Businessweek Interviews Manatt Partner on Airline’s Rights as a Creditor
“US Airways Gets Voice in AMR Bankruptcy by Buying Debt”
July 13, 2012 – Bloomberg Businessweek interviewed Manatt’s Ivan Kallick, chair of the firm’s Bankruptcy & Financial Restructuring Practice, on the rights that US Airways Group has as a creditor to the near-bankrupt AMR, the parent company of American Airlines.
Businessweek reports that US Airways paid $630,000 to buy AMR’s 6.25 percent notes due in October 2014 and become a creditor in the company’s bankruptcy. American Airlines is a potential merger target for US Airways.
As a creditor, US Airways gains the right to show up at bankruptcy hearings, comment on issues before the judge and file documents in the court record, said Kallick and other bankruptcy lawyers. US Airways Chief Executive Officer Doug Parker has said he wants to merge with American, although a formal bid hasn’t been made.
Read the article here .