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AMR bankruptcy judge leaning toward approving reorganization plan
August 29, 2013 / 4:31 PM / 4 years ago

AMR bankruptcy judge leaning toward approving reorganization plan

Aug 29 (Reuters) - A U.S. bankruptcy judge on Thursday hinted that he would give his blessing to AMR Corp’s bankruptcy exit plan despite the federal government’s challenge to the plan’s main component: AMR’s planned megamerger with US Airways Group Inc.

At a hearing in U.S. Bankruptcy Court in Manhattan, Judge Sean Lane held off on confirming the plan, but said he found “arguments in favor of confirmation to be fairly persuasive.”

The U.S. Department of Justice’s antitrust regulator earlier this month filed a lawsuit to block the merger, saying it would lead to higher fares for consumers. Approval of the plan by Lane would not override the DOJ’s lawsuit, which would still need to be resolved in order for the plan to go into effect.

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