United, American Sue Chicago Over Airport Financing

Law360, New York (January 19, 2011, 4:38 PM EST) -- United Air Lines Inc. and American Airlines Inc. have sued Chicago over its planned multibillion-dollar expansion of O'Hare International Airport, saying the city was contractually obligated to receive the carriers' approval before beginning construction or issuing bonds to finance the project.

The complaint, lodged Tuesday in Cook County Circuit Court in Illinois, said the parties had agreed in their contracts to a "check and balance" that prohibited the city from saddling O'Hare with new capital projects and debt without the airlines' support.

Nonetheless, the city is...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.