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Gold/Mining/Energy : ATPG Shareholders
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To: billgatesisevil who wrote (141)8/29/2012 10:36:03 AM
From: mrpanick  Read Replies (1) of 3620
 
Not exactly. The DIP typically gets refinanced when they emerge from bankruptcy. The lawyers get paid using the company's cash on hand (including cash from the DIP). The bankruptcy will probably drag on for a couple of years. Once the court approves lawyers to represent an EQ, the company pays them monthly (subject to court approval). The lawyers get paid first - before bondholders, stockholders, some vendors, other creditors or even the DIP.
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