dagger Posted December 13, 2004 Share Posted December 13, 2004 http://www.newswire.ca/en/releases/archive...4/13/c4585.html Link to comment Share on other sites More sharing options...
conehead Posted December 13, 2004 Share Posted December 13, 2004 Have the other unions paid out to the members yet? I'm just curious how much the pilots will recieve, and how is it divy-ed up? Will all members recieve the same amount, like the I.A.M. or will there be a formulae involved? Link to comment Share on other sites More sharing options...
moeman Posted December 13, 2004 Share Posted December 13, 2004 Cheques are being sent out as we speak. STRENGTH BY ACTION Issue 28A Issue 28A November 5, 2004 CCAA – CUPE Claims and Its Distribution When Air Canada entered into CCAA protection on April 1, 2003 they stopped payment to anyone to whom they owed money. The fuel suppliers, the aircraft lessors, the contract workers, the paper towel suppliers etc. did not get their bills paid. All the monies owed to these individuals and corporations became claims and the payees became creditors. All of the creditors were required to submit a claim to Air Canada for the money they say is owed to them. Larger amounts were then sent to a Court appointed Claims Officer who then determined the value of the claim. CUPE, like the fuel suppliers, was a creditor of Air Canada. We submitted claims for amounts that were given in contract concessions and for all of the Union’s 2,400 grievances filed prior to April 1, 2003. Ultimately our claims were reviewed by the Court appointed Claims Officer who assessed the value of these claims at $126,260,812.12. This amount was then compromised and has been paid out at approximately 17 cents on the dollar. Therefore, CUPE has approximately $21 Million dollars that will be distributed to the Union members by the end of the year. There are two components to our creditor Claim, the restructuring component and the grievance component. The restructuring component is the larger of the two and has been valued by the Court appointed Claims Officer at $111,403,582.01 with a compromised value of approximately $18.9 Million. The grievance component has been valued at $14,857,230.00 with a compromised value of approximately $2.5 Million. Restructuring Claim The restructuring claim is divided among different portions. The largest portion was calculated on the basis of a severance and notice. The portion allocated to severance and notice equates to 68.8 Million or a compromised value of 11.6 Million. This portion of the claim will be distributed among those members who were still employed by Air Canada on July 1, 2004. The claim is based on Article 19.07 of the Collective Agreement for severance and termination. The rationale for the claim in a nutshell is that were it not for the concessions you made, Air Canada would have liquidated and you would have received severance and termination pay. Because you gave significant concessions to keep Air Canada flying, you are entitled to the amount of severance and termination pay that you would have received had you not made those concessions. The distribution of these amounts to the member is dependent on years of service and rate of pay. A member who has worked a minimum of two (2) years shall receive one (1) week of pay for each year of service, to a maximum amount of twelve (12) weeks of pay. Example 1: You were hired in 1978, and earn a weekly wage rate of $784.00. You will receive 12 weeks of severance equal to $9,408.00, this amount is then compromised for a total of $1,599.36. Example 2: You were hired in May 2000, and earn a weekly wage rate of $574.00. You will receive 2 weeks of severance equal to $1,148.00, this amount is then compromised for a total of $195.00. Other portions of the restructuring claim include the loyalty bonus valued at $25 Million, or $4.2 Million compromised to be distributed among members who were on the Air Canada payroll in 1999, and the illegal layoffs valued at $4.4 Million, or $748,000 compromised, to be distributed among members who were illegally laid-off in April 2003. Grievance Claim As stated earlier the grievance component of the Union’s claim has been valued by the Claims Officer at $14,857,230.00 with a compromised value of approximately $2.5 Million. In August of 2003 the Union officers and staff undertook the arduous task of calculating the value of each of the 2,400 grievances in its files. These values were then submitted to Air Canada and the Court appointed Claims Officer. In the months following August, the Union met frequently with Air Canada and the Claims Officer in order to demonstrate that the value that the Union assigned to each grievance was accurate. The Union’s value for the bulk of the individual grievances has been accepted. Therefore, if you filed a grievance for a pay claim that Air Canada refused to honour, and it was determined that the claim was worth $700.00, then you will receive $119.00. Policy grievances that have been valued shall be distributed among those members who were impacted by the policy violation. There are a significant number of Canadian policy grievances that will only be distributed among those members who were formerly employed at Canadian Airlines. The total value of these policy grievances is approximately $4.3 Million for a compromised value of $734,222. Please note that the majority of the grievances filed after April 2003 and prior to September 30, 2004, have been resolved through the clean slate process. Resolutions of these grievances will be paid out on a dollar for dollar value and is not compromised. The Union had over 800 grievances to resolve and therefore accepted settlements for the majority of grievances that sought a money remedy. Those settlements range between 50% and 100% of the assessed value of the grievance. Each member who filed a grievance that was settled for a specific dollar amount will receive a letter from the Union that outlines the amount of their settlement. Actual Distribution The Union has hired financial advisors and lawyers who have been working for the last month on the distribution of these claims. Members will receive a cheque representing their portion of the claim by the end of the year. With the cheque you will receive a letter that will outline the portion of your cheque that is attributed to severance and notice, the portion that is attributed to the loyalty bonus, the portion that is allocated to policy grievances, the portion that is allocated to Canadian Policy grievances and where applicable the amount attributed to any individual grievances that you filed. As always, we appreciate your participation and support, Yours in solidarity, Pamela Sachs on behalf of the Component Executive Link to comment Share on other sites More sharing options...
Guest rattler Posted December 13, 2004 Share Posted December 13, 2004 So will they deduct the CUPE cheques for the overpaid meal allowances DUCKING NOW Link to comment Share on other sites More sharing options...
Mitch Cronin Posted December 13, 2004 Share Posted December 13, 2004 Nice thought Dagger... I'm afraid my dog's already spent that cheque though. ...so no extra joy juice for me. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.