Piedmont1984
Veteran
- Jan 12, 2004
- 1,737
- 897
Let me respectfully refresh your memory.
LOA 84 is a POST-bankruptcy side letter. It preceded the second bankruptcy, but it was signed in December, 2002, which was 3 months after the Chapter 11 filing.
The big pay hit was the Restructuring Agreement, which preceded bankruptcy one by about two months. I believe the company told us that if we signed on to it, we could avoid bankruptcy. Nothing has changed. They still lie through their teeth with every word theyuttersay.
Thanks for the correction.