On June 20, AMR mailed copies of their Plan of Reorganization (POR) to all creditors, members of the Unsecured Creditors Committee, and all individual owners of AMR stock. The purpose of the mailing is to provide recipients the opportunity to review the POR and vote on it. Those of us that held AMR Stock Options,…
Tag: Reorganization
AA Bankruptcy Update, April 16, 2013
On the evening of April 15, 2013, American Airlines, Inc. and its affiliates (“AMR”) filed their proposed plan of reorganization (the “Plan”) and related disclosure statement (“Disclosure Statement”) with the Bankruptcy Court along with a motion (the “Motion”) requesting the Bankruptcy Court to establish various deadlines and hearing dates leading up to approval and confirmation…
Line Local Reorganization
Dear Brothers & Sisters: Since the filing of the AMR Bankruptcy, there has been a growing concern as to the ability of Locals to continue to properly represent their members. With the removal of the “Baker Letter” from within the M/E contracts, this has become a reality. The Baker letter was negotiated in 1993 (attached) to cover Local officers’…