Unions representing the company's workers say they are in danger of being shortchanged, while shareholders of the old AMR Corp. get another generous payoff, Dow Jones Newswires reported on Friday. Hundreds of millions of dollars of valuable stock is still stored up in bankruptcy reserve accounts, waiting for a final reckoning of the accounts from the 2011 bankruptcy of AMR, parent of American Airlines. AMR's bankruptcy was a rare case that produced value to spare for shareholders. According to court papers, investors in the old equity received more than $9.5 billion of new American shares in the four months following AMR's bankruptcy exit. Unions representing pilots, flight attendants and other workers of AMR Corp. say that they are being asked to take a haircut when the remaining stock is handed out while investors in the old equity get more than their fair share. American spokesman Casey Norton said that the company will respond with a court filing and is reviewing a bankruptcy court motion the unions filed on Tuesday, criticizing the company's distribution plan.
