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Old 12-01-2012, 02:58 PM   #244
Mosbonian Mosbonian is offline
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Join Date: Aug 2000
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Originally Posted by patteeu View Post
Yeah, that definitely sucks, but that happens in bankruptcy situations. If they don't keep people around to wind up the business, even fewer of the creditors will get paid because the liquidation will be less likely to get top dollar.
In bankruptcy the only people to truly get paid are:

Secured Creditors
CPA/Accountants hired for Forensic Account purposes
Employees who wind down the business
"Experts" in bankruptcy wind-down operations (Usually these are the experts who know how to maximize value of the bankruptcy estate)

Everyone else takes a haircut....some get a slight trim, others get it all taken off the top.
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