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While there is some change in liquidation preference, O'Shaughnessy wrote that it shouldn't change the value of employee stock too much, and that if the company goes public, employees shouldn't be affected.
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A panel of General Media's creditors asked Judge Stuart M. Bernstein of United States Bankruptcy Court in Manhattan to change the case to Chapter 7, which results in liquidation, from Chapter 11, which provides for reorganization.
"This change will ensure that fewer good companies end up in liquidation – and less people lose their jobs," he will say.
A source tells us this amounts to a change in the share conversion rate upon a liquidation event.
(Pets.com is in liquidation).
"Today, the chain is in liquidation.
Also, as you are aware, Tullett Brown is now in liquidation.
"We're running the planet like a company in liquidation," the former US vice-president Al Gore told an audience at the Hay festival, in an impassioned plea to act on climate change before it is too late.
The Treasury ministry, its sole shareholder, will place the corporation in liquidation on June 28th.About time, too.
b Increase in liquidation costs of local supervisor.
The product is essentially worthless, except in liquidation".
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