Supreme Court Will Not Hear Airport Bonds Case

Law360, New York (March 6, 2006, 12:00 AM EST) -- The U.S. Supreme Court has refused to hear a $155 million dispute over airport lease bonds between United Airlines and HSBC Bank in a case over whether the bonds should be classified under federal bankruptcy law as unsecured or secured debt.

HSBC had petitioned for certiorari after a lower court ruled that the $155 million in bonds was unsecured debt, and that United, operating under Chapter 11 bankruptcy protection, was exempt from repaying it.

The 7th Circuit Court of Appeals had ruled that determining the status...
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