AMR stock and claim transfer restrictions approved on interim basis

By Caroline Salls

Pittsburgh, Dec. 5 - AMR Corp. received interim court approval to restrict transfers of interest in its common stock and transfers of claims against the AMR debtors, according to a news release.

The interim order also imposes notification requirements on substantial owners of AMR common stock and unsecured claims against the debtors.

Substantial equityholders are those who are or would become the beneficial owner of 4.5% of the outstanding shares of AMR.

The order also applies to substantial claimholders, who own or become owners of more than a $190 million threshold amount of unsecured claims.

AMR said the order is designed to prevent specified transfers of common stock and claims that could affect the estates' ability to use their net operating loss carryovers and other tax attributes on a reorganized basis.

Any acquisition, disposition or other transfer of equity or claims after Nov. 29 is covered by the restrictions.

The final hearing is scheduled for Dec. 22.

AMR, the Fort Worth-based parent of American Airlines, filed for bankruptcy on Nov. 29 in the U.S. Bankruptcy Court for the Southern District of New York. The Chapter 11 case number is 11-15463.

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