The Judge does NOT decide. Frontier's CEO picks the BEST plan, not who bids the most.
Ok. So you believe that the CEO of a bankrupt company gets to decide who gets to pay the creditors he and his company are trying to escape from? Well, this is my last response to you. What a joke.
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Choice is an illusion, between those with power, and those without.
The auction itself will not take place in the bankruptcy court; but will be held at the offices of our bankruptcy counsel in New York City. He stressed that the auction will not take place until Aug. 11, after the Aug. 10 deadline for final proposals has passed, and only if there is at least one proposal competing with the original court-approved Republic Airways Holdings, Inc. offer.
Please remember what Sean said in his last Update: that he and the Company’s board of directors, along with our financial and legal advisors, and in consultation with our Unsecured Creditors Committee, will make the final decision on which offer is best for all stakeholders, including our employees and the communities in which we operate.
The bottom line, then, is that the bankruptcy court does not conduct the auction on Aug. 11. Rather, the Company and its advisors will conduct the auction and those who have submitted final proposals will work to prepare what they hope will be deemed by Sean and our board of directors as the best proposal for all stakeholders. After the Company determines the highest and best proposal, it will be presented to the bankruptcy court for approval.
Judge will only step in if a creditor Objects to the plan.
Now there, those answers deserve a response. I was unaware that they were not in Bankruptcy Court in the true sense. Well reasoned, non-insulting statements are weclome by me. One line, borderline insults are not. B+.
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Choice is an illusion, between those with power, and those without.
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