Bankruptcy Judge Nixes CEO's $19.87M Severance Payment From AMR's Plan

Bankruptcy Judge Nixes CEO's $19.87M Severance Payment From AMR's Plan

NEW YORK - The federal bankruptcy judge presiding over the Chapter 11 proceeding of AMR Corp., the parent company of American Airlines Inc., on Sept. 13 partially granted the objections of the U.S. trustee to the company's second amended Chapter 11 plan, approving the payment of some professional fees but denying a severance payment of more than $19.87 million for AMR's outgoing chief executive officer (In Re: AMR Corporation, No. 11-15463, Chapter 11, S.D. N.Y. Bkcy.).

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