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UAL and Creditors Come to Terms

January 12, 2006 By: Susan Young Travel Agent

UAL Corp. and the Official Committee of Unsecured Creditors said they reached a consensual agreement to resolve all of the issues between the company—of which United Airlines is the major entity—and the committee, including the committee's previous objections to United's plan of reorganization. The final agreement will be reflected in an amended POR, to be filed with the U.S. Bankruptcy Court in the Northern District of Illinois ahead of the POR confirmation hearing. The consensual agreement is a major step in United's restructuring. United said it plans to confirm the plan next week and exit bankruptcy next month.

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