This is very similiar to the reverse merger between US AIr and American Airlines. Over 5 Billion in debt, American Airlines had filed for bankruptcy while much smaller US Airways (with a lot of cash)wanted to merge.
US Air CEO Doug Parker had to convince American Airlines employees they would keep their jobs and pensions.
As the negotiations with pilots, American Airlines employees heated up,
the question was asked and Doug Parker uttered the magic words "AAMRQ shareholders"may receive additional distributions".
Doug Parker, the CEO of US Airways, held the same position with the new airline, while American Airlines 0CEO Tom Horton served as non-executive chairman. The deal was essentially a purchase of AMR by US Airways, as US Air shareholders received a share in the new company for each of their US Air shares.
AAMRQ shareholders however, in particular made a killing,
News 
Market Data 
Discover 
AI
