Eastern’s Reorganized Plan Rejected: Easter Airlines’ unsecured...

Eastern’s Reorganized Plan Rejected: Easter Airlines’ unsecured creditors voted unanimously to reject the carrier’s latest reorganization proposal and seek the appointment of a special trustee to sell Eastern, sources said. The move reflects the creditors’ increasing exasperation in recent weeks over Eastern’s heavy operating losses and its proposals to reduce debt payments. The creditors’ committee authorized its attorneys to ask the U.S. Bankruptcy Court to appoint a special trustee to sell the airline, said the sources, who spoke on condition of anonymity.