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To: Anthony@Pacific who wrote (2303)8/10/1999 10:22:00 PM
From: LPS5  Respond to of 2693
 
As usual, Anthony is right. The usual priority list for who gets paid out goes a little somethin' like this:

1. Secured creditors (pledged loans secured by a particular asset(s), usually specified in the bond indenture and approved by the trustee)

2. General creditors (pledged loans, but not secured by any asset in particular)

3. Preferred stock shareholders

4. Common stock shareholders

LPS5



To: Anthony@Pacific who wrote (2303)8/11/1999 7:48:00 AM
From: CMon  Read Replies (1) | Respond to of 2693
 
Not true, Anthony. In a liquidation that's the case, but that's not what we're talking about here.


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