Client Situation Resolution

UAL Corporation (United Airlines)

Certain of United’s Unions challenged the feasibility of United’s business plan which called for, among other terms, elimination of billions of dollars in certain post-retirement benefits. An ABS professional led a team reviewing this plan on behalf of both the Company and Unions. A comprehensive review of United’s business plan was undertaken. An opinion with respect to feasibility was reached. As a result of this opinion, the Unions withdrew their objection to United’s plan enabling concessions necessary for United to emerge from bankruptcy.

Northwest Airlines, Inc.

Certain Unions holding large claims required a review of Northwest’s reorganization plan to determine whether to support or object to the plan. An ABS professional led a team reviewing this plan. A detailed review of Northwest’s reorganization plan was undertaken resulting in a recommendation for the Union to support the Company’s plan.

Flight Options, LLC

 $250 million seller of fractional jet aircraft, and related operational services in the midst of attracting financing from public and private equity markets. Significant financial reporting issues were inhibiting this process. An ABS professional was a member of the implementation team. The quality and timeliness of financial information was much improved resulting in the production of audited financial statements which enabled the company to attract new investors. Ultimately the Company was acquired by Raytheon’s fractional share group.