SR Grp liquidation
Mar 27, 2002 | 3:07 am
#1
Original Poster
Original Member
Join Date: May 1998
Location: Munich, Germany
Posts: 414
SR Grp liquidation
Any news about the SR insolvency? I hardly dare to ask if there is a chance for sr shareholders to get some raepplis ...
Mar 27, 2002 | 3:44 am
#2
Join Date: Dec 2001
Location: Zurich
Programs: M&M FTL, HHonors Diamond, Langham Elite, SPG Corporate Preferred
Posts: 470
Sorry to be so clear about this, but: NO ! It would be a cold day in hell....
Mar 27, 2002 | 3:56 am
#3
Original Poster
Original Member
Join Date: May 1998
Location: Munich, Germany
Posts: 414
No chance? But there is a legal dispute about the new name "Swiss", isn't it? Swiss is said to exploit the "good name" Swissair and that's why Swiss should pay for it?????
Well, I am lucky enough to be the owner of ONE SR share :-)
Well, I am lucky enough to be the owner of ONE SR share :-)
Mar 27, 2002 | 7:49 am
#4
Join Date: Aug 2000
Location: ZRH / YUL
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Posts: 7,583
michilo, I'm in the same situation, but I have already written off my share.
RE the name thing, the Zurich "Handelsgericht" ruled that SWISS isn't violating SR's rights.
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airOli, the Swiss Air Line.
RE the name thing, the Zurich "Handelsgericht" ruled that SWISS isn't violating SR's rights.
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airOli, the Swiss Air Line.
Mar 27, 2002 | 8:23 am
#5
Join Date: Feb 2002
Location: Stuttgart, Germany
Posts: 175
Lucky guys; I had to write off slightly more than one share.....
Mar 27, 2002 | 10:55 am
#6
Join Date: Dec 2001
Location: Zurich
Programs: M&M FTL, HHonors Diamond, Langham Elite, SPG Corporate Preferred
Posts: 470
airoli is right, the Commercial court has denied Swissairs request for an injunction keeping SWISS from using the name. Swissair can still file a regular lawsuit, but the administrator Karl Wthrich has made it clear that he will only allow such a lawsuit to be filed if the chances for success are good.
You can definitely write off the shares because theres just not enough assets around to even pay creditors, but theres one possibility to get something: you could try and file a claim with the administrator for the 5000 miles each shareholder was supposed to get every year. The legal situation about these 5000 miles is not entirely clear, and it sure doesnt hurt to file a claim. Details how to do that are on the website of the administrator www.sachwalter-swissair.ch
You can definitely write off the shares because theres just not enough assets around to even pay creditors, but theres one possibility to get something: you could try and file a claim with the administrator for the 5000 miles each shareholder was supposed to get every year. The legal situation about these 5000 miles is not entirely clear, and it sure doesnt hurt to file a claim. Details how to do that are on the website of the administrator www.sachwalter-swissair.ch
Mar 27, 2002 | 3:07 pm
#7
FlyerTalk Evangelist
Join Date: Jan 2000
Posts: 15,854
Or you could go after the unsolicited "cheerleaders" of SR shares who encouraged many to buy these shares!!
Mar 27, 2002 | 4:00 pm
#8
Join Date: Dec 2001
Location: Zurich
Programs: M&M FTL, HHonors Diamond, Langham Elite, SPG Corporate Preferred
Posts: 470
Well, how did the old Romans say...
"caveat emptor".....
"caveat emptor".....