US Trustee Balks, But AMR Holds On To $4.1B

Law360, New York (January 27, 2012, 4:06 PM EST) -- A New York bankruptcy judge on Friday allowed American Airlines Inc. parent AMR Corp. to keep the vast majority of its $4.1 billion in cash in alternative investment accounts that the U.S. Trustee's office said were not properly protected under the bankruptcy code.

“I appreciate the diligence of the U.S. Trustee's office,” said U.S. Bankruptcy Judge Sean H. Lane in overruling the government's objection and granting the airline operator a waiver that lets it continue using what it says are highly liquid, AA-rated or better short...
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