United Owes Creditor Full $60M On Loan: 7th Circ.

Law360 (May 5, 2009, 12:00 AM EDT) -- A federal appeals court handed a victory to a United Air Lines creditor Tuesday, ruling that a bankruptcy court undervalued improved airport terminals in Los Angeles that the airline used to secure $60 million in bonds to fund the renovations.

A three-judge panel of the U.S. Court of Appeals for the Seventh Circuit remanded the case, finding that both the bankruptcy and district courts erred in using the rate that Los Angeles International Airport charged airlines to lease unimproved terminal space to put a price tag...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.