This is what another person alluded to the other day. Over 50 pages of information regarding full details on the bankruptcy.
Enjoy!!!
https://www.sec.gov/ix?doc=/Archives/edgar/data/931336/000095010319015638/dp115992_8k.htm
6 replies (most recent on top)
Corporate America baby. Doesn't get more unethical than that...
So, if this is the case, how in the heck did the new CEO and his henchmen, get early bonuses amounting to millions of dollars for some?
Once sales start happening, banks that put up money to keep Dean Foods operating after filing Chapter 11 will get paid first, then the banks that were owned money prior to the filing, then all the countless companies that are owned money for goods and services, then the bond holders, and finally anything left will be for pension plans, shareholders, and employees. Attorneys and the executives will get their cut at each phase as well. In other words, don't expect severance or any further pension contributions after the sale if you're an employee and don't expect anything if you're a shareholder. Also wouldn't surprise me if the only ones who get anything are the banks, lawyers, and execs. Bond holders are going to fight to try and get something, but I think they're over estimating the value of everything. It's not like any company is going to pay full appraised price for anything.
Means that the line is very long before you or stockholders get a piece of the pie in a sale.
Somebody respond with what does this mean with 7 lenders then what's going to happen
WOW!!!
Not 1 main lender. Not 2. But, every employee works for SEVEN lenders on this agreement.