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After posting eight consecutive losing quarters, US Airways Group, Inc., became the first major airline to file for Chapter 11 bankruptcy protection since the September 11 terrorist attacks. The Arlington, Virginia-based company’s filing listed roughly $7.8 billion in assets and $10.7 billion in liabilities, making it the largest bankruptcy case ever filed in the Eastern District of Virginia. The beleaguered airline suffered a blow at the end of July 2001 when federal antitrust regulators blocked its proposed merger with United Airlines. If it had gone through, the deal might have staved off bankruptcy for the company, which has been hit hard by the drop in tourism and by labor disputes. In July of this year, the Air Transportation Stabilization Board (which manages the government’s $10 billion loan guarantee program to help bail out the airlines) granted conditional approval of a $900 million loan guarantee to US Airways. But it wasn’t enough, and the carrier filed for bankruptcy protection in August. US Airways has secured $500 million in debtor-in-possession funding, which will help keep its planes aloft while it attempts to reorganize. For debtor US Airways Group, Inc. (Arlington, Virginia) In-house: General counsel Michelle Bryan, deputy general counsel Jennifer McGarey, and associate general counsel Howard Wu. Skadden, Arps, Slate, Meagher & Flom (New York): Bankruptcy: Jack Butler, Jr., John Lyons, Alesia Ranney-Marinelli, counsel Van Durrer II, and associates Chris Dickerson, Eric Kaup, Marc Lawrence, Timothy Olson, Susan Pong, Randall Reese, Glenn Walter, and Andr� Zafrani. Corporate: Peter Atkins, Eric Cochran, Richard Easton, and associates Patrick Belville, Laurie Cohen, John Jaye, and Darren Zeidel. Banking and lease financing: Charles Fox, Seth Jacobson, Ann Pollock, David Reamer, and associates Robert Gal, Thomas Greaves, Dmitri Kovalenko, Suling Lam, Gerard Martin, and Steven Miriani. Litigation: Edward Meehan and associates David Carney, Alexander Powell, and Andrew Wright. Tax: Clifford Gross and associates Richard Castanon and Laura Regan. Executive employment: Neil Leff. (Butler, Lyons, Ranney-Marinelli, Dickerson, Kaup, Lawrence, Olson, Reese, Zafrani, Belville, Jaye, Jacobson, Pollock, Gal, Greaves, Kovalenko, Lam, and Martin are located in the firm’s Chicago office; Durrer, Pong, Walter, and Reamer are in Los Angeles; Easton is in Wilmington; and Cohen, Meehan, Carney, Powell, Wright, Gross, Castanon, and Regan are in Washington, D.C.) Skadden won a beauty contest. US Airways is a longtime client of the firm. McGuireWoods (Richmond): Douglas Foley, Lawrence Rifken, and associates Sarah Boehm, John Maddock III, Erin McDonald, and Shannon McManus. (Rifken and McManus are located in the firm’s McLean, Virginia, office; Foley is in Norfolk, Virginia.) McGuireWoods is the company’s local cocounsel. O’Melveny & Myers (Los Angeles): Tom Jerman, Robert Siegel, of counsel Joel Burton, Robert Winter, and associates Rachel Shapiro and Heejung Heidi Son. (All but Siegel are located in Washington, D.C.) The firm has represented the company in antitrust, regulatory, labor, and litigation matters. For the Official Committee of Unsecured Creditors Otterbourg, Steindler, Houston & Rosen (New York): Jenette Barrow-Bosshart, Scott Hazan, Brett Miller, William Silverman, and associate Lorenzo Marinuzzi. For the arrangers of US Airways Group’s debtor-in-possession financing, Texas Pacific Group (Fort Worth) Cleary, Gottlieb, Steen & Hamilton (New York): Filip Moerman, Michael Ryan, and associates Jennifer Brown, Sang Jin Han, and Joanna Levine. Cleary has represented TPG’s founding members since 1988. Arnold & Porter (Washington, D.C.): Michael Bernstein, Brian Leitch, and associate Lawrence Katz. (Leitch and Katz are located in Denver.) The firm has represented TPG in the past. For lead DIP lender Credit Suisse First Boston (New York) Shearman & Sterling (New York): Constance Fratianni, William Hirschberg, Andrew Tenzer, William Wiegmann, counsel Susan Hobart, and associates Douglas Buffone, Joshua Dambacher, Justin Hewitt, Jonathan Linker, and Xueli Mao. Shearman has previously represented CSFB’s restructuring group. For DIP lender Bank of America Corporation (Charlotte, North Carolina) Moore & Van Allen (Charlotte): David Eades, David Walls and associate Stephen Gruendel. Bank of America is a longtime client. For the Air Transportation Stabilization Board (Washington, D.C.) In-house: Chief legal counsel James Levine. Curtis, Mallet-Prevost, Colt & Mosle (New York): Daniel Lenihan, Jeffrey Ostrager, Steven Reisman, and associates Evan Borenstein, Alexia Garamfalvi, Valarie Hing, and Christopher Matteson. The firm won a beauty contest. Outlook US Airways intends to submit its reorganization plan to the court by December, and expects to be out of bankruptcy by March. -Tatiana Boncompagni

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