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Delta Air Lines, Inc. Message Board

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  • bobof1y777 bobof1y777 Sep 16, 2004 9:52 PM Flag

    bondholders xplore forcing delta to bk

    it is will known and public information that delta is close to bk (auditer report, ceo acknowledgment etc. it is also known that you cann't transfer assets b4 u file bk. also i'm not an attorney but from my research 3 bondholders could force a company to bk u don't need 25% if the company is in default. S&P declared a rating of selective default coupled with intention to defraud this present a good case in my opinion. I'll be consulting a bk attorney b4 any filing of course but if u r a bk attorney and w no interest in this case I'll trust ur opinion

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    • if you're actually trying to imply there is a fradulent conveyance case here you're out of your mind. The asset hast o be transferred away from what will be the future BK estate to folks not part to the BK estate to even begin to make this case.

      Take a digi recorder in with you at that appt. with the BK lawyer and post a .wav file of the first thrity seconds of your meeting with him where he is laughing his rear off at you.

    • <<if u r a bk attorney and w no interest in this case I'll trust ur opinion >>

      I am a bankruptcy attorney who is SHORT.

      As I understand it, there has been no default on the bonds. No payment has been missed. There are no negative covenants.

      To support an involuntary, you have to show that the debtor is not meeting its obligations as they come due. If DAL has met your obligation, you need to find some it hasn't met. I don't think anyone is going out on that limb. Typically, petitioning creditors rely on the fact that their own claims are not being paid when due.

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