If RAH goes Chapter 11, it wont be because of anything the pilot group votes for or against.
That said, Chapter 11 could go two ways and this is entirely under the pilot group's control:
Scenario 1)
Pilots vote in the LBFO and - a day, week, or month later - Bedford files bankruptcy stating that the new pilot contract helped push the company over the edge. As part of restructuring, the company requests that the court reject the pilot contract via the 1113 process.
Company lawyers present each part of the new contract and will have no trouble convincing the judge that RAH pilots are making above-average pay and compensation. The company will present an alternate contract and testify that, under their proposed contract, RAH will have a chance of restructuring successfully.
Legal Note - This company-written 1113 contract could be worse than the contract you've been stuck with all these years.
Another Legal Note - The judge is prohibited from considering that you have worked under a sub-par contract for the last 10 years. The only contract he can consider is the one in effect on the day of bankruptcy filing.
Another Legal Note - The judge can not impose his own contract on the pilot group; if he is convinced to reject the current pilot contract, he must impose the company's proposed 1113 contract WITHOUT MODIFICATION. The judge does not have the latitude to impose a middle-of-the-road contract; it's all-or-nothing.
Judge throws out LBFO contract and allows company to impose new draconian contract on pilot group. After restructuring, negotiations can begin on new contract.
Scenario 2)
Pilots vote down the LBFO and Bedford files bankruptcy. In order to reject the pilot contract under 1113, company lawyers need to prove that RAH pilots make more money than their peers, i.e. RAH pilot pay and compensation are part of the reason RAH can not be competitive in today's regional market. This argument simply can not be won if RAH pay is below industry average.
As a 1113 counter-argument, the IBT presents the company's Official Last Best Offer and testifies that Bedford is on record saying the RAH pilot pay and compensation need to be increased to attract the pilots necessary for RAH's future success.
Judge has no compelling reason to reject old pilot contract. After restructuring, negotiations can begin on new contract.
Both scenarios suck, so take your pick.
Here's some legal reading if you want to understand the 1113 process:
http://www.google.com/url?sa=t&rct=j...KzphDSRgGHeJow