P.M. BRIEFING : Airline Bankruptcy Case Halts
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NEW YORK — A bankruptcy court judge today adjourned a hearing in the Eastern Airlines case for several hours to allow the airline’s unsecured creditors a chance to discuss a new proposal offered by the airline.
The hearing was scheduled to consider a request by the unsecured creditors’ committee for a trustee to be appointed to take control of Eastern away from its current management and find a buyer for the crippled carrier.
The adjournment was requested by the attorney for the airline’s unsecured creditors’ committee.
Representatives of Eastern and its parent, Texas Air Corp., contacted the creditors Thursday night regarding a new proposal by the airline, said Joel Zweibel, attorney for the creditors.
The creditors’ committee agreed to meet with the airline’s representatives and consider the proposal today, he said.
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