Bank Attacks Delta Over Aircraft Leases

Law360, New York (April 16, 2007, 12:00 AM EDT) -- Delta Air Lines’ reorganization plan has come under fire by the Bank of New York, which wants the carrier to make up its mind about aircraft leases before the plan is confirmed.

The bank filed an objection with the Manhattan bankruptcy court on Friday, saying it opposed Delta’s plan to defer its decision on unexpired leases assigned to the bank as indenture trustee, and wants the airline to reject or assume the leases now.

“There is no legal basis in the Bankruptcy Code to defer the...
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