Originally Posted by
Tomas E
The same should be true for Sweden. It seems that the attractiveness of US Chapter 11 for SAS is that it gives SAS a bit more time to try to restructure with its physical assets still in place, and that the management and board stays in control to a higher degree than what would be the case if there was a formal restructuring under Swedish law.
Being in charge of a company declared insolvent can be a career killer when done in Sweden. In the US it can be a rainmaking event that delivers a pot of gold at the end of the rainbow.
i can only hope that MSA messes this up and leaves a bit of egg on the face oF SAS management, their American co-counsel, themselves and management’s backers.