The economy’s ongoing struggles are proving to be fruitful for bankruptcy lawyers betting on a second wave of corporate restructuring work in the United States and abroad.
The Am Law Daily reported Tuesday on the bankruptcy filing in Manhattan by AMR Corp., parent company of American Airlines. While the Chapter 11 case, which will be overseen by relatively new bankruptcy judge Sean Lane, is the second-largest filing ever by a major U.S. airline, it doesn’t rank among the largest bankruptcy cases in U.S. history.
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