Reuters: Bankruptcy News: AMR cites possibility of equity value in Chapter 11 case

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

AMR cites possibility of equity value in Chapter 11 case Jan 9th 2013, 00:08 Tue Jan 8, 2013 7:08pm EST Jan 8 (Reuters) - AMR Corp, the parent of American Airlines, said its business prospects have improved to the point equity holders might receive some value from its Chapter 11 reorganization. AMR, which filed for bankruptcy in November 2011, is weighing merging with rival US Airways Group Inc against exiting Chapter 11 as a standalone company. When companies go bankrupt, their stock is usually wiped out. AMR originally opposed the appointment of an equity committee in its Chapter 11 case because of an initial view that shareholders did not stand much chance of recovering anything meaningful. But in a Jan. 3 letter to the U.S. Justice Department, made public in a federal filing on Tuesday, AMR cited a "change in circumstances concerning the potential economic interests of AMR equity holders." The letter, written by AMR attorney Harvey Miller, says the carrier has made progress over the past year and its value has "significantly appreciated." The case is In re AMR Corp et al, U.S. Bankruptcy Court, Southern District of New York, No. 11-15463.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions