By Sarah de Sainte Croix, Senior Contributing Reporter
RIO DE JANEIRO, BRAZIL – On Monday, AMR Corporation, the parent company of American Airlines, announced that it had filed for a voluntary reorganization under Chapter 11 of the U.S. Bankruptcy Code, while reassuring customers that business was expected to continue as normal.
According to information from the United States Federal Courts, the usual procedure under Chapter 11 is for the debtor to propose a plan of reorganization that enables the business . . .
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