A1FlyBoy
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United Said Consulting with Bankruptcy Lawyer
Updated 11:17 AM ET February 18, 2002
NEW YORK (Reuters) - UAL Corp.'s (UAL.N) United Airlines is in consultations with the head of its law firm's bankruptcy practice, Crain's Chicago Business reported on Monday, as the airline faces a potentially crippling strike.
Crain's reported that as part of United's contingency planning the company has begun consulting with bankruptcy attorney James Sprayregen, citing unnamed sources familiar with the situation.
Sprayregen, of UAL's longtime law firm, Chicago-based Kirkland & Ellis, was lead counsel for Trans World Airlines in its bankruptcy and sale last year, Crain's reported.
Asked about the Crain's report, a UAL spokesman told Reuters, ``We have hired no new counsel,'' but declined further comment.
Sprayregen and Kirkland & Ellis were not immediately available for comment.
United is facing a looming strike by 13,000 mechanics and cleaners, with a deadline on Tuesday. Some analysts have suggested that a strike could force the company into filing for bankruptcy protection.
The airline posted a net loss of $2.1 billion in 2001, an industry record
This doesn't sound to good. Could be to scare the mechanics. Who Knows?
Updated 11:17 AM ET February 18, 2002
NEW YORK (Reuters) - UAL Corp.'s (UAL.N) United Airlines is in consultations with the head of its law firm's bankruptcy practice, Crain's Chicago Business reported on Monday, as the airline faces a potentially crippling strike.
Crain's reported that as part of United's contingency planning the company has begun consulting with bankruptcy attorney James Sprayregen, citing unnamed sources familiar with the situation.
Sprayregen, of UAL's longtime law firm, Chicago-based Kirkland & Ellis, was lead counsel for Trans World Airlines in its bankruptcy and sale last year, Crain's reported.
Asked about the Crain's report, a UAL spokesman told Reuters, ``We have hired no new counsel,'' but declined further comment.
Sprayregen and Kirkland & Ellis were not immediately available for comment.
United is facing a looming strike by 13,000 mechanics and cleaners, with a deadline on Tuesday. Some analysts have suggested that a strike could force the company into filing for bankruptcy protection.
The airline posted a net loss of $2.1 billion in 2001, an industry record
This doesn't sound to good. Could be to scare the mechanics. Who Knows?