PAL Explains Local Filing Of Chapter 11

Philippine Airlines (PAL) today confirmed the filing of its petition before the local courts for the recognition of any court action stemming from its filing for a Chapter 11 bankruptcy filing in the US Court of New York.

Photo Insert: Philippine Airlines Airbus 320

Accordingly, the flag carrier said that it has filed with the Pasay City court a petition enjoining the local courts to abide by the decision to be made in respect of its Chapter 11 filing to address its losses stemming from the pandemic.

The "principal purpose of ensuring that the local courts will recognize formally the Chapter 11 process and the corresponding decisions the New York court may grant or award." PAL said of its petition with Pasay City courts.

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