$15.6M Claim Against Delta Reinstated On Appeal

Law360, New York (May 12, 2008, 12:00 AM EDT) -- A district judge has reversed a bankruptcy court's ruling that disallowed $15.6 million in claims lodged by Lone Star Air Partners LLC against Delta Airlines Inc., dealing Delta a blow in its dispute with Lone Star over leveraged lease transactions involving aircraft.

U.S. District Judge Shira A. Scheindlin signed off Thursday on an opinion and order directing the bankruptcy court to reinstate Lone Star's claim and agreeing with Lone Star that the sale of its interest in three planes was attributable to an indenture trustee's “exercise...
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