Bankruptcy Court Form B10

TVLOOPS

Member
Aug 20, 2002
32
0
Received some forms from the Bankruptcy Court in Virginia. I was sent Form B10 to complete and possibly return. Reading the instructions one way I need to return the form. Reading another way the CWA will handle the forms for all active and retired employees.
Does anyone have the answers ?
I hate to give money to lawyers.
 

Dea Certe

Veteran
Aug 20, 2002
889
0
TV,

You are a union member, right? You have 30 free minutes of time with a lawyer through Union Privilege. Call your union and get the numbers.

Good luck
 

jetmechline

Member
Aug 22, 2002
96
0
[P align=center][FONT face=Arial color=#000080 size=4]MEC CODE-A-PHONE UPDATE[/FONT][/P][FONT face=Arial][FONT face=Arial color=#00007f]
[P align=center]October 10, 2002[BR][/P][/FONT]


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[TD vAlign=center][FONT face=Arial color=#00007f][/FONT][FONT face=Arial]This is Roy Freundlich with a US Airways MEC update for Thursday, October 10, with five new items:
[P]Item 1. The Bankruptcy Court has approved the Debtor’s Motion to set a bar date of November 4, 2002, for the filing of unsecured claims, which are claims that accrued before the bankruptcy petition date on August 11, 2002. A notice of this order has been sent to all US Airways employees even though in almost all cases, employees do not have to file proofs of claim.[/P]
[P]Following discussions with ALPA, the debtor agreed and the Notice specifically provides in paragraph g on pages 2 and 3 that employees, former employees, and labor unions do not have to file claims for any wages or benefits that the debtors are authorized to pay pursuant to court order, including the first day wage order. That first day wage order was very broad and authorizes the payment of wages, vacation pay, benefits, and retiree medical and life insurance benefits.[/P]
[P]In addition, paragraph h of the Notice on page 3 provides that a proof of claim does not have to be filed based merely on ownership of stock unless there is a claim for a remedy like damages against the Debtors based on some transaction involving the stock.[/P]
[P]Therefore, in almost all cases there is no need for an employee to file a proof of claim form for any unpaid claim or benefit covered by the collective bargaining agreement. ALPA will be filing a proof of claim for all grievances.[/P]
[P]If you have any claim against a US Airways company that somehow [/P][/FONT][/TD][/TR][/TBODY][/TABLE]​
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Boomer

Veteran
Aug 20, 2002
1,139
70
T R O U B L E D C O M P A N Y R E P O R T E R

Friday, October 11, 2002, Vol. 6, No. 202

US AIRWAYS: Wants More Time to Make Lease-Related Decisions
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US Airways Group Inc., and its debtor-affiliates ask the U.S. Bankruptcy Court for the Eastern District of Virginia to extend their deadline to assume, assume and assign, or reject unexpired leases of nonresidential real property until the confirmation of a plan of reorganization, but no later than March 31, 2003.

Under Section 365(d)(4) of the Bankruptcy Code, the initial 60-day period within which the Debtors must assume or reject nonresidential real property leases expires on October 10, 2002. As of the Petition Date, the Debtors were lessees or sublessors under more than 500 Unexpired Leases. The Debtors are in the process of evaluating all of their owned and leased real estate and each Unexpired Lease agreement. In considering their options, the Debtors are evaluating a variety of factors to determine whether it is appropriate to assume, assume and assign, or reject each Unexpired Lease.

John Wm. Butler, Jr., Esq., at Skadden, Arps, Slate, Meagher &Flom, explains that if the current deadline is not extended beyond October 10, 2002, the Debtors may be compelled, without sufficient time to make a reasoned decision, to either assume substantial, long-term liabilities under the Unexpired Leases or to forfeit the benefits associated with some Unexpired Leases, which would be to the significant detriment of the Debtors' ability to operate and preserve the going-concern value of their business for the benefit of all creditors and other parties-in-interest.

Mr. Butler assures Judge Mitchell that the Debtors have made substantial progress in assessing a number of Unexpired Leases. On the Petition Date, the Debtors sought to reject 25 Unexpired Leases. Given the size of these cases, the number of Unexpired Leases and the need for the Debtors to focus on their primary objective of stabilizing their business, Mr. Butler explains that more time is needed to adequately assess whether to assume or reject each Unexpired Lease.

Mr. Butler informs that Court that the Debtors' decision about each particular Unexpired Lease and the timing of assumption or rejection depends, in large part, on whether the location will play a future role in the Debtors' business plan going forward. Whether each individual Unexpired Lease will be assumed or rejected will depend, most significantly, on whether the Debtors will continue operations at the location once the strategic business plan is fully implemented.

The Debtors have made great progress in formulating their
business plan. However, locations are still being evaluated. Accordingly, it is not possible to determine at this early stage whether certain of those locations will remain a part of the Debtors' business. The Debtors are also conducting an analysis at certain of the locations to determine whether there is value to the Debtors in an assignment rather than a rejection of those Unexpired Leases. These decisions cannot be made properly and
responsibly without an extension of the time within which the Unexpired Leases must either be assumed or rejected, Mr. Butler emphasizes.

Given the importance of the Unexpired Leases to their ongoing business operations and restructuring efforts, the Debtors ask the Court, out of an abundance of caution, for a bridge order extending the deadline under Section 365(d)(4) until the Court enters a final order with respect to this Motion.

* * *

Accordingly, Judge Mitchell extends the lease decision period until the November 7, 2002 hearing. (US Airways Bankruptcy News, Issue No. 10; Bankruptcy Creditors' Service, Inc., 609/392-0900)

US Airways Inc.'s 10.375% bonds due 2013 (U13USR2), DebtTraders reports, are trading at 10 cents-on-the-dollar. See http://www.debttraders.com/price.cfm?
 
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TVLOOPS

Member
Aug 20, 2002
32
0
I appreciate the above responses but let me ask the question in a different way. On BK Form B10 box 1 there are several boxes to check for Basis for Claim. The one I'm asking about is:

Retiree benefits as defined in 11 USC Sec 1114


From company sources and www.findlaw.com I've read Sec 1114. I'm still not sure, do I check the box and mail the form back?

Thank for any help.