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Politics : The Obama - Clinton Disaster
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To: longnshort who wrote (11839)4/24/2009 1:01:37 PM
From: DuckTapeSunroof  Read Replies (1) of 103300
 
Retiree health and pension claims are senior to debt anyway, I believe.

So they'll come high in line in a bankruptcy (after tax obligations and vendor liens though).

That's not unusual. Contractual obligations to employees are just as valid as contractual obligations to bondholders and anyone else in a bankruptcy setting.
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