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Note the term “want to”. Obviously they want to. The question is, does anyone want to buy it at that. This is also senior debt (they’re holding onto the junior
by rsynnott 2y ago
Note the term “want to”. Obviously they want to. The question is, does anyone want to buy it at that.
This is also senior debt (they’re holding onto the junior debt); if when a company is bankrupted there’s a billion in assets, 900 million in senior debt, and 10 billion in junior debt, then the holders of the senior debt are paid off in full, and the holders of the junior debt get one cent on the dollar.
Well, that’s the theory; in practice what happens is that everyone goes to court, forever.