CWA members...How can you say Yes

Dea Certe

Veteran
Aug 20, 2002
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Please correct me if I'm wrong here, but I was under the impression Dr Bronner could force Chapter 7. I understood it could be done if RSA demanded their money back. If this is not so, can someone explain this to me?

Dea
 

oldiebutgoody

Veteran
Aug 23, 2002
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www.usaviation.com
The DIP funding is dependent on qualifying for the ATSB loan guarantee. If the T/As get voted down, U no longer would qualify for the guarantee. There would be NO DIP financing from RSA at that point. Bronner doesn't have to do a thing. No concessions, no financing. It's that simple! The only thing left to do would be to decide what assets go where. Management may be able to go get an 1113 action approved from the judge to impose the contracts, but that may be too late. Once the deal falls apart, the RSA can just not renew it (which may be their goal anyway), then U is gone forever!
 

MrAeroMan

Veteran
Dec 29, 2002
895
2
[blockquote]
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On 12/30/2002 7:24:38 PM Dea Certe wrote:

Please correct me if I'm wrong here, but I was under the impression Dr Bronner could force Chapter 7. I understood it could be done if RSA demanded their money back. If this is not so, can someone explain this to me?

Dea
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[/blockquote]
You're right Dea. He can force Chapter 7 if he feels like it. All he has to do is withdrawn the DIP funding and it's over. He's the first one to be paid so all his money comes off the top. If the contracts are voted down that is what he will do imho.