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The Bankruptcy Court considered the debtors’ application for Eagle Airlines to retain Bain & Company, Inc. The court ruled that it would enter an order both confirming that Bain’s engagement ends on February 29, 2012 and including the following reservation of right:
“ORDERED that notwithstanding anything to the contrary contained herein, the U.S. Trustee, the Committee and the Transport Workers Union of America, AFL-CIO (“TWU”) shall have the right to respond or object to the Final Fee Application on all grounds including, but not limited to, reasonableness pursuant to section 330 of the Bankruptcy Code; and, in the event the U.S. Trustee, the Committee, or the TWU objects, the Court retains the right to review the Final Application pursuant to section 330 of the Bankruptcy Code.
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The motion of the American Independent Cockpit Alliance, Inc for entry of an order directing the appointment of an official committee of former TWA pilots has been adjourned by the court from February 29 to March 6, 2012 at 2:00 p.m.
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The court approved the application of the debtors to retain and employ Weil, Gotchal & Manges LLP as attorneys for the debtors.
The court approved the debtors’ application to retain and employ Rothschild Inc. as financial advisor and investment banker for the debtors. The objection of the ad hoc committee of Passenger Service Agents was resolved in part through a statement made in open court expressing concern about the professional fee cost of these bankruptcy cases and the open objections of the Association of Professional Flight Attendants and the United States Trustee’s office were overruled.