Republic Airlines (Indianapolis International) had its Plan of Reorganisation approved by the United States Bankruptcy Court on Thursday, April 20, allowing the airline to emerge from Chapter 11 bankruptcy by the end of April.
However, creditor Wells Fargo has filed an appeal against the confirmation order, and has elected to have the appeal heard by the United States District Court rather than the Bankruptcy Appellate Panel. The appeal was filed late on Friday afternoon.
Wells Fargo previously objected to the second amended joint plan of reorganisation alongside ALF VI, known together as Residco, but that objection was rejected in a decision last week. Wells Fargo/Residco have claims against Republic in regard to the lease of seven E145 aircraft – N288SK, N561RP, N259JQ, N286SK, N287SK, N563RP and N562RP.
