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To: yarddog

Yes, Chapter 11 and bounced paychecks don’t add up.

Domestic support obligations (a coal mining corporation shouldn’t have any of those

Administrative expenses

Certain post filing/pre order expenses in an involuntary bankruptcy (which this doesn’t appear to be)

Up to $10k in unpaid pre-filing wages for work within 6 months prior to the filing (which should cover this case).

Everything else that is unsecured.

So the only way the workers don’t get their money is if the court lets the lawyers and bosses suck everything out of the estate and then convert it to a Chapter 7.

The land and most of the equipment is probably subject to liens.


14 posted on 07/23/2019 3:15:34 PM PDT by PAR35
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To: PAR35

Where do taxes fit in?


20 posted on 07/23/2019 3:29:14 PM PDT by yarddog
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