Virgin Atlantic declares bankruptcy as pandemic rips apart airlines - Business Insider
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Summary
Tuesday's US filing appeared to be linked to the London hearing, at which a judge gave the go-ahead for a meeting allowing creditors to vote on the restructuring plan.Virgin has not entered administration, a form of bankruptcy in the UK."One of the most important goals of Chapter 15 is to promote cooperation and communication between US courts and parties of interest with foreign courts and parties of interest in cross-border cases," the US court system says on a website explaining the setup.In May, Virgin Atlantic said it would cut more than 3,000 jobs and close its base at London's Gatwick Airport, consolidating operations at London Heathrow to cut costs.
As said here by David Slotnick