Replies to post #3013 on Firstgold Corp (fka FGOCQ)

[sidedraft]

Unsecured creditors are creditor. What they are owed is called debt.

What shares do the unsecured creditors hold?

[hotmeat]

Sorry but that statement is incorrect. Shareholders are classified as equity not unsecured creditors. The unsecured debt if any must be paid off before any money goes to shareholders.
I just want to clarify all this before i take a position here. I did check the case on pacer but found no reference to unsecured debt but wanted to ensure i didn't miss anything.
As to my question, the info can be referenced from the wam_q or qsg_q cases where the unsecured creditors are shown to be a separate entity from equity.