Lone Star Air Partners, LLC v. Delta Air Lines, Inc.

OPINION AND ORDER

SHIRA A. SCHEINDLIN, District Judge.

I. INTRODUCTION

This bankruptcy appeal arises out of a claim objection stemming from leveraged lease transactions involving aircraft. Lone Star Air Partners LLC (“Lone Star”) has filed claims pursuant to tax indemnification agreements (the “TIAs”) entered into with debtor Delta Air Lines, Inc. (“Delta”) to recover for adverse tax consequences resulting from a sale of Lone Star’s interests in the trust estates that own the aircraft. Delta objects to the claims on the ground that the TIAs excuse Delta from indemnification and seeks affirmation…