AMR Seeks OK To Seal $50M Deal With Chartis

Law360, New York (February 13, 2012, 2:49 PM EST) -- American Airlines Inc. parent AMR Corp. asked a New York bankruptcy judge on Friday to let it assume agreements with workers' compensation insurer Chartis Inc., which agreed to cut $50 million from AMR's bill if the contract is accepted and paid by March 9.

AMR says it is in its best business judgment to accept the contract for a number of reasons — it must maintain workers' compensation policies, there are 5,100 open workers' compensation claims against it totaling about $400 million and the $50 million...
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