Originally Posted by
Wingtips
It does not work like that, when you go BK that money becomes the courts and is used towards debt and the restructuring, the court if they wanted to could put it toward pensions. Also top management is going to lose a lot in bk.
Of course they take the money. The creditors are the one the one that can force the liquidation. If their is no money or assets they will motion for liquidation. The creditors will drive the future when they go into BK. Obviously the judge makes the final say. The courts will side with the creditors. If the creditors want liquidation and the judge feels nothing is left then AMR is done. Bottom line is you need some cash or assets to sell or your done.
The judge using the cash to fund the pension over the creditors, bond holders, and share holder? You smoking crack?
Top Management? Right why do you think they keep delaying the inevitable.