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Old 01-04-2026 | 08:25 AM
  #77  
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rickair7777
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From: Engines Turn or People Swim
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Originally Posted by jerryleber
Spirit's two trips to bankruptcy seems to undermine your corporate argument and the 2005 BAPCPA legislation made it more difficult, expensive, and less financially advantageous for consumer debtors to file for bankruptcy, particularly Chapter 7 liquidation.
My argument was that you need to be in financial dire straits. They were. Might there have been shenanigans along the way? Of course, but as long as you're actually broke you can still file.

Also in the case of airlines, you can't cut it quite as close as in other industries, since the FAA will start looking hard at your operating authority if you're near insolvent (safety). The court will recognize this fact and allow for it.

As I said, "as far as I know". My interest in that realm is limited to corporate law and business. Don't follow personal stuff. Glad to hear they made it harder, at the very least they should garnish the crap out of your wages if dig yourself a hole with lifestyle (more sympathy for medical debt, health-induced job loss, etc).
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