Bondholders Strike Back At Delta Over Lease Deal

Law360, New York (May 24, 2007, 12:00 AM EDT) -- One month after Delta Air Lines Inc. flew out of bankruptcy, a group of disgruntled bondholders is challenging a bankruptcy court’s approval of a settlement over the carrier’s leases at the Cincinnati/Northern Kentucky International Airport.

The appeal, filed by the ad hoc committee of Kenton County bondholders Tuesday in the U.S. District Court for the Southern District of New York, takes issue with U.S. Bankruptcy Judge Adlai S. Hardin Jr.’s order approving the deal between Delta, the Kenton County Airport Board, and bond trustee UMB Bank...
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