Category: Bankruptcy

AA Equity Q&A, December 4, 2015

How much equity did TWU hold back? TWU held back 14% of the equity. Why did TWU hold back 14% of equity? It was estimated that this would permit TWU to satisfy any judgment obtained by plaintiffs, while also covering legal and administrative expenses incurred. Where is the reserve fund being currently held? TWU has…

UPDATE: 1099-B sent in the Mail…

After a short conversation with the Computershare people. I have found out that the 1099-B that was sent in the mail is for the shares that were sold to cover the Taxes of the award. Due to the fact that the shares were sold, Computershare is required by law to send the 1099-B. If you have…

Equity and Taxes

   Anyone that sold equity shares of stock last year will need to include the 1099B when filing their 2014 income tax. These forms do not have to be mailed out until Feb, 16. They also will be available online at your 401K web site (retireonline.com), under AAL Common stock, then Correspondence. These are produced…

Update Regarding the AA Equity Distribution Plan Lawsuits

In September, the Court dismissed the Demetris complaint because it failed to allege sufficient facts to state a claim for breach of the duty of fair representation. But the court granted the plaintiffs one more chance to amend their complaint to try to plead allegations sufficient to state such a claim. The plaintiffs then filed…

January 23, 2015 – Disputed Claims Reserve update

Dear Brothers and Sisters: American plans to make another distribution of shares to unsecured creditors from its Disputed Claims Reserve (DCR). The DCR holds shares set aside for resolution of certain claims in the bankruptcy proceedings. When American prevails or settles such claims, shares initially held aside for those claims can be distributed. Once again…