Correction: X only has $100. How is it divided across 1, 2, and 3?
How are different types of claims paid out in bankruptcy? Company X commits fraud. 1) US government has an SEC claim against X for $100 2) Investors have a claim against X for $200 3) Bank has a claim against X for $100 A only has $100. How is it divided across 1, 2, and 3?
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fuck. Thanks.
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Legal claims first. Lender next. Investors last. Government should get $100.
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But lender and investor claims are legal claims?
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