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Monday, March 19, 2012 12:30:42 AM
Example (keeping it simple):
If a senior get $100 and a sub bond gets $100, then that distribution to the sub bond is reallocated to the senior which now has $200.
Have you head of that song:
Jack and Jill, went up the hill.
Each with a buck and a quarter, Jill came back with $2.50.
What a working girl, now work it girl.
Jill is the senior creditor.
You should discuss this with your attorney friend you mentioned. Make sure he understands bankruptcy.
imo
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