Earlier quoted context omitted.
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You've just decided, all by yourself, that customers are "low priority people." Why?
The law specifies the order people get paid out for a bankruptcy.
Spirit Airlines Is Winding Down All Operations
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Re: Spirit Airlines Is Winding Down All Operations
#22This process may seem ugly, but just like biological death is necessary for an ecosystem, this sort of death/restructuring is essential for capitalist economies. Assets and capital get reallocated to better uses. It's all part of the circle of life.
Sure, for those not affected by these capitalist decisions, left stranded in the middle of nowhere, or having to look for a new job, while the owner party at their coffy houses.
Re: Spirit Airlines Is Winding Down All Operations
#23Re: Spirit Airlines Is Winding Down All Operations
#24Re: Spirit Airlines Is Winding Down All Operations
#25This process may seem ugly, but just like biological death is necessary for an ecosystem, this sort of death/restructuring is essential for capitalist economies. Assets and capital get reallocated to better uses. It's all part of the circle of life.
That sounds more like religious dogma than thought out argument.
The capital will probably go to further the AI bubble, I really don't see how that would be more useful than enabling travel.
Re: Spirit Airlines Is Winding Down All Operations
#26Re: Spirit Airlines Is Winding Down All Operations
#27[flagged]
I’m no expert, but a bit of googling tells us.
The laws around bankruptcy define the priority of who gets paid and in what order:
- Secured Claims
- Unsecured Priority Claims
- Unsecured Non-Priority Claims (General Unsecured)
- Equity Security Interests
Each layer has to be paid in full before the next layer.
Unsecured Priority Claims - this includes customers who have paid for services.
Re: Spirit Airlines Is Winding Down All Operations
#28Re: Spirit Airlines Is Winding Down All Operations
#29Re: Spirit Airlines Is Winding Down All Operations
#30[flagged]
I’m no expert, but a bit of googling tells us. The laws around bankruptcy define the priority of who gets paid and in what order: - Secured Claims - Unsecured Priority Claims - Unsecured Non-Priority Claims (General Unsecured) - Equity Security Interests Each layer has to be paid in full before the next layer. Unsecured Priority Claims - this includes customers who have paid for services.
Also with secured claims. What are they secured against? That is what is the collateral defined. If it is not cash... Well they will get their claims when collateral is liquidated.