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Judge Orders Delta To Pay $2M Monthly

Law360 (February 9, 2006, 12:00 AM EST) -- A federal bankruptcy judge has tentatively ordered embattled Delta Air Lines Inc. to pay $2 million a month to a bondholders trustee as a safeguard against any drop in the value of the jets the bankrupt carrier promised as collateral.

On Wednesday, U.S. Bankruptcy Judge Adlai Hardin tried to allay the fears of Delta’s trustee, Wells Fargo Bank N.A, regarding 32 planes the carrier had pledged as a debt offering in a 2004 bond deal.

Wells Fargo had asked the Manhattan bankruptcy court to require Delta...
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