The Deal: AMR Confirmation Moves to Sept. 12
NEW YORK ( The Deal) -- A New York judge has moved the confirmation hearing for AMR Corp.'s (AAMRQ) reorganization plan for the second time in as many weeks as the American Airlines parent prepares for a trial with the U.S. Department of Justice.
Judge Sean Lane of the U.S. Bankruptcy Court for the Southern District of New York in Manhattan on Thursday heard arguments in favor of the plan from counsel to the debtor, unsecured creditors and certain unions before deciding to adjourn the hearing to Sept. 12 to allow the parties to continue preparing for the DOJ suit. The plan is based on an $11 billion merger of AMR and US Airways Group (LCC).
Lane previously ordered parties in the case to submit briefs in support or against confirmation by Aug. 23.
"The brief satisfies that
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts