Tom Horton Doesn’t Deserve a $20 Million Severance as a Reward for Dumping Employee Obligations

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We support U.S. Trustee Tracy Hope Davis in her fight to ensure that Tom Horton leaves American Airlines with no more than what the bankruptcy law dictates.

FROM THE HUFFINGTON POST:
“The objection filed Friday by the U.S. trustee’s office says bankruptcy law caps such payments, even if they are agreed to in bankruptcy court but not made until the company exits bankruptcy protection. Bankruptcy law limits severance payments to executives and aims to make sure companies can repay as much of their debt as possible.
The objection also says previous company filings showed that Horton would get a maximum of $6.4 million if he had left at the end of last year, and raises the question of why he should get so much more money now. American has said in filings that the money for Horton is in recognition of his efforts during the airline’s restructuring and his role in overseeing the merger with US Airways.
The trustee’s objection also says American should be required to explain how its board determined that $20 million was the right amount for Horton, and to say whether independent directors approved of the payment.
The trustee’s office is part of the Justice Department. Its job is to review bankruptcy cases to make sure bankruptcy laws are being enforced.”

TOM HORTON

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1 comment
  1. Thomas P. Aurilio said:

    Thank you Tracy Hope for fighting for those of us who have been robbed of our pay and benefits while this leach Horton looks to steal even more with the blessing of a judge who knows this is against the law. Horton should get nothing but jail time for what he has done. He has destroyed careers and families with his greed. Judge Lane needs to be put in jail for this. A judge is supposed to uphold the law. But he is breaking it. He nor any other judge is above the law.

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