Northwest Reaches Rapprochement Over Leases

Law360, New York (July 16, 2007, 12:00 AM EDT) -- Two months after emerging from bankruptcy, Northwest Airlines Corp. has finally settled one of the claims still lingering in its Chapter 11 case, putting to rest a dispute with Wells Fargo over aircraft leases.

On Monday, U.S. District Judge Stuart Bernstein signed off on the proposed stipulation agreement between the reorganized carrier and Wells Fargo Bank Northwest, National Association over a slew of aircraft leases that date back to before Northwest ducked into bankruptcy.

“The debtors are authorized under the [Bankruptcy Code] to enter into this...
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