OTHER NEWS - Nov. 23, 1993
From Times Staff and Wire Reports
Eastern Settlement Approved: A federal bankruptcy judge approved a settlement offer that would pay former mechanics of Eastern Airlines Inc. about 90 cents for every dollar they are owed from the airline’s collapse almost three years ago. Because some of the mechanics rejected the terms offered by the Eastern estate, the total payout to the union members was reduced to $13.4 million from a potential $14.8 million. Eastern filed for bankruptcy protection in March, 1989, and shut down in January, 1991.
