P.M. BRIEFING : Hearing on Eastern Sale Delayed
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NEW YORK — A federal bankruptcy judge today postponed for the second time a hearing over whether strike-bound Eastern Airlines should be put up for sale in its entirety.
U.S. Bankruptcy Judge Burton R. Lifland rescheduled today’s hearing for May 3 to give potential buyers more time to examine Eastern’s financial data and to give parties involved in the airline’s bankruptcy case more time to negotiate over a possible reorganization plan.
The judge has asked Eastern, its unions and major creditors to demonstrate why the airline should not be put up for auction in its entirety, including its Northeast shuttle service slated to be sold to developer Donald Trump.
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