From my understanding Bankruptcy administration laws allow a reach back to those creditors that were paid most recent to the company going defunct for a return of payments made to them by the defunct company–if they received these payments within a short timeframe before the company went into Bankruptcy (sort of like the LIFO method of accounting, Last- in, First-out). These returned payments become new monies available to be put back into the pot for redistribution to creditors in the bankruptcy-approved priority order.
You are a dolt, not a dote. Remember, there are no stupid questions, just stupid people asking them. (Just a joke for those of you who are overly sensitive)
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Does anyone think it’s a coincidence that “a dolt” and “adult” sound frighteningly similar?
My teenage son pointed that out to me not so long ago… Oh the joys of these teen years… NOT.
I hate to be the dote here, but can someone explain what this means? Enron is getting money back?
From my understanding Bankruptcy administration laws allow a reach back to those creditors that were paid most recent to the company going defunct for a return of payments made to them by the defunct company–if they received these payments within a short timeframe before the company went into Bankruptcy (sort of like the LIFO method of accounting, Last- in, First-out). These returned payments become new monies available to be put back into the pot for redistribution to creditors in the bankruptcy-approved priority order.
Thanks Rina, that makes sense now.
You are a dolt, not a dote. Remember, there are no stupid questions, just stupid people asking them. (Just a joke for those of you who are overly sensitive)