(Updates with excerpt of court filing in third paragraph.)
Jan. 6 (Bloomberg) -- Cantor Fitzgerald & Co. asked a U.S. bankruptcy judge to let litigation proceed against American Airlines over the Sept. 11 terrorist attacks, which killed 658 of the securities firm’s employees.
Cantor Fitzgerald, which sued American and parent company AMR Corp. in 2004, asked U.S. Bankruptcy Judge Sean Lane in Manhattan to lift the stay that shields AMR from litigation while the airline is in bankruptcy, according to a court filing today.
“The impact of the automatic stay causes significant harm to Cantor Fitzgerald because it further delays Cantor Fitzgerald’s ability to recover a portion of the damages it suffered,” the New York-based company said in the filing.
The litigation is being defended by American Airlines’ insurers and can proceed “without any material interference” with the bankruptcy case, Cantor Fitzgerald said.
A spokesman for Fort Worth, Texas-based American Airlines, which filed for bankruptcy on Nov. 29, didn’t immediately return a phone call seeking comment.
The bankruptcy case is AMR Corp., 11-15463, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
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