Swissair Group Ordered to Pay $14M
Wed May 29,10:16 AM ET

MONTPELLIER, France (AP) - A French court on Wednesday ordered the defunct Swissair group to pay a debt of 15.25 million euros ($14.2 million) to a former subsidiary, French regional airline Air Littoral.


Swissair once had a 49 percent stake in Air Littoral, which is based in Montpellier in southern France. Before the Swiss carrier went bankrupt, it signed a contract with Air Littoral promising funding that it never paid.

A Montpellier court ruled that parent company SAirGroup is obliged to pay the sum because the deal was made before the Swiss carrier went bankrupt. A receiver is in charge of managing SAirGroup's remaining assets.

Swissair collapsed in October. A new Swiss airline, called Swiss, was formed out of the fusion of Swissair and a subsidiary, regional carrier Crossair.

http://story.news.yahoo.com/news?tmpl=story&u=/ap/20020529/ap_on_bi_ge/swissair_1

What is not mentioned in the articles, the court put personal responsibility and liability on the SR board members and Mario Corti. That could open a can of worms.

hankster

Wow Hank, it certainly could. Should be interesting to watch this unfold. I can't honestly say I'm not 'pleased' to see some of their misdeeds exposed. Thanks for adding that.

Barbara