A judge OKd Continental’s plan of reorganization.
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In Houston, U.S. Bankruptcy Judge T. Glover Roberts approved the plan that will allow the carrier to emerge from bankruptcy in 60 days. The plan calls for Houston-based Continental to pay $115.4 million to about 30 banks holding unsecured claims and pay $50.6 million in employee claims. Continental also will pay American Airlines $50,000. Other payments include $23.7 million to Swissair.
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