ST Alpha - "in bankruptcy, unless you're a secured creditor, the trustee don't give a good damn" (Reading a Post)

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In response to "The union would lose their minds if his contract wasn't paid in full. " by Krusty

in bankruptcy, unless you're a secured creditor, the trustee don't give a good damn

Posted by sideways pixie (aka chris) May 24 '10, 16:15

but the worst-case scenario is a liquidation, where you just get paid out of the estate pot pro rata

i'm assuming this is chapter 11 reorg, which would probably mean he'll keep getting paid something

Responses:

Yes, chapter 11. -- nm - Krusty May 24, 16:41 2
- reading a yahoo article, it sounds like the team is striking some kind of deal to pay off the Ranger's creditors 100 cents on the dollar - sideways pixie May 24, 16:43 1
  - I knew there was a reason, I just couldn't remember it to post here. - Krusty May 24, 16:50

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in bankruptcy, unless you're a secured creditor, the trustee don't give a good damn

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