Enterprise Turnaround Initiative Corp. of Japan, a state-backed body tasked with Japan Airlines Corp.'s rehabilitation, is expected to decide within this month whether and how it will save the nation's largest airline. A major focus is whether the program will be a court-led bankruptcy or handled out of court.
ETIC reportedly favors a court-led bankruptcy, while JAL's major creditors favor the second option.
What are the differences between the two, and their advantages and disadvantages?