From: ahk@chinet.com

Stephen Sprunk  wrote:
>On 22-Aug-14 11:20, Adam H. Kerman wrote:

>>>While the actually responsible pondscum will take their golden
>>>parachute and get away with it.

>>A golden parachute from a bankrupt company? Uh, no.

>Bankruptcy means the company has decided to ask a court to allow it to
>not pay some of its debts because it is insolvent, but that doesn't mean
>the company has no cash or is unable to pay _any_ of its debts.  Wages
>(including contracted bonuses) are relatively high on the priority list
>of debts for bankruptcy courts, unlike pension benefits that are near
>the bottom of the list.

Again: Stephen's reading comprehension problem rears its ugly head.
Golden parachute payment is neither wages nor bonus nor pension. Golden
parachute payment is quite the opposite of a bonus. In fact, the CEO gets
paid to go away and go make some other company fail.

You're going to have cite chapter and verse of Canadian bankruptcy law
to make the point that MM&A's top people were entitled to bankruptcy
protection of the golden parachute payments if you insist I'm wrong.

And don't ever quote without retaining applicable attribution lines.

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