HEDGE FUNDS THAT claim to be the largest organized group of unsecured creditors of Delta Air Lines Inc. will be watching closely in the coming weeks to ensure that the airline lives up to commitments it has made to the official creditors committee-in particular measures that would ensure the airline remains open to a merger.
The hedge funds, which hold $2.75 billion of unsecured claims against Delta, have formed a coalition called the Unofficial Committee. It claims support from other bond holders who are not part of the group and is represented by the New York law firm Paul, Weiss, Rifkind, Wharton & Garrison.
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