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PAL confident of securing nod for restructuring plan
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PAL bankruptcy filing prompts review of PHL insolvency law
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Philippine Airlines Inc (PAL) Reaches Agreement with Key Stakeholders to Successfully Navigate the COVID-19 Pandemic and Position the Company for Long-Term Growth and Profitability - Press Release
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It has been raining cats and dogs for over a week. What we experienced, based on an old folklore is the proverbial “siyam-siyam” or incessant rain for nine days! This prevented most of us from doing our usual chores with our laundry hamper already brimming.
A different kind of turbulent weather is haunting the restructuring program of Philippine Airlines (PAL). I heard the flag carrier’s top honcho Gilbert Sta. Maria and PAL independent member of the board Gregorio “Greggy” Yu flew to New York but at the last minute decided to hold off the filling of Chapter11.
What gives? Is the decision to defer the filling led to the resignation of Mr. Greggy? As an accomplished banker, Mr. Greggy was given the draconian responsibility of chairing the rehabilitation committee.