N.Y. Court Gives Varig Time To Settle With U.S. Creditors
A New York bankruptcy court this week gave Varig a three-week extension to reduce and settle its debts with U.S. aircraft lessors. The court also ordered Varig to deposit immediately in escrow $5 million, plus $5 million on Dec. 28. Creditor GECAS was instructed to free $8.3 million appropriated...
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