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NEW YORK (AP) - Northwest Airlines can begin seeking creditor approval of a plan to exit bankruptcy that values the company at an estimated $7 billion, a judge ruled Monday.
The decision puts the airline in the last stages of bankruptcy before it can emerge from court protection.
U.S. Bankruptcy Judge Allan Gropper said that once Northwest revises its disclosure statement to incorporate agreements reached Monday, the statement could be released to creditors along with a restructuring plan.
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