Originally Posted by phil_flyer

Although I wouldn't normally make an appeal to authority in an argument to justify my position, since you put it into issue I will take the challenge.

I think I qualify as having "real" bankruptcy experience given I am a restructuring and M&A partner at an AmLaw 25 firm with over 20 years experience.

My normal billable rate for this type of advice is $965/ hour.

Further to the above, there is not enough information available to determine whether the gift cards bought after the filing will be post-petition obligations. It depends on Costco's arrangements with AA for the resale. If the cards have been prepuchased by Costco or are POD, they will be pre-petition obligations and have creditor status unless assumed by AA. Happily, they are relatively highly ranked in the unsecured class but there is no telling what the ultimate recovery will be.

One last point: the silence on the AA web page regarding credit vouchers and gift cards is deafening.