Northwest Carrier Transfers Claims

Law360, New York (January 9, 2007, 12:00 AM EST) -- Northwest Airline Corp. regional operator Pinnacle Airlines Corp. agreed to assign $355 million of its $377.5 million in unsecured claims against the bankrupt airline to third parties for $288 million, Pinnacle said in a U.S. Securities and Exchange Commission filing Tuesday.

Northwest’s debtors filed a motion at the end of December asking the bankruptcy court overseeing the airline’s Chapter 11 proceedings to approve an amended airline services agreement and claim resolution agreement with Pinnacle.

In the claim resolution agreement, Northwest agreed to give Pinnacle $377.5 million...
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