E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 10/20/2005 in the Prospect News Distressed Debt Daily.

Delta trustee objects to request for retired pilots committee

By Caroline Salls

Pittsburgh, Oct. 20 - Delta Air Lines, Inc.'s U.S. Trustee objected to DP3, Inc.'s request for appointment of a committee of retired pilots for the company's Chapter 11 case, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The trustee said the recently appointed official committee of unsecured creditors is intended to represent the entire unsecured creditor body.

"It is true that the retirees have specific interests in this case that are at odds with other creditors," the trustee said in the objection. "However, all unsecured creditors are united in their desire to investigate and understand the financial affairs of [Delta], and to maximize value."

A hearing is scheduled for Oct. 27.

Delta, an Atlanta-based airline, filed for bankruptcy on Sept. 14. Its Chapter 11 case number is 05-17923.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.