All, Linked is the decision from the Feb. 2017 arbitration hearing. I was on a conference call today to discuss it. The prefunding case is being looked at to determine if there is a path to fight it going forward. The union’s position is it’s your money. Equity- No word on any movement on the…
The general rule for eligibility to participate in the distribution is: an employee was in the TWU represented craft/class and active employee on payroll, approved leaves of absence on both the date of American’s filing its petition for bankruptcy (November 29, 2011) and the closing date for eligibility (July 26, 2013). Does not exclude RIF…
All, I was on a conference call today to discuss the equity payout. Please read the attached letter from ATD Director Mike Mayes. There is no timeline for the payout until the tax issue and who will distribute the funds is resolved. Dale January 6, 2018 Brothers and Sisters: As we enter a new calendar…
Dear Brothers and Sisters: I write you with a quick update on the Equity Distribution Plan. Several members raised questions in response to my letter that was sent last week. As a result, I have asked our lawyers to prepare a “question and answer” sheet . This will be sent out in the near future.…
Brothers and Sisters: The newly elected leadership of TWU is pleased to announce that the four-year-long litigation regarding the legal validity of the Equity Distribution Plan adopted by TWU in 2013 has at last come to an end, because plaintiffs have not filed timely papers in the Supreme Court that would have been required to ask it…
Brothers and Sisters: Last month, we informed you that the distribution process for American Airlines equity shares would begin soon. Recently, American made a distribution to unsecured creditors from its Disputed Claims Reserve (DCR), which holds shares set aside for resolution of certain claims in the bankruptcy proceedings. The number of shares recently distributed for…
Dear American Airlines Members: Last month, in an update in the American Airlines equity distribution case, we informed you that the United States Court of Appeals for the Ninth Circuit had issued a decision and opinion affirming the decision of the District Court for the Northern District of California in the case of Demetrius v.…
This just in: Summary The panel affirmed the district court’s dismissal of two consolidated actions brought under the Railway Labor Act, alleging a union’s breach of the duty of fair representation in the decision to distribute the proceeds of a bankruptcy settlement to all of its members unevenly. American Airlines, Inc. and American Eagle Airlines,…
TO: AA Locals 501 – 591 RE: Equity Update Dear Sisters and Brothers: As reported in my letter dated March 6, 2017, the breakdown of the equity funds is as follows: AA Reserve Balances as of March 1, 2017: On Deposit with IRS: $ 6,104,241.28 Invested …
Dear Sisters and Brothers: There will be a meeting held at the end of this month regarding the status of the equity stake investments. We will receive a breakdown of the investments at that time. Also, we have not received any additional information as of yet regarding the hearing on December 13th on the Demetris/Ledbettter…