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January 26, 2012

Fight over American hiring bankruptcy advisors postponed to Feb. 29

A courtroom showdown over AMR Corp.'s request to hire several bankruptcy advisors and financial consultants has been postponed until February 29.

Originally, the bankruptcy court was scheduled to hear AMR's motions to hire firms such as Bain & Co., McKinsey & Co. and Rothschild Inc. at a hearing on Friday. According to filings made on Wednesday, those motions have been deferred to a hearing scheduled later next month.

AMR, American Airlines and American Eagle have asked the court for permission to hire these consultants. The U.S. Bankruptcy Trustee, the Transport Workers Union and the Association of Professional Flight Attendants have filed objections to the numerous consultants and investment firms that AMR wants to employ.

Here is the list of firms that AMR has asked to hire that will be heard by the court at the February 29 hearing.

-Rothschild Inc, financial advisor and investment banking services

-Bain & Co., strategic consultants for American Eagle

-SkyWorks Capital, advisor for aircraft restructuring

-Perella Weinberg Partners, financial advisor

-McKinsey & Co., management consultants

-Groom Law Group, law firm for special employee benefits

-Debevoise & Plimpton, law firm for special aircraft

-Paul Hastings, counsel for labor

-KPMG, tax consultants

-Morgan Lewis & Bockius, law firm

-Deloitte Financial Advisory Services, consultants

-Andrea Ahles



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... a certain number of palms must be greased, especially the political palms, to assure the restructuring will be a success - Rothschild and Bain Capital are most notable.


And yet again the unions are showing their true colors by causing problems and road blocks from day one.

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