MEMORANDUM Once the market closes today, American will begin the process of making the day 120 distribution. As you know, since the number of shares allocated to TWU is a percentage (4.8%) of the shares allocated to all unsecured creditors, and since the number of shares allocated to the unsecured creditors decrease as the stock…
Tag: Distribution
Legacy American Employees to Receive Day 120 Equity Distribution
We’ve shared before that the majority of U.S.-based legacy American employees are eligible to receive 23.6 percent of the shares of common stock in the new company (AAL) distributed to holders of allowed unsecured claims. As of March 9, American has distributed approximately 27.5 million AAL shares to eligible U.S.-based legacy American employees. With respect…
Letter to Don Videtich on 757 Distribution list, August 9, 2013
Don Videtich, Deputy Director Air Transport Division Transport Workers Union of America 1791 Hurstview Drive Hurst, TX 76054 Re: 757 Distribution List Dear Brother Videtich: Attached is the list of Tulsa members for the 757 portion of the equity according to the Horowitz decision rendered August 5, 2013. As you know, we were on a…
More on the TWU Equity Distribution – July 8, 2013
The formula for distribution of stock to American’s unsecured creditors, including all labor groups, is complex and a number of members have asked for further clarification. The TWU has negotiated for our members to receive actual stock with considerable value. This stock will be distributed directly to our members as soon as American exits bankruptcy…
Equity Distribution Update, July 3, 2013
Dear Brothers & Sisters: The TWU Equity Distribution Committee met on July 2, 2013 at the ATD office in Hurst, Texas to review the draft Power Point presentation (attached) as presented by your TWU Equity Distribution Committee, legal counsel and professional advisors. We discussed, in detail, the many comments and suggestions received from the TWU…