Originally Posted by
rickair7777
My jaw dropped when I saw the 900's listed. But I assume that OJ's just posturing, basically asking the judge for carte-blanche advance permission to do whatever the hell he pleases with the equipment, whenever he pleases.
If granted, that would give him a lot of "free-agency" leverage over the parties to the bankruptcy. I doubt the judge will grant it though, it would be too lopsided against the interests of he creditors (the only folks who really count in Ch.11).
rickair7777,
All Mesa's aircraft are listed to bring forth the fact that Mesa would be insolvent if the creditors don't take back the unused aircraft. They have to make this fact obvious.
There are three groups of exhibits:
1. Excess
Leased Equipment to be
Rejected Immediatley
2. Excess
Leased Equipment to be
Rejected on Date to be Determined, Subject to Further Notice
3.
Owned Equipment that
May be Subsequently Abandoned
The motion is basically a conditional statement to persuade the judge, trustee, and creditors that "if" Mesa can't get relief on 77 (now 57) aircraft "then" they won't be viable and will be forced into Chapter 7; thus the listing of all airframes. Bankruptcy decisions are all based on the percieved furture viability of the company.
winglet