AMR Returns to ’Square One’ If Merger Blocked, Creditors

American Airlines would have to start over in its effort to restructure in bankruptcy after two years if the U.S. succeeds in blocking the carrier’s planned merger with US Airways Group Inc., creditors said.

The bankruptcy would go back “to square one with likely disruption and disarray among numerous, financially unaligned stakeholders,” the committee representing American’s unsecured creditors said in a court filing today in Washington.