Confirmation hearing date set on TWA's prepackaged plan; TWA receives court permission to pay trade creditors in ordinary couse of business.ST. LOUIS--(BUSINESS WIRE)--June 30, 1995--Trans World Airlines Inc. (AMEX AMEX See: American Stock Exchange :TWA) announced today that the confirmation hearing for its prepackaged pre·pack·age tr.v. pre·pack·aged, pre·pack·ag·ing, pre·pack·ag·es To wrap or package (a product) before marketing. Adj. 1. plan of reorganization was set for Aug. 2, 1995. Should the Court confirm the plan of reorganization on that date, TWA expects to complete its restructuring and emerge from Chapter 11 no later than Aug. 31, 1995. TWA announced earlier today that it had filed the plan under Chapter 11 of the U.S. Bankruptcy Code in bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. in St. Louis. The presiding judge presiding judge n. 1) in both state and federal appeals court, the judge who chairs the panel of three or more judges during hearings and supervises the business of the court. is Barry Schermer. TWA also said that the Court has given the company permission to pay both the pre- and post-petition debt of its trade creditors in the ordinary course of business. CONTACT: Robert Mead 212/484-6701 |
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