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PAN AM CORP. v. DELTA AIR LINES, INC.

No. 93 Civ. 7125 (RPP).

175 B.R. 438 (1994)

PAN AM CORPORATION, et al., Plaintiffs, v. DELTA AIR LINES, INC., Defendant and Counterclaim Plaintiff, v. PAN AM CORPORATION, et al. and The Official Committee of Unsecured Creditors of Pan Am Corporation and Affiliated Debtors, Counterclaim Defendants.

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

December 23, 1994.

Attorney(s) appearing for the Case

Cleary, Gottlieb, Steen & Hamilton by David E. Brodsky, Debra M. Buell, George Weisz, Jeffrey A. Rosenthal, James Bromley, Denise C. Morgan, Lee Dunst, New York City, for Pan Am Corp., et al.

Paul, Weiss, Rifkind, Wharton & Garrison by Stephen J. Shimshak, Elliot J. Schuchardt, New York City, for Pension Benefit Guaranty Corp.

Marcus Montgomery Wolfson P.C. by Neil T. Forrest, Arthur H. Ruegger, Richard Levy, A. Collin Biddle, New York City, for Official Committee of Unsecured Creditors.

Davis Polk & Wardwell by Dennis Glazer, John J. Clark, Jr., James Windels, M. Katherine Baird, Kirsten E. Rutnick, Julia Brickell, Walter A. Brill and Stroock & Stroock & Lavan by David Bolton, New York City, for Delta Air Lines, Inc.

OPINION AND ORDER: FINDINGS OF FACT AND CONCLUSIONS OF LAW

ROBERT P. PATTERSON, Jr., District Judge.

This case was tried before the Court from May 4, 1994 to June 10, 1994. The findings of fact and conclusions of law of this Court are as follows.

I. CHRONOLOGY OF THE PAN AMDELTA TRANSACTION

Pan Am Corporation and its subsidiaries (hereinafter "Pan Am") filed for bankruptcy protection...

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