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Creditors Sue Lorenzo: Continental Airlines’ creditors filed a $290-million lawsuit against former Chairman Frank Lorenzo and others, an attorney for the plaintiffs said. The lawsuit was filed late Friday afternoon in U.S. Bankruptcy Court in Delaware, the court overseeing Continental’s reorganization, attorney Ben Murphy of the New York law firm Latham & Watkins said. The bankruptcy court Wednesday gave the carrier’s unsecured creditors permission to sue Lorenzo and business partner Robert Snedeker, a former Continental executive. Both have denied any wrongdoing and said the lawsuit is without merit.
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