Bankruptcy Update !!

Discussion in 'Consolidated Freightways' started by flstc2000, Jul 8, 2006.

  1. flstc2000

    flstc2000 Member

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    Dated July 3rd, 2006.
    In a 3 page letter from the attorney representing the Teamster members, Frederick P., has clarified some items that have been incorrectly stated on a previous post.
    First, no checks are in the mail, as another person has stated.
    I will briefly explain a few items instead of writing word for word from this 3 page letter.
    Almost all Warn act claims have been paid to date ( 96% ) with the remaining people not eligible.
    There are about 13,000 unresolved employee claims for our vacation, holiday, sick days etc.
    To date, there is no agreement between the company and the union on these items.
    A third party auditor has checked these claims and they also show wide discrepancies between what the employees listed on the bankruptcy claim forms and what the company has records for.
    Same goes for grievances, tolls, out of pocket expenses etc.
    The expected final payout is in the 15 to 20 cents on the dollar, same as was reported before.
    Do not expect any payout soon.
    Any questions, feel free to post on this thread or PM me and I will attempt to answer ( from the letter received ) as best I can.
     
  2. trucker4cf

    trucker4cf Member

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    I was a manager. I have not yet rec'd my money. That is why i had a lawyer.
     
  3. flstc2000

    flstc2000 Member

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    I understand now .... the information I have posted refers to contractual employees only.
     
  4. excfman

    excfman Active Member

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    oh well what can we say not suprise about that news
     
  5. xCFr2ABFr-in-so.CA

    xCFr2ABFr-in-so.CA New Member

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    You should read the last Information Report #22 (dated October 10, 2006). Easy to find on MSN search. This should answer most questions. Yes, WE GOT SCREWED!!!
     
  6. flstc2000

    flstc2000 Member

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    You can also find that same information on the Teamsters.org web site. Click divisions, then click freight, go to left side of page and then hit CF bankruptcy.
     
  7. JustPaul_1

    JustPaul_1 CF, ROADWAY, YRC ????

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    I know alot of people seem to be counting on this for some reason. I was out of Mira Loma and have seen alot of people hurt, I would not believe a thing until you see it.
     
  8. Jake Break

    Jake Break New Member

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    CRAP, the way the vacation thing is worded I OWE THEM money. WTF...
     
  9. SummerGal

    SummerGal New Member

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    Wow, that seemed like a big mess.



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