- Category
- Media Mentions
- Date
- May 06, 2009
- Title
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Trachtman Comments on Seventh Circuit Court of Appeals Ruling for United Airlines Bondholders
Litigation partner Jeffrey S. Trachtman was quoted in an AmericanLawyer.com article about the Seventh Circuit Court of Appeals ruling in favor of United Airlines bondholders, whom Kramer Levin represented. At issue was a decision by the Northern District of Illinois (affirming the Bankruptcy Court) that had valued United's terminal space at LAX securing certain airport revenue bonds at approximately $33 million. The United States Court of Appeals for the Seventh Circuit reversed that decision, finding that the fair market value of the terminals was enough to pay in full the approximately $60 million owed on the bonds, plus millions of dollars in accrued interest. Trachtman was quoted as saying that the decision is a good one for fairness to secured creditors, and that debtors who keep valuable collateral should have to pay fair value. Corporate Restructuring and Bankruptcy partner Amy Caton was also noted as having worked on the case.
Related People
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Jeffrey S. Trachtman
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- Partner
- New York
- vcard
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