Cantor Fitzgerald Seeks OK to Sue Airline (re: 9/11)

[The Straight Story]

Cantor Fitzgerald Seeks OK to Sue Airline


MANHATTAN (CN) - Cantor Fitzgerald, the securities firm that lost 658 employees in the 9/11 terrorist attacks on the World Trade Center, asked a bankruptcy judge for permission to continue its lawsuit against American Airlines.

Cantor Fitzgerald sued the Fort Worth-based airline in 2004 for damages from the attacks. On Friday it asked U.S. Bankruptcy Judge Sean Lane to lift the automatic stay on lawsuits against American's parent company, AMR, which filed for Chapter 11 in November.

"The impact of the automatic stay causes significant harm to Cantor Fitzgerald because it further delays Cantor Fitzgerald's ability to recover a portion of the damages it suffered as a result of the events of September 11, 2011 - over ten years ago," Cantor wrote in its request for an order granting relief from the automatic stay.

AMR filed for Chapter 11 bankruptcy protection on Nov. 29, after being mired in red ink for years. It reported losses in 14 of the past 16 quarters, while many other domestic airlines have returned to profitability.

http://www.courthousenews.com/2012/01/09/42851.htm

[trumad]

1. Can you imagine working for a company that lost that many employees in one day.

Wow... still boggles my mind.

[DeathToTheOil]

2. Next they'll be suing the WTC architects and construction workers

Afrer all, the building did get in the way!

[Mz Pip]

3. Ridiculous

How in the world is AA responsible for the losses Cantor Fitzgerald took? How do they expect to collect from a firm that is in Chapter 11 even if by some wild stretch of the imagination they do win?

[Old and In the Way]

4. I imagine the case would hinge on AA's security or the lack thereof.

Discovery would be interesting.