Northwest Trustee Protests Ad Hoc Settlement

Law360, New York (May 29, 2007, 12:00 AM EDT) -- The U.S. Trustee in Northwest Airlines Corp.'s Chapter 11 case has objected to a settlement reached between the airline and its frequent sparring partner, the ad hoc committee, arguing that the deal is unwarranted.

On Friday, U.S. Trustee Diana G. Adams filed a notice of appeal with the U.S. Bankruptcy Court in Manhattan, seeking to overturn an order that approved Northwest's $5 million deal with the committee.

Earlier this month, a federal bankruptcy judge gave the green light to Northwest's amended reorganization plan in a move...
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.