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Old 05-27-2018, 08:12 AM   #17  
nitefr8dog
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Joined APC: Apr 2007
Posts: 1,146
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Quote:
Originally Posted by Wayst View Post
I am not a finance guy so I donít know for sure, but if ABX management filed bankruptcy wouldnít that null and void any contracts and relieve ATSG from paying ABXís retirement. Isnít this why a lot of companies create parent companies and sub companies to be able to file bankruptcy as a business tactic or not be held liable for lawsuits because they are legally separate companies. It reminds me of when Frank Larenzo filed bankruptcy with Continental Airlines and operated the company with money from the parent company Texas Air Corporation. Bankruptcy has been used by many Aviation companies to get out of contracts and/or aircraft leases.

Like I said I am not a finance guy but if ATSG wanted to get rid of ABX I am sure they could find a way. I doubt that would ever happen though.

Before the negative comments come in I am not management and am not an expert in finance or bankruptcy laws, just expressing an opinion.
Not if ATSG lives on....also the PBGC can now take assets (ABX aircraft on certificate before ATI, CAM, etc) to fund it if ATSG went under. ATI pilots have been working to fund our retirement and will be for years to come. I actually looked at it as a positive those idiots did not get a retirement...it helps fund the ABX pilots retirement. One other thing....the bankruptcy laws changed quite a bit after Delta and United dumped their retirements on the tax payers.
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