On November 4, 2014 American will make another distribution of shares
from its Disputed Claims Reserve.
This is a comparatively small distribution and standing alone would result in
almost all members receiving no shares because they would be entitled to
only fractions of shares. However, TWU held on to the initial distribution
from the DCR precisely because of this eventuality. TWU intends to
combine the number of shares from the two DCR distributions to maximize
the number of members who would at least receive one share from the
DCR. It is anticipated that the distribution will occur in the second week of
November.
As a reminder, as disputed unsecured claims are resolved, additional equity
will be distributed to creditors (the Creditor Body), and there will be
additional distributions of shares to employees when distributions are made
to the Creditor Body. The final reconciliation of the disputed claims reserve
is likely to take several years to complete.
Representing American Airlines Maintenance Workers in Tulsa Oklahoma and Greater Southwest Texas.