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Politics : The Obama - Clinton Disaster
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To: longnshort who wrote (26291)2/17/2010 2:54:44 PM
From: DuckTapeSunroof  Read Replies (2) of 103300
 
Some were holders of secured debt and some where holders of unsecured debt.

(But, under American bankruptcy law for corporations, where the primary GOAL is the crafting of a new and vigorous company that will be viable after bankruptcy reorganization, and not simply the repayment of debts incurred by the old company such as old European law mostly covered, the 'Debtor in Possession' attains a very influential position with the court.)
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