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VOL. 126 | NO. 237 | Tuesday, December 06, 2011

Court Blocks Large AMR Investors From Selling

AP

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DALLAS (AP) – A bankruptcy court judge has blocked big investors from selling their stock in bankrupt American Airlines parent AMR Corp.

The company said Monday that it sought the ruling to protect its ability to use various tax provisions after emerging from Chapter 11 bankruptcy protection.

The federal court in New York restricted the ability of investors with at least a 4.5 percent stake in AMR from selling stock or creditors with unsecured claims of more than $190 million from transferring the debt while the company is in bankruptcy proceedings.

AMR said the court issued a preliminary ruling last week and will hold a final hearing on the issue Dec. 22.

The company said in a statement that it sought the order to protect its ability to use net operating loss carry-overs and other tax advantages after it reorganizes in bankruptcy.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 108 194 12,820
MORTGAGES 108 222 16,692
FORECLOSURE NOTICES 16 20 3,310
BUILDING PERMITS 0 162 27,856
BANKRUPTCIES 71 139 10,629
BUSINESS LICENSES 25 48 4,252
UTILITY CONNECTIONS 104 216 16,566
MARRIAGE LICENSES 22 55 3,746

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