TWAnr
Veteran
- Aug 19, 2002
- 1,003
- 0
----------------
On 4/11/2003 4:18:46 PM WXGuesser wrote:
mAArky:
It''s in the TWU T/A. This link to the TWU-ATD page:
----------------
Here is the legalese:On 4/11/2003 4:18:46 PM WXGuesser wrote:
mAArky:
It''s in the TWU T/A. This link to the TWU-ATD page:
----------------
2. The Company agrees that if a petition for bankruptcy is filed with respect to either American Airlines or AMR Corporation, that neither the Company nor any affiliate will file or support any motion pursuant to 11 U.S.C. Sections 1113 seeking rejection or modifications of, or relief or interim relief from, the AMR Restructuring Participation Agreement (a “Motionâ€) unless the Company’s financial condition materially deteriorates, subsequent to the date of this agreement, from the financial condition projected in the Company’s business plan provided to the TWU and to the other unions on February 19, 2003, during the negotiations of the AMR Restructuring Participation Agreement, whether because of general economic conditions or otherwise. The Company and its affiliates further agree to actively oppose any such Motion if filed by another party subject to same conditions as outlined above in this paragraph. (emphasis added)
Just how much do you want to bet that the company will argue that the effects of the war in Iraq and SARS caused its financial condition to deteriorate? On second thought, just the need to seek chapter 11 protection will serve as a basis to make such an argument.