U.S. District Judge Strikes Blow For Bondholders in United Case

Shields, Yvette
January 2005
Bond Buyer;1/28/2005, Vol. 351 Issue 32059, p1
Trade Publication
The article reports that a U.S. District Court judge has ruled that bankrupt United Airlines Inc., must repay $59 million of special facilities revenue bonds issued for projects at Los Angeles International Airport as a condition of its airport lease. The decision from U.S. District Court Judge John W. Darrah reverses a March ruling from U.S. Bankruptcy Court Judge Eugene Wedoff that the obligation to repay the bonds was included in agreements that were not "true leases" but instead "disguised" financing arrangements.


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