OTHER NEWS - Nov. 24, 1994
From Times Staff and Wire Reports
Continental Air Says It Doesn’t Face Another Bankruptcy: Continental Airlines Inc. said it does not face bankruptcy even though a $117-million claim by NationsBank Corp. against the carrier could send it into Chapter 11 for a third time. Continental said, according to a judge in the case, NationsBank’s claim could force the airline into bankruptcy. But it said the judge has appeared unwilling to grant the bank’s claim. Federal Judge Joseph Farnan of Delaware decided on Sept. 16 not to reconsider the claim by NationsBank, and Continental has asked the judge to deny the bank’s appeal. The case was closed Oct. 19 when NationsBank failed to meet a deadline for filing its appeal.
