Originally Posted by
BE24pilot
Couple of questions? First isn't the head of ALPA a Delta guy; second what is to stop the company from giving Delta pilots everything they want then filing for bankruptcy and letting the courts give out what they think are fair.
You can't file chapter 11 on a whim. You have to actually be bankrupt. In addition you lose all control of the company and risk many different very painful outcomes such as takeovers, breakups ect...
Delta came within 1 vote of just such a takeover/breakup when they filed before. If a solvent company files chapter 11 the creditors would simply take the assets and sell them shutting down the company. They would however get paid.
The role of the judge in a bankruptcy filing is to protect the creditors. By law that is what he has to do.