the big question that needs to be answered

[swamt]

GOOD GOD!  HAVE YOU GUYS HAD ENOUGH YET???

 

[MetalMover]

https://www.youtube.com/watch?v=qdFLPn30dvQ

 

[scorpion 2]

 
The TWU is being sued because the equity committee decided how the distribution should occur amongst the membership. The company was only required to provide the stock per the BK settlement.

Has anyone seen the details on this settlement?

 

[AANOTOK]

Has anyone seen the details on this settlement?

I haven't heard anything about a "settlement".
The TWU better not have caved,

 

[scorpion 2]

I haven't heard anything about a "settlement".
The TWU better not have caved,

The settlement details im asking about are the ones that describe what claims were satisfied between the twu and the company in order to justify a 4.8% equity stake.  Was it a blanket statement that settled all claims or are there some details that itemize what was settled?  

 

[FWAAA]

Has anyone seen the details on this settlement?

Overspeed used the word "settlement" when it would have been more precise to use the term "plan of reorganization" or POR.    
 

I haven't heard anything about a "settlement".
The TWU better not have caved,

Nope, just overspeed not using precise language.   
 

The settlement details im asking about are the ones that describe what claims were satisfied between the twu and the company in order to justify a 4.8% equity stake.  Was it a blanket statement that settled all claims or are there some details that itemize what was settled?  

Here is the language from the POR:
 

1.229 TWU American Claim means the right to receive 4.8% of the Creditor New Common Stock Allocation granted to the TWU on behalf of the transport workers represented by the TWU pursuant to the order of the Bankruptcy Court entered on September 12, 2012 (ECF No. 4413), in satisfaction and full extinguishment of any and all claims, interests, causes, or demands that the TWU has or might arguably have, on behalf of itself and the transport workers represented by the TWU, as provided by such order; provided, however, that the TWU American Claim shall not include Claims asserted in any proofs of Claim filed in the Chapter 11 Cases by or on behalf of TWU-represented employees, which Claims, if Allowed, shall be classified and treated hereunder in accordance with any such allowance. For purposes of voting hereunder, the entire TWU American Claim shall be voted by the TWU on behalf of the transport workers represented by the TWU.

This is from pages 129-130 (.pdf page counter) from document 10367 of the AA bankruptcy docket.
 
Basically, the 4.8% was to satisfy all TWU claims but it did not include individual claims of TWU members (if the individuals filed proofs of claim for debts AA owed them).    

 

[scorpion 2]

Overspeed used the word "settlement" when it would have been more precise to use the term "plan of reorganization" or POR.    
 
Nope, just overspeed not using precise language.   
 
Here is the language from the POR:
 
 
This is from pages 129-130 (.pdf page counter) from document 10367 of the AA bankruptcy docket.
 
Basically, the 4.8% was to satisfy all TWU claims but it did not include individual claims of TWU members (if the individuals filed proofs of claim for debts AA owed them).    

I see. The way overspeed made it sound there was a specific settlement with detailed analysis on how they came up with the percentage.  So what happened is they said 4.8% sounds good to us and the other party said thats good for us to, now lets just call it even steven and shake.  Next.

 

[scorpion 2]

Is 1.229 precise?   Or intentionally left vague? 

 

[scorpion 2]

you don't know?     overspeed silent.......WTF
 
I did ask and the international was asked that question and no response
 
 BTW, I am not the only by far who has asked the same question and no one has the answer,  just one simple question and no answer

Have you got an answer yet?