USBNA Says AMR Debtholders Need More Transparency

Law360, New York (December 16, 2011, 11:08 PM EST) -- U.S. Bank National Association on Thursday objected to American Airlines Inc.'s request in New York bankruptcy court to extend a 60-day stay on its aircraft leases, saying the airline needed to provide more assurances to public debtholders.

USBNA, acting as a trustee with regard to a large number of American's aircraft leases and financing transactions, said the airline's proposal for agreements under Section 1110(a) of the Bankruptcy Code lacked the transparency necessary for a bankruptcy proceeding.

"Sunlight is the best disinfectant, and full disclosure is in...
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