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The Bankruptcy Hotline
Retired Pilots Barred by Doctrine of Equitable Mootness
Retirees should have sought a stay of the order terminating their pension: The Fourth Circuit has ruled that the retired pilots of a bankrupt airline are barred by the doctrine of equitable mootness from appealing the bankruptcy court order terminating the pilot's pension plan. Retired Pilots Association of US Airways Inc. v. US Airways Group Inc. (In re US Airways Group Inc.), No. 03-1825 (May 27).
One of the major issues in the airline's Chapter 11 was how to manage the underfunded pension plan of its retired pilots. After negotiations broke down, the airline filed a notice with the bankruptcy court of its intent to terminate the pension plan, which a Chapter 11 debtor can do if it proves that it cannot pay all of its debts and will go out of business without terminating the pension. The bankruptcy court ordered the “distressed termination” of the pension plan and the pilots' benefits were reduced following the assignment of the plan's liabilities to the Pension Benefit Guaranty Corporation. In response, the pilots filed a notice of appeal of the termination order but did not seek a stay of either the termination order or the implementation of the plan. In the meantime, the debtor's plan was confirmed and the debtor emerged from bankruptcy. The district court dismissed the pilots' appeal as equitably moot.
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