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Northwest Files Reorganization Plan

Stock quotes in this article: NWACQ , LCC , DALRQ  

Northwest Airlines (NWACQ Quote) said it has filed its plan of reorganization, a key step on its road to emerging from bankruptcy in the second quarter.

The plan provides that unsecured creditors will receive common stock and the right to purchase additional shares. Existing shares will be cancelled, with no compensation given to the holders of those shares.

The company also has the right to raise capital through an equity rights offering. ...

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