Company Match of Prefunding Refund

[AANOTOK]

 
Judge Lane will give his decision on or after Wednesday or maybe into early next week. If they eliminate the Retiree Medical before the final Equity Distribution it can negatively effect the amount of shares the creditors end up getting.

Why would Judge Lane care one way or another?

 

[NYer]

Why would Judge Lane care one way or another?

 
Because it is part of his Bankruptcy Case and the distribution of the Equity is an important part of that.

 

[MetalMover]

 
Equity is given to those that take a loss within the bankruptcy process and it is meant as a recovery in any losses. If they take away a contractual item from the retiree's, such as their benefits, they have the right to lay a claim just like the rest of the creditors. Since the Equity has already been divided up, it would mean any additional claims to be paid would have the come the the current creditors' share.
 
Don't you see how there has been nothing said since January 23rd, 2012 (the last hearing on the retiree medical issue) and now that we're close to end of the Equity Distribution Judge Lane has suddenly indicated he will give his decision on what the Company can do with the Retiree Medical close to the final distribution date.

So, should your scenario play out, the equity that would be claimed by the retirees will be settled  on the same day the judge rules? So as soon as he rules, a phone call is made to Compushare to change the amount of shares in everyone's account?
Sorry, I don't buy into this logic.

 

[NYer]

So, should your scenario play out, the equity that would be claimed by the retirees will be settled  on the same day the judge rules? So as soon as he rules, a phone call is made to Compushare to change the amount of shares in everyone's account?
Sorry, I don't buy into this logic.

I believe you're confusing the retiree's who will lose their retiree medical when Judge Lane presumedly allows the airline to eliminate their coverage and the Early Out's who are suing for Equity.

the Retiree Medical is about the Match and the Early Out is about the Equity. Two wholly separate things.

If not, then it don't understand your concern.

 

[MetalMover]

 
Equity is given to those that take a loss within the bankruptcy process and it is meant as a recovery in any losses. If they take away a contractual item from the retiree's, such as their benefits, they have the right to lay a claim just like the rest of the creditors. Since the Equity has already been divided up, it would mean any additional claims to be paid would have the come the the current creditors' share.
 
Don't you see how there has been nothing said since January 23rd, 2012 (the last hearing on the retiree medical issue) and now that we're close to end of the Equity Distribution Judge Lane has suddenly indicated he will give his decision on what the Company can do with the Retiree Medical close to the final distribution date.

From where I sit, the retiree medical was voted away CONTRACTUALLY when the contract was signed. They gambled when they took the early out not knowing whether or not the plan would end. They placed their bets, now let's see what the results are.

 

[MetalMover]

I believe you're confusing the retiree's who will lose their retiree medical when Judge Lane presumedly allows the airline to eliminate their coverage and the Early Out's who are suing for Equity.

the Retiree Medical is about the Match and the Early Out is about the Equity. Two wholly separate things.

If not, then it don't understand your concern.

Not really....He is to rule on whether the company has a right to terminate the plan or whether the retirees are vested. If it is terminated, then we should receive our match.
I do not believe he is ruling on the equity.
 
Now, if he rules to terminate the plan, how can it negatively affect the final distribution the same day? That is my concern. 
I could see if he ruled in favor of the retirees' equity, but I do not believe the medical will affect it.

 

[MetalMover]

 
Judge Lane will give his decision on or after Wednesday or maybe into early next week. If they eliminate the Retiree Medical before the final Equity Distribution it can negatively effect the amount of shares the creditors end up getting.

Here is where you said that eliminating the Retiree Medical before the final distribution will affect the amount of shares. 
The medical will not affect the shares, especially if this is all decided on the same day.

 

[DallasConehead]

What a freakin mess...

 

[NYer]

From where I sit, the retiree medical was voted away CONTRACTUALLY when the contract was signed. They gambled when they took the early out not knowing whether or not the plan would end. They placed their bets, now let's see what the results are.

From where I sit, the retiree medical was voted away CONTRACTUALLY when the contract was signed. They gambled when they took the early out not knowing whether or not the plan would end. They placed their bets, now let's see what the results are.

This isn't about the Early Out, it's about all the Retiree that left prior to the Early Out and even the bankruptcy. They didn't lose their coverage under the CBA.

 

[NYer]

Not really....He is to rule on whether the company has a right to terminate the plan or whether the retirees are vested. If it is terminated, then we should receive our match.
I do not believe he is ruling on the equity.
 
Now, if he rules to terminate the plan, how can it negatively affect the final distribution the same day? That is my concern. 
I could see if he ruled in favor of the retirees' equity, but I do not believe the medical will affect it.

He won't rule until after the final distribution. That eliminates the possibility of the Retiree from becoming a Creditor and making a claim for Equity. If it has been distributed, there is nothing to make a claim against.

 

[NYer]

Here is where you said that eliminating the Retiree Medical before the final distribution will affect the amount of shares. 
The medical will not affect the shares, especially if this is all decided on the same day.

Of course it could. If the Retiree get a ruling that their benefit will be eliminated they can file an injunction to stop the distribution in order to make a claim for Equity. That is the same thing the Early Out threatened to do and that is why the 14% was held aside.

Don't be surprised if the ruling from Judge Lane is released by Thursday or Friday, after the final distribution.

 

[AANOTOK]

Alrighty then. Now that the Equity fiasco is winding down, the next possible bend over moment...

 

[screwed again]

Possible bend over moment? Count on it!

 

[MetalMover]

Possible bend over moment? Count on it!

Bend Over? DO we really need to have to still "bend over" after all we've been through?

 

[Chuck Schalk]

  Let me get my crystal ball out.....................................
 
the judge waited so long as to wait for the equity stake is settled because it is tied in.
 
the ruling will state that the retirees are not entitled to the company paying for their retiree medical
 
the deal is cut that the retirees will get the company portion of the retiree medical thus, not terminating the plan
 
the active employees get the shares back
 
everybody wins in their  eyes
 
If this scenario plays out the only loser are the active employees company match will be gone
 
 
thanks for playing