UAL Secures Order to Limit Stakeholders

UAL Corp., the parent of United Airlines, said it secured a Bankruptcy Court order to prevent holders of large stakes in the airline from selling or transferring their holdings.

The company said the order applies to entities that hold $65 million or more in claims against UAL or 2.5 million shares or more of the company’s stock.

UAL said the court order, in effect until a Dec. 30 hearing to reconsider its appropriateness, would help preserve its current operating losses, a major asset in terms of tax benefits.