AMR seeks more time for reorganization plan

[AAOHNO]

Then dont ask a question you dont like the answer too.

And your a bitter welder, arent you?

Dont you have more things to bash Bob and the No voters about?

Lets hear you whine and cry about the T/A that failed and the money you lost.

Can I get an AMEN and a HALLELUJAH! for buck: "Hallelujah" is considered a joyful word of praise to God"

 

[eolesen]

Question for our Bankruptcy legal experts out there.

I thought the new laws passed after the last round of airline bankruptcies was intended on stopping this kind of thing.

Save me the time of researching it and give me the cliffs note version here.

Thanks.

What the changes did was prevent someone like UAL management from spending two or three years with exclusivity, preventing a hostile bid.

The new law limits that timeframe to a max of 18 months, plus time to complete a vote of creditors should a plan be presented at 11pm the night that exclusivity expires.

It won't surprise me to see that even 18 months won't be enough time to hear everything filed, since new challenges are filed every week. That brings an interesting question: is the provision limiting a debtor's right to control reorganization to just 18 months even constitutional, since it could potentially be denying due process?