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Honored Contributor
Posts: 79,756
Registered: ‎03-10-2010

@spabar.  Wasn't Antonella's prophesy about 2 or 3 years ago?  Yes, it was safe to say Rick would retire.

New Mexico☀️Land Of Enchantment
Honored Contributor
Posts: 8,255
Registered: ‎06-09-2010

Re: Rick Retiring

[ Edited ]

@Tori3569 wrote:

I feel like I have to post this almost daily.  Way too much misinformation 

 

IMG_4434.jpeg


@Tori3569  I know you keep posting this information but their Chapter 11 Reorganization has not been finalized. The fly in the ointment is the preferred shareholders that are not going along with their plan. This is a big stumbling block..They could force them into a Chapter 7. So until they get all their ducks in order nothing  is written in concrete.

 

Originally ~90 days, but the plan is contested by preferred shareholders, the U.S. Trustee, and some equity holders over treatment of QVC Group, Inc. preferred stock.

 

Bottom Line: QVC’s Chapter 11 is not yet finalized— the plan is still under court review and confirmation is pending.

Honored Contributor
Posts: 8,170
Registered: ‎06-29-2016

Re: Rick Retiring

[ Edited ]

The Bankruptcy Code rules for Chapter 11 provide for the security of a corporate 401k.

 

These are not considered assets of the debtors and may not be claimed by a creditor. 

 

Of course a company could reduce or eliminate its contribution going forward,  but otherwise existing assets are secure from claims.

 

 

Code Text Chapter 11:

 

If the retirement funds are in a retirement fund that has received a favorable determination under section 7805 of the Internal Revenue Code of 1986 and that determination is in effect as of the date of the filing of the petition in a case under this title, those funds shall be presumed to be exempt from the estate
Honored Contributor
Posts: 8,170
Registered: ‎06-29-2016

Re: Rick Retiring

[ Edited ]

Additionally, @Tori3569 is correct. 

 

The debtors, QVC Group and affiliates filed First Day Motions to continue payment of various daily operating expenses including employee payroll and benefits. 

 

Shortly after, the Judge entered an order granting the motion,  which allows payment of day-to-day expenses.

 

All First Day Motions and First Day Orders are available on the Case Docket for everyone to read and review, but here's the pertinent section:

 

 

Order Entered April 17, 2026

 

it is Hereby Ordered that:

 

"Debtors are authorized to pay and honor pre-petition and post-petition amounts related to Compensation and Benefits programs incurred in the ordinary course of business."

Valued Contributor
Posts: 738
Registered: ‎06-29-2017

Rick was somewhat frenetic in his early years but he's mellowed and matured into a multi-faceted, enjoyable host. He also appears to be a devoted family man which is A+ in my book.  If it's true, I'll miss him.

Trusted Contributor
Posts: 1,839
Registered: ‎12-12-2014

 

 

He will probably come back as a vendor within 2 to 3 months. They all end up coming back. Lisa Robertson was the only rare exception 

Honored Contributor
Posts: 16,470
Registered: ‎10-09-2012

Re: Rick Retiring

[ Edited ]

Dan Hughes and Jacque Gonzales didn't come back either.

Honored Contributor
Posts: 10,574
Registered: ‎07-12-2011

David is usually pretty forthcoming. Maybe he will speak to this on his Coffee Talk this morning.

Honored Contributor
Posts: 10,557
Registered: ‎03-09-2010

Just because someone has reached the age of retirement doesn't mean that's what they plan to do.

Trusted Contributor
Posts: 1,839
Registered: ‎12-12-2014

 

 

Dan Hughes and Jacque Gonzales were FIRED. Of course a fired host might not be back.the difference is Lisa had money and capital after she left the Q. She didnt know what ahe was going to do but shes a smart savvy woman. Shes made millions and is a SD made millionaire