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PIONEER COMMERCIAL FUNDING CORP. v. UNITED AIRLINES, INC.

Nos. 89 Civ. 7147 (GLG), 90-Civ. 2296 (GLG).

122 B.R. 871 (1991)

PIONEER COMMERCIAL FUNDING CORP., Plaintiff, v. UNITED AIRLINES, INC., Defendant. The BANK OF TOKYO TRUST COMPANY, Security Pacific National Bank, and Banque Nationale de Paris, San Francisco Agency, Plaintiffs, v. UNITED AIRLINES, INC., Defendant.

United States District Court, S.D. New York.

January 11, 1991.

Attorney(s) appearing for the Case

Weil, Gotshal & Manges, New York City (Marvin E. Jacob, Philip S. Weber, Alexandra Margolis, of counsel), for Pioneer Commercial Funding Corp.

Jones, Day, Reavis & Pogue, New York City (Thomas L. Abrams, of counsel), Broad, Schultz, Larson & Wineberg, San Francisco, Cal. (Marcy J. Bergman, Richard A. Rogan, Pamela J. Tennison, of counsel), for The Bank of Tokyo Trust Co., Sec. Pacific Nat. Bank, and Banque Nationale de Paris, San Francisco Agency.

Winston & Strawn, Cole & Deitz, New York City (Robert S. Fischler, of counsel), Stephen P. Sawyer, Asst. Gen. Counsel, Elk Grove Township, Ill. (Stephen P. Sawyer, of counsel), Winston & Strawn, Chicago, Ill. (Duane M. Kelley, Thomas J. Frederick, of counsel), for United Airlines, Inc.

OPINION

GOETTEL, District Judge:

I. FACTS1

Presidential Airways, Inc. ("Presidential"), a Maryland corporation with its principal place of business located in Herndon, Virginia, operated from February 1988 until December 1989 as a feeder airline for United Airlines, Inc. ("United"), a Delaware corporation having its principal place of business in Chicago, Illinois. Specifically, Presidential operated as a "United Express...

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