Okaloosa County BOCC — September 16, 2014 — Action Item Printout

BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: September 16, 2014 TO: Honorable Chairman and Members of the Board FROM: Sunil Harman SUBJECT: Stipulation for American Airlines for satisfaction of bankruptcy pre- petition claims DEPARTMENT: Airport BCC DISTRICT: All STATEMENT OF ISSUE: The Department of Airports requests that the Okaloosa Board of County Commissioners approve a Stipulation and Settlement of Claims for American Airlines. BACKGROUND: As it relates to American Airlines Bankruptcy matters, the salient facts are as follows: • American Airlines as part of its bankruptcy filing published schedule # 2040598 on 2/27/2012 for $32,730.88 in favor of Okaloosa Regional Airport as claimant. • Northwest Florida Regional Airport formerly known as Okaloosa Regional Airport filed claim # 2090 on 4/11/2012 for $32,314.31. • Invoices that comprise a schedule of payments covered the period and invoices save adjustment for partial payment on the post-petition portion of invoices show that the debt was cured. • However, a name change of the airport from Okaloosa Regional Airport to Northwest Florida Regional Airport during the ensuing period resulted in confusion and the claim being listed as a continued indebtedness. • Scheduled claim # 2040598 was not matched to claim # 2090 due to two different names being used for Northwest Florida Regional Airport. • Claim # 2090 was expunged on or around April 5, 2013 in connection with a lease cures payment paid to the airport which resolved the claim as verified by a payment schedule rum of the time-frame from the Clerk's office. • The stipulation and settlement of claims is necessary for the airline to have the court discharge the bankruptcy obligation. OPTIONS: Approve, Deny or Table the requested recommendation. RECOMMENDATIONS: The Department of Airports recommends that the Okaloosa Board of County Commissioners approve the Airline requested stipulation and settlement. As the pre- petition claim has been cured and the stipulation is necessary for the airline to seek discharge from the bankruptcy court. Furthermore, the airline is current and in good standing with the County. RECOMMENDED BY: APPROVED BY: Ernie Padgett, County Administrator