American Airlines' fate in Goldman Sachs' hands?

[marmar]

(Bloomberg) Goldman Sachs Group Inc. (GS) may emerge as a pivotal participant in deciding the fate of AMR Corp. (AAMRQ)’s American Airlines in bankruptcy.

The firm, an AMR bondholder, is among creditors being lobbied by US Airways Group Inc. (LCC) to back a possible takeover bid, said people with knowledge of the matter. Goldman Sachs has encouraged other debt investors to meet with US Airways to see if a merger would recoup more than AMR’s stand-alone plan, said one person, who asked for anonymity because details are private.

Goldman Sachs is seen as an important stakeholder in the case because of the size of the New York-based firm’s holdings in AMR and its influence with other debt investors, the people said.

US Airways is also seeking the backing of creditors including Appaloosa Management LP, Oppenheimer Holdings Inc. (OPY) and Claren Road Asset Management LLC, the people said. Some investors have been trying to form ad-hoc committees and are discussing hiring advisers to negotiate with AMR and US Airways, the people said. Oppenheimer is one of the largest holders of AMR municipal debt, one person said. ..................(more)

The complete piece is at: http://www.bloomberg.com/news/2012-05-03/goldman-sachs-may-play-pivotal-role-in-american-s-fate.html