Chapter 11, Title 11, United States Code

Scandinavian airline SAS said yesterday it has filed for so-called Chapter 11 bankruptcy proceedings in the United States, as a part of a restructuring plan, a day after pilots walked out on strike.     

A New York City court approved a plan by Latin America's largest airline, LATAM Airlines, to exit bankruptcy under US law, the carrier announced on June 18.     

The US Bankruptcy Court for the Southern District of New York has approved Aegean Marine Petroleum's reorganisation plan following the company's filing for Chapter 11 protection under US bankruptcy law.

The plan is the product of extensive negotiations between Aegean Marine Petroleum and a large number of its creditors.

Retailer Toys "R" Us has filed for Chapter 11 bankruptcy protection in a U.S. court, the company said, amid heavy debt and a tough environment for bricks and mortar stores.

The chain which sells toys and baby products in the United States as well 38 other countries and jurisdictions joins other traditional retailers that are struggling to compete with the likes of Amazon.

Troubled Japanese car parts maker Takata has filed for bankruptcy protection in the United States and Japan. It faces lawsuits and tens of billions of dollars in costs over an airbag defect linked to at least 17 deaths globally.