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Article: Committee Formed to Protect Eastern's Unsecured Creditors; Group to Study Breakup or Sale of Airline
- Article from:
- The Washington Post
- Article date:
- March 23, 1989
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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A committee that includes a virtual who's who of the nation's
aerospace industry was appointed today to protect the interests of
unsecured creditors in the bankruptcy proceedings of Eastern Air
Lines.
Richard Lieb, temporary chairman of the 15-member committee,
said the group would immediately seek permission to hire an
accounting firm and an investment banker to look into then possible
breakup or sale of Eastern if needed to assure that the airlines's
creditors get their money back. Lieb, an attorney for American
Telephone and Telegraph Co., said the committee wanted to look at
"everything."
The committee was formed as Eastern prepared to go into federal
bankruptcy court here for the ...