Retirees filed to be reheard

[AANOTOK]

This

I thought the union cashed out the shares and put the funds in a trust fund awaiting the outcome. I asked a union rep at a meeting several months back and this was his response. Anyone else here something similar?

http://www.airlineforums.com/threads/notice-of-hearing.60734/

 

[Koolcat]

This

http://www.airlineforums.com/threads/notice-of-hearing.60734/

Everything that is going on can be confusing to many but the 14% being held in a court ordered trust and handled by a third party financial manager was cashed out due to market fluctuations. The disputed claims fund is a different beast, this fund holds millions of share stock for the sole purpose of paying off claims against the old AMR.

 

[AANOTOK]

Agree cat, in a lazy way, I was just answering 1AA's question about shares that are NOT cashed out and should be headed our way based on a lawsuit by labor and a few banks and along with AA wanting to distribute these extra claims sooner rather than later and getting Judge Lanes approval to do so. I just provided the link (again, being lazy). But I agree with everything you say.

 

[AANOTOK]

Hopefully, the TWU is crunching numbers and preparing distribution (as much as possible) of our equity checks once the suit is closed which is between now and Oct.3rd (one would assume).

 

[AANOTOK]

Still no word on their intentions, eh?

 

[Matt1200]

Hopefully, the TWU is crunching numbers and preparing distribution (as much as possible) of our equity checks once the suit is closed which is between now and Oct.3rd (one would assume).

I could not believe that your union held back your money. I would have filed a law suit!

 

[WeAAsles]

I could not believe that your union held back your money. I would have filed a law suit!

A Lawsuit has been what's kept us waiting in the first place. A Judge ORDERED the Union to hold the money.

 

[gulfcoast1]

Are the plaintiffs not required to let the 9th Circuit know if they do plan to appeal to SCOTUS? I would think they would be since the Court required the defendants to hold some shares or funds in reserve. I guess we will know a week from Tuesday, but if the Court will have to issue an order to release the held funds, I think there should be some sort of yes or no filing. I am not sure though.

 

[gulfcoast1]

One more week left I hope.

 

[bob@las-AA]

Well, today is the day, bet they don't file.

 

[WeAAsles]

Well, today is the day, bet they don't file.

I'd be surprised to read anything from ATD Director Mike Mays until next week on the issue since he's in Negotiations with AA for us this week. But who knows?

 

[AANOTOK]

At his pay, I'm sure multitasking is (or at least should be) part of his job functions.
But then again when you are negotiation 9:00 am to noon, not sure where you would find time
in the day.

 

[WeAAsles]

At his pay, I'm sure multitasking is (or at least should be) part of his job functions.
But then again when you are negotiation 9:00 am to noon, not sure where you would find time
in the day.

I knew someone would gripe on my comment. I'm just giving you my opinion man. I'm sure Brother Mays knows full well by now how many members are out there who will trip all over themselves to grab a dollar they see flopping around in the wind.

Scrapped knees and all to grab it.

 

[B737 driver]

At his pay, I'm sure multitasking is (or at least should be) part of his job functions.
But then again when you are negotiation 9:00 am to noon, not sure where you would find time
in the day.

How is the money shielded, and what will the guys get, by the time the case is settled and the attorneys are paid ?

 

[ATD]

I knew someone would gripe on my comment. I'm just giving you my opinion man. I'm sure Brother Mays knows full well by now how many members are out there who will trip all over themselves to grab a dollar they see flopping around in the wind.

Scrapped knees and all to grab it.

Someone told me brother Mays used to show up in sandals and shorts when he was in negotiations back before bankruptcy. Strictly 9 to noon guy..