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730 F.3d 88 *; 2013 U.S. App. LEXIS 18900 **; 58 Bankr. Ct. Dec. 122; 2013 WL 4840474
IN RE: AMR CORPORATION ET AL., Debtors, U.S. BANK TRUST NATIONAL ASSOCIATION, as Trustee and Security Agent under the Indenture and Aircraft Security Agreement for American Airlines 2009-2 Senior Secured Notes Due 2016, as Loan Trustee and Pass Through Trustee under those certain Indenture and Security Agreements with respect to the AMR 2009-1 EETC and AMR 2011-2 EETC Transactions, Appellant, -v.- AMR CORPORATION, AMERICAN AIRLINES, INC., Appellees.
Subsequent History: As Amended September 17, 2013.
US Supreme Court certiorari denied by U.S. Bank Trust N.A. v. AMR Corp., 134 S. Ct. 1888, 188 L. Ed. 2d 913, 2014 U.S. LEXIS 2588 (U.S., Apr. 21, 2014)
Prior History: [**1] U.S. Bank Trust National Association ("U.S. Bank") appeals from the decision of the United States Bankruptcy Court for the Southern District of New York (Lane, B.J.), authorizing Debtors AMR Corporation and American Airlines (collectively "Debtors" or "American") to obtain postpetition secured financing and to repay existing prepetition debt owed to U.S. Bank, and denying U.S. Bank's request for relief from the automatic stay. We granted U.S. Bank's petition for authorization of direct appeal under 28 U.S.C. § 158(d)(2)(A). On appeal, U.S. Bank argues that American is voluntarily attempting to repay the debt owed on its Notes and therefore must pay a Make-Whole Amount under the terms of the Indentures and pursuant to its 11 U.S.C. § 1110(a) elections. We disagree and therefore AFFIRM the bankruptcy court's order and judgments authorizing American to seek postpetition financing and to repay outstanding principal and interest (but no Make-Whole Amount) to U.S. Bank and declining to lift the automatic stay.
U.S. Bank Trust Nat'l Ass'n v. Am. Airlines, Inc. (In re AMR Corp.), 485 B.R. 279, 2013 Bankr. LEXIS 239 (Bankr. S.D.N.Y., Jan. 17, 2013)
acceleration, Default, automatic, Indentures, Make-Whole, elections, facto, ipso, redemption, cure, aircraft, triggered, lease, financing, maturity, lift, regularly, repay, waive, decelerate, Noteholders, contractual, rescind, notice, unenforceable, outstanding, modify, executory, repayment, unpaid
Bankruptcy Law, Administrative Powers, Executory Contracts & Unexpired Leases, Termination Clauses, Contracts Law, Contract Conditions & Provisions, General Overview, Scope of Stay, Exceptions to Stay, Transportation Equipment, Judicial Review, Standards of Review, De Novo Standard of Review, Procedural Matters, Jurisdiction, Abuse of Discretion, Automatic Stay, Relief From Stay, Procedural Matters, Contract Interpretation, Ambiguities & Contra Proferentem, Parol Evidence, Business & Corporate Compliance, Contracts Law, Standards of Performance, Creditors & Debtors, Claims Against Estate Property, Bankruptcy, Estate Property, Contractual Rights, Contents of Estate, Types of Contracts, Executory Contracts, Estate Property Lease, Sale & Use, Conflicting Contract & Law Provisions, Existing Defaults