Judge Stays Bondholder Payments For Indianapolis United Facility

Carvlin, Elizabeth
June 2003
Bond Buyer;6/18/2003, Vol. 344 Issue 31659, p1
Trade Publication
A Marion County, Indiana, Superior Court judge issued a temporary restraining order on June 10, 2003, that prevents Fifth Third Bank from distributing bond funds on about 35 million dollars of outstanding special facility revenue bonds issued through the Indianapolis Airport Authority for the city's United Airlines Inc. maintenance facility. The order prevents Fifth Third from distributing bond funds until the court settles several issues raised in a lawsuit filed against the trustee by the airport authority in June 2003. The U.S. Bankruptcy Court in Chicago, Illinois, where the airline's chapter 11 case is proceeding, released United from its lease on the maintenance facility at the Indianapolis International Airport. The court also declared that bond funds at issue are not part of the bankruptcy estate.


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