In a liquidation the common stock holders get nothing until all claims are paid. Who are the biggest creditors to Hostess? I will bet you dollars to donettes

In a liquidation the common stock holders get nothing until all claims are paid. Who are the biggest creditors to Hostess? I will bet you dollars to donettes that Ripplewood holdings is somehow a creditor and not a stockholder. The money from the sale of the valuable brand names will surely flow to them; someone will start making Wonder bread and Twinkees free of legacy union liabilities; and the share of national income that flows to working people will notch down again.