December 20, 2012 - Today in bankruptcy court,
AMR filed a motion to sell its infamous London
townhouse. The sale price is over $23 million.
As so many of us will recall, this property
continued to receive a great deal of attention
from the onset of AA's bankruptcy last November,
and some questions about it remain unanswered to
this day. In particular, we cannot help but
wonder why the Company waited so long to sell
the luxury home.
The townhouse has five bedrooms and is
approximately 5,242-square feet located in
Cottesmore Gardens, a ritzy London neighborhood.
The townhome had been the target of critics,
stating the property was an example of
American’s free spending ways.
Thursday’s motion indicates that with each
additional month the Company owns the property
“the Debtors could be subject to unnecessary
maintenance costs and other fees…” Of course,
that did not prevent the Company from holding
the property until July (conveniently following
the Wimbledon Championships), when it was
finally put on the market.