Icahn Crashes In Bid For TWA

One of the bidders in the TWA sweepstakes has been dealt a severe blow. Carl Icahn’s offer to buy the bankrupt St. Louis-based airline has been called “a joke” by a U.S. Bankruptcy Court judge who said he would not allow Icahn’s attorney to call any witnesses. The judge says Icahn did not meet bid guidelines. There are five bids to buy the airline. The offer put forward by American Airlines is the one favored by Trans World airlines.