Reuters: Bankruptcy News: Judge denies AMR CEO $20 mln severance

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Judge denies AMR CEO $20 mln severance Apr 12th 2013, 12:12 April 12 | Fri Apr 12, 2013 8:12am EDT April 12 (Reuters) - A judge has rejected a proposed severance payment of nearly $20 million for Thomas Horton, the chief executive of American Airlines parent AMR Corp, saying the payout is not allowed under federal bankruptcy law. U.S. Bankruptcy Judge Sean Lane in Manhattan made his ruling in a decision on Thursday. The judge on March 27 approved AMR's plan to merge with US Airways Group Inc, a step toward creating the world's largest airline.

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