Hedge Fund Creditors Criticize AMR For Lack Of Transparency

Law360, New York (October 19, 2012, 8:12 PM EDT) -- Two hedge funds that hold more than $800 million in American Airlines debt blasted AMR Corp. on Thursday for not letting them in on discussions about the company's emergence from bankruptcy, according to a news report Friday.

In a letter to AMR CEO Tom Horton obtained by the Wall Street Journal, Appaloosa Management LP and Marathon Asset Management said the airlines have engaged in “inappropriate” talks with the bankruptcy’s ad hoc group of bondholders.

Those talks include AMR’s purported requests for more financing for the company...
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.