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EASTERN AIRLINES ISSUES 71,000 CHECKS FOR $30 MILLION TO RESOLVE CLAIMS
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PR Newswire
- Article date:
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February 7, 1995
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Copyright informationCOPYRIGHT 1995 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MIAMI, Feb. 7 /PRNewswire/ -- The Estate of Eastern Airlines announced yesterday it issued 71,000 checks for $30 million to resolve virtually all remaining employee claims as well as all other general unsecured claims of $100,000 or less.
Vendors and other consumer claimants, such as ticketholders, will receive about $11 million. This is in addition to the $62 million already paid to ticketholders with administrative claims. Part of the current $11 million payment will be used to make payments to subordinated debtholders.
Certain former employees with allowed administrative and priority claims as well as all employees with general unsecured claims will receive 26,000 ...
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