The junior creditor normally takes the hit. Is that laughable? It would be the case under VA.
As an aside. The write downs taken by BBI EPS Ltd do appear over the top. I notice that Duet hasn't taken the same write downs on MultiNet and DTBP. Just a little curious.
bbi eps structural seniority to corp debt, page-3
Add to My Watchlist
What is My Watchlist?