AMR, Citigroup Seek Bankruptcy Law Relief for Fuel Hedging Deal
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AMR Corp. and Citigroup Inc. said they would ask a judge to sign a fuel-price hedging deal they reached that would lift bankruptcy rules to allow AMR to make payments and grant security to the bank. Citigroup will have a first-priority lien on AMR’s collateral, according to a court filing yesterday. A judge yesterday approved a similar pact between AMR and Morgan Stanley.