Virgin Atlantic Airways Chapter 15 bankruptcy case closed by court

By Sarah Lizee

Olympia, Wash., Nov. 12 – Virgin Atlantic Airways Ltd.’s Chapter 15 bankruptcy case was closed Thursday by the U.S. Bankruptcy Court for the Southern District of New York, according to an order.

As previously reported, foreign representative Shai Weiss asked the court to close the case, saying there were no outstanding issues requiring further relief under Chapter 15.

Under a restructuring plan, the debtor sought to amend a revolving credit facility, some lease arrangements, arrangements with trade creditors and arrangements with its affiliates in order to reduce and/or reschedule its payment obligations. The recapitalization was completed on Sept. 4.

Virgin is a Crawley, England, airline that filed Chapter 15 bankruptcy on Aug. 4. The Chapter 15 case number is 20-11804.

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