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Argued: September 21, 2009

Before: LEVAL, RAGGI, and LIVINGSTON, Circuit Judges.

Northwestern Mutual Life Insurance Company, Inc. (“Northwestern”), DFO Partnership (“DFO”), and AT&T Credit Holdings (“AT&T”) (collectively, the “Appellants” or “Claimants”), who are claimants in the bankruptcy proceedings of Delta Air Lines, Inc. (“Delta”), appeal from a ruling of the United States District Court for the Southern District of New York (Berman, J.) affirming final orders of the United States Bankruptcy Court for the Southern District of New York (Hardin, J.) (the “Bankruptcy Court Orders”). The bankruptcy court upheld Delta’s objections to Appellants’ claims for approximately $1 billion under tax indemnity agreements. For the reasons discussed herein, the judgment is VACATED, and the cases are REMANDED with instructions to reject Delta’s objections.

 
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