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American Airlines Group Inc. Message Board

hmengng111 8 posts  |  Last Activity: Jul 7, 2016 9:25 PM Member since: Jan 8, 2010
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  • Reply to

    Whither Final Distribution?

    by hmengng111 May 10, 2016 1:12 PM
    hmengng111 hmengng111 Jul 7, 2016 9:25 PM Flag

    23 Feb 2016: court hearing
    18 Mar 2016: American's lawyers replied
    until today : no news at all, zilch!

  • Reply to

    Another delay ...

    by mechjr Jun 20, 2016 8:48 AM
    hmengng111 hmengng111 Jun 22, 2016 8:29 PM Flag

    The request for extension of deadline is nothing but a formality. There has been no trial date set for this, so this will just keep on extending until the judge decides to set a trial date

    Taken from the latest 10Q filing :
    ==========================

    There is also pending in the Bankruptcy Court an adversary proceeding relating to an action brought by American to seek a determination that certain non-pension, postemployment benefits are not vested benefits and thus may be modified or terminated without liability to American. On April 18, 2014, the Bankruptcy Court granted American’s motion for summary judgment with respect to certain non-union employees, concluding that their benefits were not vested and could be terminated. The summary judgment motion was denied with respect to all other retirees. The Bankruptcy Court has not yet scheduled a trial on the merits concerning whether those retirees’ benefits are vested, and American cannot predict whether it will receive relief from obligations to provide benefits to any of those retirees. Our financial statements presently reflect these retirement programs without giving effect to any modification or termination of benefits that may ultimately be implemented based upon the outcome of this proceeding.

  • hmengng111 hmengng111 Jun 22, 2016 8:08 PM Flag

    Are you referring to claimant "Section1114 committee of retired employees"? This one is a non-issue with regards to any interim distribution to AAMRQ shareholders. It was already unsettled back in March 2015 when AmericanAir filed the motion to request interim distribution to shareholders.

    In the latest 10Q filing, it was stated - - There is also pending in the Bankruptcy Court an adversary proceeding relating to an action brought by American to seek a determination that certain non-pension, post-employment benefits are not vested benefits and thus may be modified or terminated without liability to American. On April 18, 2014, the Bankruptcy Court granted American’s motion for summary judgment with respect to certain non-union employees, concluding that their benefits were not vested and could be terminated. The summary judgment motion was denied with respect to all other retirees. The Bankruptcy Court has not yet scheduled a trial on the merits concerning whether those retirees’ benefits are vested, and American cannot predict whether it will receive relief from obligations to provide benefits to any of those retirees. Our financial statements presently reflect these retirement programs without giving effect to any modification or termination of benefits that may ultimately be implemented based upon the outcome of this proceeding.

  • hmengng111 hmengng111 Jun 22, 2016 9:22 AM Flag

    which one are you talking about?

  • hmengng111 hmengng111 Jun 20, 2016 11:32 PM Flag

    the letter to Judge Lane is dated 18-March-2016. It has been more than 3 months since. The court heard the motion on 23-Feb-2016, so it is coming to 4 months. I don't know if the judge has ruled or the bottleneck is at somewhere else?

  • hmengng111 hmengng111 Jun 20, 2016 11:30 PM Flag

    Yes, one year ago, the judge refused to release the AAL shares on concerns that the outstanding claims remain unsettled. But today, those claims are all settled, so I don't know what is going on

  • Reply to

    Junkmanlong's take on AAL

    by fishtankstorm Jun 3, 2016 9:56 AM
    hmengng111 hmengng111 Jun 20, 2016 11:25 PM Flag

    the total o/s AAMRQ share base is 394.2 million, and the shares left in DCR is about 25.1 million, so the distribution ratio is approximately 6.36 % and this is assuming no more claims resolved in favor of claims holders

  • Reply to

    Another delay ...

    by mechjr Jun 20, 2016 8:48 AM
    hmengng111 hmengng111 Jun 20, 2016 11:22 PM Flag

    this case (section 1114 retired employees) has got no bearing on the final distribution of AAL shares to AAMRQ shareholders. Lawyers for AAL filed a motion to release excess shares on March 2015 and this case was already unresolved back then

AAL
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