I guess one would have to be one of the MEC members or a fly on the wall during one of the closed door meetings they had about the bond formula but I cant imagine that anyone that was formulating the plan that would benefit from the distribution would also include a claw back provision that would take from them.

I do know that the UAL ALPA MEC approved a 5 million dollar payment to Steve Presser, a finance consultant, for his assistance in contract 2003/bond issue/stock distribution. This is in contrast to American's APA that paid Steve Presser 1 million for his consulting fee for essentially the same service that was provided to UAL ALPA. I only end up with more questions than answers.