Originally Posted by
FriendlyPilot
No this is not true. They become a creditor just like anyone one. The secured notes are paid first, then employees up to a maximum amount of money per employee. Until the "senior secured notes" are fully repaid (about $2B) no employee wages would be paid.
CH7 would be bad for employees.
gotcha, always thought it was employees first. I wonder how or if they will pay unused sick or vacation?