29-Mar-2011 12:27 PM

Mexicana expects three-month extension to bankruptcy protection

Mexicana announced it expects to be granted a three-month extension to its bankruptcy protection which will allow the carrier more time to round up potential investors before being ruled to liquidate (Dow Jones, 28-Mar-2011). Mexicana’s legal protection will reportedly expire on 01-Apr-2011 without the extension. Mexican law reportedly allows companies 185 days to enter and exit bankruptcy protection, with the possibility of a 90-day extension if there are clear signs of progress towards restructuring.