financial problems to equitably divide his assets among the creditors. The 'straight bankruptcies' or liquidations distribute available assets among the creditors and release the debtors of any further obligations, even if the debts are not paid in full."
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