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Calculation of Non-Contract Claims PDF Print E-mail
Jun 20, 2007 at 12:23 PM
Calculation of Non-Contract Claim Amounts


The Term Sheet(agreement between Delta and the Non-Pilot 1114 Committee, not the DALRC) provides that the non-contract claims are allowed in an amount equal to the premiums for January 2007 though and including the month that the Plan(Delta'a Bankruptcy Exit Plan) is confirmed. The Plan was confirmed in April.

The Term Sheet also provided that these claims would be estimated for voting purposes assuming a June 2007 Confirmation (when the Term Sheet was negotiated, it was obviously impossible to know when confirmation would actually be).

As a result, these retirees were permitted to vote a 6-month claim, but were paid a 4-month claim. This was all set out in the motion that allowed these claims, as well as the letters sent to the affected retirees in January



Delta's Confirmed Plan
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