Wells Fargo Urges Approval Of $246M Delta Deal

Law360, New York (July 21, 2006, 12:00 AM EDT) -- Given the choice between a $246 million settlement and repossessing five Delta Airlines jets, Wells Fargo Northwest has opted for the cash, asking a bankruptcy court to back the proposed settlement.

“The settlement and note repayment cannot be consummated without a finding by this court that they are fair, not only to the debtors, but also to the nondebtor public debt holders," the bank said in a court filing.

The settlement would wrap up a May 3 lawsuit filed by Wells Fargo, the Trustee for the...
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