AB to sue EY for a billion Euro damages
Mar 5, 2018, 4:41 am
#1
Moderator, SkyTeam and Germany
Original Poster
Join Date: Sep 2001
Location: FRA/STR/NUE
Programs: BA, LH, KL, EY, IHG, Marriott, Hyatt, Hilton, Radisson
Posts: 5,946
AB to sue EY for a billion Euro damages
German newspaper Süddeutsche Zeitung is stating today that AB insolvency administrator Flöther together with the committee of creditors came to an agreement to sue EY for damages in "a billion Euro range".
Base for such claims is a letter from James Hogan (EY) dating Apr. 28 2017 to AB management, stating that EY will secure the needed liquid funds for AB to guarantee their business for 18 months. Several experts deem this to be a "binding letter of comfort". This claim would then be the biggest asset of insolvent AB.
Let's see how this develops...
Base for such claims is a letter from James Hogan (EY) dating Apr. 28 2017 to AB management, stating that EY will secure the needed liquid funds for AB to guarantee their business for 18 months. Several experts deem this to be a "binding letter of comfort". This claim would then be the biggest asset of insolvent AB.
Let's see how this develops...
Mar 8, 2018, 12:09 am
#3
FlyerTalk Evangelist
Join Date: Mar 2008
Location: Netherlands
Programs: KL Platinum; A3 Gold
Posts: 28,714
They did....they just got more ambitious over the winter.
https://www.flyertalk.com/forum/airb...0-million.html
https://www.flyertalk.com/forum/airb...0-million.html
