Judge denies AMR CEO $20 mln severance
April 12 (Reuters) - A judge has rejected a proposed severance payment of nearly $20 million for Thomas Horton, the chief executive of American Airlines parent AMR Corp, saying the payout is not allowed under federal bankruptcy law.
U.S. Bankruptcy Judge Sean Lane in Manhattan made his ruling in a decision on Thursday. The judge on March 27 approved AMR's plan to merge with US Airways Group Inc, a step toward creating the world's largest airline.
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- Pennsylvania sniper held without bail in trooper shooting |
- Global shares jump, yen slumps as BOJ cranks up stimulus |
- Special Report: Tsunami evacuees caught in $30 billion Japan money trap
- Gazprom to resume gas supply after Ukraine pays $2.2 billion