usairways_vote_NO
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- Sep 9, 2002
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ON THE WIRE NOW
Court Oks Usairways
- Thread starter usairways_vote_NO
- Start date
USA320Pilot
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- May 18, 2003
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Are you surprised?
Regards,
USA320Pilot
Regards,
USA320Pilot
oldiebutgoody
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- Aug 23, 2002
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I read that the court only refused to make a ruling, since there is a complicated legal situation here concerning required payments. I think that this one will take the court a long while to sort out, and the government (PBGC) is fighting them. This one won't be a gimme!
BoeingBoy
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Here's the gist of the judge's order:
ORDERED:
1. The motion, to the extent it seeks authority to pay on account of pension obligations the amounts required by the Internal Revenue Code and the Employee Retirement Income Security Act attributable to the post-petition service of the debtors’ employees, is granted.
2. By this order, the court makes no ruling and expressly reserves decision as to whether the September 15, 2004 minimum funding contribution payment due for the defined benefit plans is a prepetition obligation or an administrative expense; whether the failure to make such payment violates ERISA or § 1113(f), Bankruptcy Code; and whether required unpaid contributions to the IAM National Pension Plan are held in trust by the debtors, are administrative expenses, or are prepetition obligations; whether the failure to make them violates § 1113(f), Bankruptcy Code; and whether the debtor in possession should be required to make all required pension plan payments becoming due post-petition until such time as the plan (if a defined benefit plan) is terminated or relief is granted as to the collective bargaining agreement under which a particular plan is maintained.
ORDERED:
1. The motion, to the extent it seeks authority to pay on account of pension obligations the amounts required by the Internal Revenue Code and the Employee Retirement Income Security Act attributable to the post-petition service of the debtors’ employees, is granted.
2. By this order, the court makes no ruling and expressly reserves decision as to whether the September 15, 2004 minimum funding contribution payment due for the defined benefit plans is a prepetition obligation or an administrative expense; whether the failure to make such payment violates ERISA or § 1113(f), Bankruptcy Code; and whether required unpaid contributions to the IAM National Pension Plan are held in trust by the debtors, are administrative expenses, or are prepetition obligations; whether the failure to make them violates § 1113(f), Bankruptcy Code; and whether the debtor in possession should be required to make all required pension plan payments becoming due post-petition until such time as the plan (if a defined benefit plan) is terminated or relief is granted as to the collective bargaining agreement under which a particular plan is maintained.
OP
usairways_vote_NO
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delldude said:
If you directing your hate at me I suggest you take it to Usaviation as my topic title was altered. Thank you very much.
I also posted the full news article in another thread. I received it over wire service where cut and paste does's not work and there isn't a URL.
Why are you people so angry anyway? Everyone has had plenty of time to prepare for this and should be happy it is almost over. Not so angry and mean. Just curious.
BoeingBoy
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usairways_vote_NO said:If you directing your hate at me I suggest you take it to Usaviation as my topic title was altered. Thank you very much.
I also posted the full news article in another thread. I received it over wire service where cut and paste does's not work and there isn't a URL.
[post="189195"][/post]
UVN,
You have my apologies for my post above. Responding to dell's post, I didn't even look at who started the thread, just assumed it was a certain poster who "occasionally" accuses others of misinformation and misleading.
I was wrong and I'm sorry.
Jim
OP
usairways_vote_NO
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delldude said:
A URL is a link as I said in previous post I got it off the wires before it was on the internet at the time I posted there was no "link" URL.
Also as I said in previous post my Title was somehow changed it originally said:
Court OKS Usairways
plan for pension payments
That was the lead line in the wire article the body follows which I posted in the thread "Any October 7 Court Updates?" THREAD
A federal judge said in a hearing Thursday that Usairways Group could make pension plan contributions due Oct 15 and Jan 15 2005.
Juge Mitchell also said during the hearing he wouldn't rule immediately on the airlines plan to seperate payments for its employees before and after it filed for Chapter 11.
Mitchell said legal issues related to pension obligations before and after the airlines Sept 12 Chap 11 filing were too complex to rule on immediately.
US Airways has two 14.5 million installment payments due in Oct and Jan on pension plans for its machinists and flight attendants.
BoeingBoy thank you
