AMR Blasts Trustee's Disclosure Statement Objections
By Gavin Broady
Law360, New York (May 31, 2013, 7:03 PM ET) -- AMR Corp. responded to criticism of its disclosure statement and proposed reorganization plan in New York bankruptcy court Friday, slamming the U.S. trustee for attempting to scuttle the plan over objections to a proposed $20 million severance deal for its outgoing CEO.
The American Airlines Inc. parent, which seeks to finalize an $11 billion merger with US Airways Group Inc. to create the world's largest airline, says the objections are premature and should be overruled. The plan, submitted in April, will purportedly yield approximately $1.4 billion...