StaySeated
IBT does not represent ME
- Joined
- Nov 27, 2001
- Posts
- 782
This has to be approved by the UCC and the BK court. With RAH on the UCC, any bid will have to be considerably higher for the court to approve the deal.
To correct earlier post, this is an acquisition. The RLA details how acquisitions are handled. This is also nothing like ATA, as they had already filed Ch. 7.
The only good news so far is that RAH, or SWA, or any other bidder can no longer state that "we were your only salvation, without us you would have liquidated".
If this offer does qualify and SWA prevails in the auction, the law requires several steps towards SLI.
To correct earlier post, this is an acquisition. The RLA details how acquisitions are handled. This is also nothing like ATA, as they had already filed Ch. 7.
The only good news so far is that RAH, or SWA, or any other bidder can no longer state that "we were your only salvation, without us you would have liquidated".
If this offer does qualify and SWA prevails in the auction, the law requires several steps towards SLI.