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Amex withholds $65 million from Northwest
Monday, 30 Sep, 2005
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As the result of American Express withholding from bankrupt Northwest Airlines $63 million from ticket purchases make on American Express credit cards, Northwest has filed a motion with the U.S. Bankruptcy Court to release the funds.
Meanwhile Northwest and American Express are negotiating to set a deposit amount, which Amex would withhold from Northwest Amex credit card sales, to provide it some level of protection from Northwest’s financial problems.
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