From: stephen@sprunk.org

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.

S

--
Stephen Sprunk         "God does not play dice."  --Albert Einstein
CCIE #3723         "God is an inveterate gambler, and He throws the
K5SSS        dice at every possible opportunity." --Stephen Hawking

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