Bank Blames Union For Lack Of $5M Fee In US Airways Deal

Law360, New York (February 13, 2013, 3:44 PM EST) -- A pilots' union didn't try hard enough to make sure US Airways Group Inc. would pay Glanzer & Co. LLC's $5 million success fee for helping the union negotiate a new contract, the boutique investment bank's attorney told a New York state judge during a hearing Tuesday.

Marco A. Santori of Nesenoff & Miltenberg LLP, who represents Glanzer, said that the Air Line Pilots Association International was contractually obligated to use its "best efforts" to make sure that US Airways would pay a $5 million success...
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