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View Diary: "Freedom" to socialize the losses: chemical company declares bankruptcy (229 comments)

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  •  That assumes such liens exist. (1+ / 0-)
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    Eyesbright

    I don't know that they exist at this point.  

    We should also remember that the "other creditors" who will have to get in line behind the IRS and the EPA (if applicable) will be all of the individuals injured by this spill.  They'll be reduced to asserting claims against the bankrupt estate, and any actions they file in court will naturally be stayed pending resolution of the bankruptcy proceedings.

    Not a good situation for anyone, really, except maybe the crooks that run this company.

    "Ça c'est une chanson que j'aurais vraiment aimé ne pas avoir écrite." -- Barbara

    by FogCityJohn on Fri Jan 17, 2014 at 01:07:13 PM PST

    [ Parent ]

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