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Clifford Chance

Briefings

Japan Airlines Back to Normal - Completion of the JAL Corporate Reorganisation

8 April 2011

On 28 March 2011, Japan Airlines (JAL) successfully exited its corporate reorganisation proceedings following the approval of the Tokyo District Court. The corporate reorganisation proceedings of JAL commenced on 19 January 2010, and the Court approved its reorganisation plan on 30 November 2010. While companies typically take about 2 years to exit reorganisation proceedings, JAL managed to return to normal business by refinancing most of its reorganisation claims after 1 year, 2 months from the commencement of proceedings.

In this briefing, we analyse how and why JAL exited very much ahead of the average timeframe.

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