Overspeed
Veteran
- Jun 27, 2011
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Well call me crazy but I will follow the legal precedent and what the attorneys say. as I said the most likely outcome is that they will impose the last best offer I did not say beyond a shadow of a doubt but the NWA Vs AFA case certainly gives you a legal bases to stand on and is the most likely outcome.
That article is old and has not been updated. It was written in 2007, after the Northwest decision being discussed but before the Frontier decision in 2009. In Frontier the district court, on an appeal from a bankruptcy court ruling, held that: ”under the regime established by section 1113, proposals and supporting disclosures made by a party after the rejection hearing has begun may not form the basis for concluding whether the section 1113 standard has been satisfied, except, perhaps, where the parties expressly agree that they may be considered." In American's bankruptcy case, Judge Lane said in open court that he intends to follow Frontier and will not consider the later proposals.
Like I said, vote no and test your theories but Judge Lane has already stated that your legal assessment is not going to be followed. Rejection will mean implementation of the March 22, 2012 Term Sheet.