Bankruptcy and bondholder rights, Financial Management

The holder of a corporate debt instrument is preferred to equity shareholders in the bankruptcy proceedings. However, secured/senior creditors are preferred to non-secured/junior creditors. Every country conducts its bankruptcy proceedings on the basis of its securities laws and contract laws that govern the rights of the bondholders, and the bankruptcy code in force.

Posted Date: 9/8/2012 7:00:02 AM | Location : United States

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