Tuco distributions "best case scenario is the end of May"

Discussion in 'Prop Firms' started by Daal, May 5, 2008.

  1. jazzsax

    jazzsax

    Go and read up on bankruptcies and dissolution procedures. Unless things are in writing defining who gets paid in what order, that's the standard. Secured Creditors first (including ultra secured ahead of others, ie, government), then Unsecured.

    There is nothing that says one unsecured creditor should get paid before another, the rules are there to imply fairness, otherwise you'll all never get your money. Hence, once the amount available for distribution is determined, it's pro-rate unless there were agreements in place already indicating the percentages to go to individuals. No unsecured creditor is more important than another.

    No, I'm no speculating either.
     
    #11     May 7, 2008