Originally Posted by Saabtrash
Hopefully the judge will have some common sense and see right through Mgt.'s B.S.
Chapter 11 has been an eye-watering experience for many pilots lately. One disappointment is that the judge DOES NOT rule on what's fair. The judge will listen to briefs and approve motions that are founded in common bankruptcy law practices and that are acceptable to the creditors committee. There is NOTHING in this process that requires the judge to consider non-equity stakeholders such as labor. Anyone who expects a King Solomon approach is going to be sorely disappointed.
Hate to rain on the parade, but the Chapter 11 process is HARSH. It's also harsh for management as they no longer effectively run the company, the creditors do - which sometimes is a good motivator for managements to stay OUT of Chapter 11.