United Case Settlement Postponed

Shields, Yvette
December 2004
Bond Buyer;12/27/2004, Vol. 350 Issue 32037, p1
Trade Publication
The article focuses on a federal bankruptcy court judge who postponed an approval of a settlement proposal between a majority of investors who hold $600 million of defaulted United Airlines Inc. special facilities revenue bonds for projects at O'Hare International Airport due to questions over the settlement's impact on Chicago's rights to enforce United's lease. Judge Eugene Wedoff recommended that United strike language from the settlement that appeared to strip Chicago of its rights to declare a default of United's use agreement at O'Hare for its non-payment of the bonds since its Chapter 11 filing two years ago.


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