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07-26-2003, 01:06 PM
Air Canada is in bankruptcy proceedings. Debtors are accorded certain protections in bankruptcy proceedings. Air Canada believes this protection applies to regulatory agencies. One way to for the traveling public to even become more concerned about bankrupt airlines is to tell them they can bush-off regulators.
" In essence over the past three months, there has been a 'dialogue of the deaf' as [Air Canada] has insisted that it need not respond to any regulators at all," Mr. Justice James Farley said in a ruling released yesterday.
They argued that Air Canada is not fulfilling its obligations to the agencies. They also said Air Canada's court protection from creditors, granted by Judge Farley, did not apply to federal agencies"
Read article
http://www.globetechnology.com/servlet/ArticleNews/TPStory/LAC/20030724/RAIRC24/TPTechInvestor
" In essence over the past three months, there has been a 'dialogue of the deaf' as [Air Canada] has insisted that it need not respond to any regulators at all," Mr. Justice James Farley said in a ruling released yesterday.
They argued that Air Canada is not fulfilling its obligations to the agencies. They also said Air Canada's court protection from creditors, granted by Judge Farley, did not apply to federal agencies"
Read article
http://www.globetechnology.com/servlet/ArticleNews/TPStory/LAC/20030724/RAIRC24/TPTechInvestor