Bankruptcy – Plan Confirmation – Debtor Classes – Same Priority – Different InterestsIn re Sea Trail Corp. Even though the claims in Classes 14 and 15 are both unsecured, they may be treated differently since Class 14 consists of the claims of trade creditors who are interested in an expeditious recovery while Class 15 is made up of claims arising from shareholder loans, and those creditors are willing to retain assets for a longer time in an effort to maximize their recovery.
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Published: November 5, 2012
Time posted: 10:18 am