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Old 21st Apr 2018, 12:02
  #112 (permalink)  
A and C
 
Join Date: Jan 1999
Location: north of barlu
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Training bonds

For some reason the repayment of training bonds to bankrupt companies is etched into the psyche of some pilots back in 1999 when Debonair went bust the staff / administrators meeting was dominated by questions about training bond repayment. The administrators became increasingly baffled by the same questioned asked repeatedly when they had said they could not ask for the pilots under bond to repay anything.

The fact of the matter is the courts would take a very dim view of company bankruptcy administrators taking action to recover training bond money from a person who had just had the means to repay the debt removed by the very bankruptcy they are administering.

This is a historical comment on the industry and not a comment on any other issue.
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