World Food Company
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Their assets are bought for money by a court docket appointed trustee. Administrative and legal bills are paid first, and the rest goes to creditors. Secured creditors may have their collateral returned to them. If the worth of the collateral is not adequate to repay them in full, they will be grouped with other unsecured creditors for the rest of their claim. Bondholders, and different unsecured collectors, will be notified of the Chapter 7, and will file a declare in case there’s cash left for them to receive a cost.
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