About The Study
- Advisory Services
- Revitalization Plans
- Strategic Alternatives
United Airlines, Inc. (“United Airlines”) filed for bankruptcy in December 2002 due to its inability to meet financial obligations and years of operating losses. The nature of the airline’s business was extremely complicated and bankruptcy planning touched upon numerous cross-border issues as well as diverse creditor interests/claims.
Summary of Execution and Results
Members of ToneyKorf were part of the Debtors’ advisory team and instrumental in the pre-bankruptcy planning/filing process. ToneyKorf professionals performed cash flow-related planning, support to counsel associated with development of first day motions, management of claims cut-off, and assistance with preparation of bankruptcy filings. The airlines emerged from Chapter 11 in February 2006.