[Cold Warrior]

'Social distancing': how a 1950s phrase came to dominate 2020



Originally, it meant separation of social classes.

[OmegaSupreme]

Originally Posted by Mariza160

...
I don't want to make this political but you can look at several current multimillionaire/billionaires
who have used this strategy to shift their debt to someone else.

Granted , I am not familiar at all with Chapter 15 rules and was speaking above about chapter 11 and 7.

Trump's businesses filed chapter 11 bankruptcies six times

I think it will be in his next book, "How I fleeced America, Again and Again"

[Svoboda]

Originally Posted by Cold Warrior

Still doesn't create wealth.

Would you prefer the term wealth redistribution?

[xofruitcake]

Originally Posted by Svoboda

Would you prefer the term wealth redistribution?

In a chapter 11 proceeding, there is a cram down process. Shareholders most likely loss all their money. Bond holder most likely loss a big chunk of their money and become part of the new owner group for the new company after it emerge from bankruptcy proceeding. New shareholder and new bond holder can buy into and lend money to the now emerged company. The one that make money off of a bankruptcy most of the time is the management who most likely retain their position in the new company and get stock option after doing a bad job the first time. Someone can make money in bankruptcy but not the original shareholder.


https://www.burnsbankruptcyfirm.com/...nkruptcy-cram/

[Svoboda]

Originally Posted by xofruitcake

In a chapter 11 proceeding, there is a cram down process. Shareholders most likely loss all their money. Bond holder most likely loss a big chunk of their money and become part of the new owner group for the new company after it emerge from bankruptcy proceeding. New shareholder and new bond holder can buy into and lend money to the now emerged company. The one that make money off of a bankruptcy most of the time is the management who most likely retain their position in the new company and get stock option after doing a bad job the first time. Someone can make money in bankruptcy but not the original shareholder.

https://www.burnsbankruptcyfirm.com/...nkruptcy-cram/

How much did Guy Laliberte walk away with in 2012?

[robr2]

Originally Posted by Svoboda

How much did Guy Laliberte walk away with in 2012?

In 2015 - $1.5 billion.