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How Chapter 11 saved the US economy

from Forbes

It's no surprise that Harvard Business School professor Stuart C. Gilson gave an enthusiastic thumbs-up to the recently announced $11 billion US Airways/American Airlines merger. The deal, which came after American's parent company, AMR Corporation, declared bankruptcy in November 2011, will allow the airline to work with the court to restructure and unload a significant amount of its debt, giving an iconic company "a second bite of the apple," says Gilson. more


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