Quote:
Originally Posted by Shaggy
That's my understanding as well, but I'm not an expert. I think that it works such that those with the biggest claims get first dibs. IE the manufacturers and suppliers that they owed millions to will get paid before they start sending out money to individual customers. I'm not sure if that's a US thing, or if it's similar over there as well.
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I don't think it works that way over here. All "standard" claimaints are treated equally, I think. I.e. if there's 10 million in claims and 2 million to go around, each gets 20% of his claim.
That wouldn't be an unusual percentage, as a good number of parties have special, preferential claims:
- Banks financing a firm will usually have contractual claims on specific high value assets, such as real estate, machinery or even intellectual property. The bank gets to own and sell such assests.
- Suppliers usually have a provision in their contracts that ownership doesn't pass on until the bill is paid. So unused supplies will likely be collected again by them (same as you'll collect your device, which isn't iRex's either).
- If the payment is behind on the wages of the work force, our government will take care of that, and probably gets to claim that back before other creditors get a shot
- The internal revenue service comes before other creditors. Usually when a company goes bankrupt it is a good bit behind on paying its taxes
So, by the time they get around to you and other non-preferential claims, there's probably not a awful lot to go around anymore. But, as you have to write in anyway to get your ereader back, you might as well state your claim.