Groucho
Well-known member
- Joined
- Nov 28, 2001
- Posts
- 199
USAPA had nothing to do with the arbitration clause. That clause was in the Term Sheet, which was negotiated by APA with Parker and Kirby, before USAPA was even aware of the merger. It was an absolute core of the merger proposal from Doug and Scott, and APA had to sign off on the concept of a cost neutral contract backed up by arbitration, or they would not proceed with attempting the merger.
This was all going on in February of 2012, just three months after AA had filed Chapter 11. The actual merger announcement was April of 2012. The Term Sheet, as it was called then, was a done deal. The arbitration clause survived into the MOU and then the subsequent MTA.
This was all going on in February of 2012, just three months after AA had filed Chapter 11. The actual merger announcement was April of 2012. The Term Sheet, as it was called then, was a done deal. The arbitration clause survived into the MOU and then the subsequent MTA.