United Airlines parent UAL Corp. this morning said it postponed the filing of documents that would detail its planned exit from bankruptcy protection. The company last month said it would file "on or about Aug. 1" a plan of reorganization, a disclosure statement and related materials
(BTN, July 18).
UAL said it agreed with a committee of unsecured creditors to delay the filing "in order to provide an additional opportunity to continue collaborating on and reviewing the complex, extensive documents as part of the overall confirmation process." Today's announcement puts into question UAL's stated intentions to complete a bankruptcy restructuring sometime this fall. The company filed for Chapter 11 in December 2002.