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Chicken, thanks…Now I get it. I think the govt. might step in to try to keep GM afloat. And yes, I am looking FOR Sue 🙂 Now that I’ve secured the job, I just need a woman!
Dave, I don’t do criminal! I told my family a long time ago, if you get arrested, forget my number! I don’t make prison visits and I don’t take collect calls 🙂
“The main question is whether the US government will trample on bondholder rights.”
How so, Chicken?
Posted by: InsertSnappyNameHere at May 29, 2009 10:11 AM
If a bond is not paid out on, the bondholder can petition for the company to be liquidated. The assets (land, building, stock, etc) are sold by the liquidator and the proceeds are used to repay the various parties. There is a clear order of priority for repayment and each level gets paid out in full before the next level.
The US government may force the bondholders to accept equity or not allow the petitioning. Either of these is a clear violation of company law.
Chicken, thanks…Now I get it. I think the govt. might step in to try to keep GM afloat. And yes, I am looking FOR Sue 🙂 Now that I’ve secured the job, I just need a woman!
Dave, I don’t do criminal! I told my family a long time ago, if you get arrested, forget my number! I don’t make prison visits and I don’t take collect calls 🙂
Thanks THL!
Snappy’s not looking TO sue, she’s looking FOR Sue!
HELL
.
F*CKIN
.
YEAH
.
SNAPPY!!!!
That is so awesome! I couldn’t be happier for you.
(god, it’s gonna suck big time without you hanging about though)
I didn’t know whether you were a criminal lawyer or a civil lawyer.
Who are you suing Dave?
“The main question is whether the US government will trample on bondholder rights.”
How so, Chicken?
Posted by: InsertSnappyNameHere at May 29, 2009 10:11 AM
If a bond is not paid out on, the bondholder can petition for the company to be liquidated. The assets (land, building, stock, etc) are sold by the liquidator and the proceeds are used to repay the various parties. There is a clear order of priority for repayment and each level gets paid out in full before the next level.
The US government may force the bondholders to accept equity or not allow the petitioning. Either of these is a clear violation of company law.
Snappy…what kind of court cases do you take???