Originally Posted by
701EV
Delta needed the cash for the law firm that did the bankruptcy. That money was put into a account, like an escrow. I forget the legal term. The money is there so the law firm gets paid regardless of what happens to Delta. So if Delta doesn't survive and has to be liquidated the law firm is not waiting for the judge to pay the lawyers. The lawyers get their money first. That is what my sources told me back in 05.
701EV
I’m sure $400m helps in some way, I doubt the law firm got all of that. Some went to sr mgmt retention, some went to lawyers, some may have gone to AirServe and Gate Gourmet, who knows. My point is there are several ways Delta could come up with the money and only one option allowed them to protect 25% of their gate space in ATL. My argument is that was the driving decision as to which asset to sell to get the $$.