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0 pointsjahewson2y ago0 comments

I get your point but to free up cash for the employees he’d have to bail out all the other creditors first. Not a good precedent to set.

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2 comments · 1 top-level

nilram2y ago· 1 in thread

Under US bankruptcy law, cash first goes to employees, then creditors (including contractors), then owners.

pests2y ago

Yep, that is how the law works. In this case cash is going to the creditors. Employees aren't owed anything, then the next in line are the creditors.

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