UAL v. U.S. Bank, N.A. (U.S. District Court for the Northern District of Illinois)

Eimer Stahl was retained to represent a bank in an adversary proceeding brought by United Airlines, Inc. alleging that several banks violated Section 1 of the Sherman Act by collectively negotiating against United to restructure existing aircraft lease and financing arrangements and by taking steps to repossess the leased aircraft.  The bankruptcy court accepted United’s antitrust arguments and entered an order enjoining the banks from repossessing the aircraft.  When the district court refused to review or overturn that order, the banks sought relief from the Seventh Circuit, which reversed the lower court with instructions to vacate the preliminary injunction and allow immediate repossession of the leased aircraft.