Eastern Submits Plan: Eastern Airlines submitted its...
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From Times Staff and Wire Reports
Eastern Submits Plan: Eastern Airlines submitted its revised reorganization plan to creditors, after the creditors committee dropped plans to develop alternatives to the company’s proposal. Joel Zweibel, a New York attorney representing the unsecured creditors committee, said Eastern sent copies of the plan to the creditors, who will study it and meet next Tuesday to vote. The plan details Eastern’s proposals for repaying its debts after it emerges from Chapter 11 bankruptcy reorganization.
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