Why no 1114 decision, months after hearing?

[Kellerguy]

My WAG is the same as I posted earlier in #101 above. Perhaps the judge is hoping the parties reach a compromise.

The Maxon blog pieces on the issue make it sound like the merger documents might be part of the cause for delay:

http://aviationblog....ound-info.html/

http://aviationblog....e-no-news.html/

The best place to get real info or news would be the lawyers for the retirees - those retirees should be getting some updates from their lawyers.

Those lawyers are only responsive to the committee members directly, and that is a black hole of information.

 

[TWU informer]

I think it has been decided. And that decision is that this issue will be addressed but not part of the BK proceedings, or in the POR.

 

[AA Tulsa Mechanic]

Called the hall today and was told the judge has pushed the prefunding off the table and will be settled in another court. AA can emerge from bankruptcy without this issue being settled.

 

[TWU informer]

Called the hall today and was told the judge has pushed the prefunding off the table and will be settled in another court. AA can emerge from bankruptcy without this issue being settled.

Yep, if they cancelled the insurance in BK, there would have been another group entitled to equity. Doing it out of BK, no equity in return.

 

[Barfbag]

Can they stay in BK another four years ? I sure hope so....

 

[AANOTOK]

The updates and info is too much to decipher....

 

[Overspeed]

I have been told that the judge is sitting on the 1114 decision for now. May hear something after the DoJ case outcome which from what I have read will probably be decided after the New Year. That is unless the DoJ backs out or maybe more Gov Shutdown fall out.

 

[Overspeed]

The courts have consistently backed corporations as far as eliminating retiree Medical benefits. Ellen Shultz had a good book called "Retirement Heist" a while back with several examples. What complicates things at AA is Prefunding and the "Trust Agreement" which was not widely available and even many local Presidents never saw or read it. We bought those benefits. That's what makes our situation different for us than most other people who never laid out a penny for them. But even if you read the Trust Agreement the company can still back out of the agreement. What's disputed is what happens to the funds still in the trust. The company is obviously trying to find a way to use money that's rightfully ours to pay their obligations. Its over $100 million just from the TWU and we wouldn't even get credit for it.

Bottom line, zero cost Retiree Medical is going away, they may offer you a plan but you will be paying 100% of the costs. In one example Ellen Shultz cited a retiree had to pay the company more for the medical than she collected from her pension.

That is an excellent book. My bet is that the trust gets dissolved and everyone gets their share back including the retirees if they still have any funds. AA wants out of the retiree medical business.

 

[AANOTOK]

I have been told that the judge is sitting on the 1114 decision for now. May hear something after the DoJ case outcome which from what I have read will probably be decided after the New Year. That is unless the DoJ backs out or maybe more Gov Shutdown fall out.

That would be their perfect out of a case they are gonna lose anyway.
I will assume while the retiree's are still having their medical paid for (as they should),
my monies is still collecting interest.

 

[Thomas Paine]

I have been told that the judge is sitting on the 1114 decision for now. May hear something after the DoJ case outcome which from what I have read will probably be decided after the New Year. That is unless the DoJ backs out or maybe more Gov Shutdown fall out.

Told by whom?

 

[Rogallo]

Told by whom?

Yes, we'd like to know.

 

[Overspeed]

Yes, we'd like to know.

U have a mouse in your pocket?

 

[MCI transplant]

U have a mouse in your pocket?

No! He was refuring to all of us! Or has all this been just one of your "guesstamites"?

 

[Overspeed]

No! He was refuring to all of us! Or has all this been just one of your "guesstamites"?

Listen, I read a lot and ask questions. Call the local, call the ATD, and educate yourself. There have been many updates from the TWU that state there has been no ruling and that the company has filed to discharge themselves from the retiree medical plan. Read up on what happened at other airline BKs and it is not uncommon for the company discharge their retiree medical obligations in the BK proceedings.

 

[swamt]

Listen, I read a lot and ask questions. Call the local, call the ATD, and educate yourself. There have been many updates from the TWU that state there has been no ruling and that the company has filed to discharge themselves from the retiree medical plan. Read up on what happened at other airline BKs and it is not uncommon for the company discharge their retiree medical obligations in the BK proceedings.

I see you are still avoiding the questions asked of you. Deflect, deflect, deflect as usual.