[DoodleDawg]

Are all the other creditors only getting one-sixth of what they were owed?

[C. Edmund Wright]

What’s your point?

[circlecity]

"Are all the other creditors only getting one-sixth of what they were owed?"

According to the article, all the other unsecured ones are only getting the same thing. And most creditors don't requlire a city to put up collateral so I bet this would include the vast majority of the creditors.

[BunnySlippers]

Not all creditors are equal in the eyes of the law. Bankruptcy has several levels of creditors who have various rights.

[TexasGator]

“Are all the other creditors only getting one-sixth of what they were owed?”

From the posted article:

-the city plans to pay unsecured creditors, including the city’s pensioners, 16 cents on the dollar.-