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So-called "senior" creditors claim priority in all of the value, and control over all of the cash.
(The government says, in effect, that the cost of repayment is too steep, though Elliott and other creditors claim otherwise).
The creditors claim the banks enabled the looting of the money from Adelphia, which is now bankrupt.
But Bayou's creditors claim that Goldman should have realized something was amiss, and argue that Goldman did nothing to investigate various warning signs.
In effect, they are accusing Mr Hicks of selling them short by undervaluing the Rangers.Moreover, the creditors claim that Mr Greenberg was not the highest bidder for the club, but that MLB encouraged a sale to him anyway.
Some bondholders of the Tribune Company are seeking permission from a federal bankruptcy judge to investigate the company's sale in 2007 to the billionaire investor Samuel Zell, a deal creditors claim led to a bankruptcy filing a year later.
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Orderly liquidation of debtor's assets to ensure creditors' claims are covered by priority.
The shareholders could recover up to 37percentt if creditors' claims are paid in full.
PwC is still sorting through creditors' claims on MG Rover's remaining assets.
Such fees, which can be substantial, are paid before creditors' claims are settled.
And in some states, an innocent misstep could leave retirement assets vulnerable to creditors' claims.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com