A creditor group, which together hold around $600m of AMR bonds, formed of Carlson Capital, Claren Road Asset Management, Cyrus Capital Partners, Litespeed Management and Pentwater Capital Management are getting closer to a deal with AMR Corporation (which owns American Airlines) to inject around $2bn into the Chapter 11 company in a rights-offering backstop. Yesterday they sought court permission to pay the fees for Milbank Tweed Hadley & McCloy and Houlihan Lokey Howard & Zukin, the hedge funds’ lawyers and financial advisers respectively, as the group moves towards a deal that would see AMR exit bankruptcy intact and independent. The

This content is restricted to site members.

If you are an existing user, please login below.
New users may register below.

Existing Users Log In