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I-Glow

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I-Glow

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Re: ErnieBilco post# 1342

Friday, 12/23/2016 2:28:58 PM

Friday, December 23, 2016 2:28:58 PM

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In terms of priority in the US Bankruptcy Laws - common shareholders are the lowest priority - it goes:

1. The Government/IRS

2. Secured creditors

3. Unsecured Creditors

4. Preferred Shareholders

5. Common Shareholders

If any class Class above the Common shareholders are impaired then the common or Equity Interest is impaired.

And as you stated you can't impair part of the Common shares and leave others intact.

It should clearly state in the POR what the fate of the common shares will be.

IG

"Are you gonna pull those pistols or whistle Dixie?"

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