UAL Secures Order to Limit Stakeholders
UAL Corp., the parent of United Airlines, said it secured a Bankruptcy Court order to prevent holders of large stakes in the airline from selling or transferring their holdings.
The company said the order applies to entities that hold $65 million or more in claims against UAL or 2.5 million shares or more of the company’s stock.
UAL said the court order, in effect until a Dec. 30 hearing to reconsider its appropriateness, would help preserve its current operating losses, a major asset in terms of tax benefits.
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