Northwest To Hand JPMorgan $24M In Repayment Deal

Law360, New York (October 20, 2006, 12:00 AM EDT) -- In a bid to bury the hatchet with JPMorgan Chase Bank, Northwest Airlines Corp. is seeking federal bankruptcy court approval for a deal that will see the bankrupt carrier shelling out $24 million in interest and fees on a $975 million loan that was paid off earlier this year.

In court documents filed Thursday in the U.S. Bankruptcy Court for the Southern District of New York, Northwest said it believes that the settlement represents a desirable outcome in light of the potentially costly and time-consuming litigation...
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