AI
Sunday, April 14, 2019 12:25:27 AM
Thanks for posting that, I added some notes for clarification.
The net proceeds are distributed in this order:
1) Secured creditors ( Must be paid in full in order for others to get proceeds )
2) Priority unsecured creditors
3) Unsecured and Trade creditors
4) Equity holders (Common Shareholders)
Why did Mica Arlette and PWC make a settlement agreement with an unsecured creditor to pay $2000 to Park Avenue Of Wayzata INC...
In order for PWC to make a legally binding agreement they must anticipate another transaction where Secured Creditors are paid in full
Heres the Canadian Courts list of creditors and the US courts list of unsecured non-priority claims:
The net proceeds are distributed in this order:
1) Secured creditors ( Must be paid in full in order for others to get proceeds )
2) Priority unsecured creditors
3) Unsecured and Trade creditors
4) Equity holders (Common Shareholders)
Why did Mica Arlette and PWC make a settlement agreement with an unsecured creditor to pay $2000 to Park Avenue Of Wayzata INC...
In order for PWC to make a legally binding agreement they must anticipate another transaction where Secured Creditors are paid in full
Heres the Canadian Courts list of creditors and the US courts list of unsecured non-priority claims:
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
