Comments on: The dogs begin to bark, the hounds begin to howl http://polizeros.com/2008/08/07/the-dogs-begin-to-bark-the-hounds-begin-to-howl/ Musings on politics: anti-war, global warming, peak oil and otherwise Sat, 22 Nov 2008 08:38:13 +0000 http://wordpress.org/?v=2.6.1 By: Bob Morris http://polizeros.com/2008/08/07/the-dogs-begin-to-bark-the-hounds-begin-to-howl/#comment-154599 Bob Morris Fri, 08 Aug 2008 17:22:31 +0000 http://polizeros.com/?p=12326#comment-154599 Sue, who is a CPA just looked it up If bankruptcy, here's the order of who gets paid first 1) secured creditors 2) non-dischargeable (taxes, student loans, etc.) 3) unsecured creditors Bonds and preferred stock can be 1) or 3) depending if they were secured or not. Lawsuits are probably either 2.5) or 3). She says the order of who gets paid is complicated, and can depend on the jurisdiction. She says call the CT Attorney General (maybe they have a hotline about the lawsuit) and ask. Sue, who is a CPA just looked it up

If bankruptcy, here’s the order of who gets paid first

1) secured creditors
2) non-dischargeable (taxes, student loans, etc.)
3) unsecured creditors

Bonds and preferred stock can be 1) or 3) depending if they were secured or not.

Lawsuits are probably either 2.5) or 3). She says the order of who gets paid is complicated, and can depend on the jurisdiction.

She says call the CT Attorney General (maybe they have a hotline about the lawsuit) and ask.

]]> By: connecticut man1 http://polizeros.com/2008/08/07/the-dogs-begin-to-bark-the-hounds-begin-to-howl/#comment-154585 connecticut man1 Fri, 08 Aug 2008 02:23:35 +0000 http://polizeros.com/?p=12326#comment-154585 I think about all of the people that screwed in the Enron scandal because of big corporate creditors getting paid before stockholders did. (or something like that?) I can just imagine that the consumer would be last in line in the pecking order. I think about all of the people that screwed in the Enron scandal because of big corporate creditors getting paid before stockholders did. (or something like that?) I can just imagine that the consumer would be last in line in the pecking order.

]]> By: Bob Morris http://polizeros.com/2008/08/07/the-dogs-begin-to-bark-the-hounds-begin-to-howl/#comment-154579 Bob Morris Thu, 07 Aug 2008 20:27:52 +0000 http://polizeros.com/?p=12326#comment-154579 AFAIK, bondholders get first dibs followed by preferred stock. But whether or not lawsuits trump all of them I don't know. AFAIK, bondholders get first dibs followed by preferred stock. But whether or not lawsuits trump all of them I don’t know.

]]> By: connecticut man1 http://polizeros.com/2008/08/07/the-dogs-begin-to-bark-the-hounds-begin-to-howl/#comment-154574 connecticut man1 Thu, 07 Aug 2008 18:04:46 +0000 http://polizeros.com/?p=12326#comment-154574 If they do this, would BNY Mellon (and any others) get their money before any of the State lawsuits? If they do this, would BNY Mellon (and any others) get their money before any of the State lawsuits?

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