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Delta exits bankruptcy leaner than when it entered 19½ months ago
April 30, 2007 - ATLANTA (AP) - Delta Air Lines Inc. emerged from bankruptcy protection Monday as an independent carrier after surviving a hostile takeover bid during a 19½-month reorganization that saw it eliminate jobs, cut costs, restructure its fleet and focus more on international flying. A U.S. Bankruptcy Court judge in New York had set 9 a.m. EDT as the time the Atlanta-based airline could exit from Chapter 11 by closing on a $2.5 billion loan that would allow it to pay back lenders who gave Delta money to help it operate while in bankruptcy. Delta's chief bankruptcy lawyer, Marshall Huebner, said in a 10:21 a.m. e-mail to The Associated Press that the wire transfers for the loan were completed. Delta, the nation's third-largest carrier, also on Monday released details of a rebranding effort that includes a new paint job for its planes, featuring the company's three-dimensional red logo flying across a blue background.
New York civil rights lawyer disbarred
A civil rights lawyer convicted of helping an imprisoned terrorist communicate with his disciples has been disbarred, notes a report in The Guardian.
The New York Supreme Court's Appellate Division denied Lynne Stewart's request to voluntarily resign from the practice of law. Stewart was convicted in 2005 of providing material support to terrorists. She had released a statement issued by one of her clients, Omar Abdel-Rahman, a blind sheik sentenced to life in prison for plotting to blow up five New York landmarks and assassinate Egypt's President. The appellate panel said Stewart became subject to losing her law licence immediately upon being convicted of a felony. Stewart was convicted of one count each of conspiracy to defraud the US, conspiracy to provide and conceal material support to terrorist activity and providing and concealing material support to terrorist activity.
Akerman nominates first firm president
US firm Akerman Senterfitt has taken steps to create its first-ever firm president, nominating its chief operating shareholder to the role. M&A partner Robert Zinn will be Akerman's inaugural president, which is akin to a managing partner at a UK firm, as first revealed by The Lawyer (23 April). Zinn will be responsible for the day-to-day running of the firm and will report to chairman Tom Cardwell. The 500-lawyer Florida firm, which also has offices in New York and Washington DC, is structured as a corporation rather than as a partnership, and as such refers to its senior staff as shareholders. Akerman's clients include Arriva Pharmaceuticals and Bank of America. It was Florida's second-largest firm in 2006 by revenue. Turnover topped $210m (104.81m) at the end of 2005, the most recent records available.
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