American Airlines, its parent company (AMR) and a variety of its subsidiaries originally filed for bankruptcy back in November 2011, yet it wasn’t until October 2013 that the Bankruptcy Judge handling the case was finally able to sign a court order approving the reorganization plan the companies had proposed. While many would think that would be the end of the bankruptcy, it was not.
All of the various lawyers and law firms, financial advisors, consultants and other professionals who provided American Airlines and AMR with services during this period of time were given until February 7th, 2014 to submit their final bills to the U.S. Bankruptcy Court in New York. Reports indicate that as of early that evening the court had received bills totaling close to $395 million in fees and $17 million in other expenses. Additional bills would then bring the final total up to right around $416 million in fees and expenses.
Filing for bankruptcy can be a very expensive, time-consuming and stressful proposition. For many companies it is also their last chance of being able to regain control of their finances, restructure their debt and resume normal business operations. We are well aware of the fact that there are a large number of bankruptcy lawyers you can choose from to represent your case. The firm and counsel you ultimately choose to represent you will have a direct and significant impact on the success of your case. Jacoby & Jacoby is a well-established bankruptcy law firm that has been providing legal representation to clients since 1964.
During this time we have handled more than 15,000 bankruptcy cases and helped our clients eliminate millions of dollars in debt. Our founding lawyers are both proven litigators with an in-depth understanding of state and federal bankruptcy laws. With a free, confidential consultation we will be able to assess your needs and advise you of the bankruptcy options or other types of debt relief you may be eligible to pursue. We work hard to help our clients resolve all of their debt-related problems so that they can have a greater chance of achieving financial viability. Call a Long Island bankruptcy lawyer at our firm to find out how we can help you.