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Bondholders Oppose Delta-Cincinnati Airport Deal

Law360 (March 14, 2007, 12:00 AM EDT) -- Holders of over $45 million in bonds issued to build the Cincinnati/Northern Kentucky International Airport lashed out at a proposed settlement between Delta Air Lines Inc. and the Kenton County Airport Board on Tuesday, arguing that the deal violates Kentucky state law.

In an objection filed Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, the bondholders, who hold over 10% of the bonds issued to build the airport, called the proposed settlement “fatally defective.”

The bondholders said the proposed deal violates...
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