On Wed, 30 Jul 2008 19:16:38 GMT, "l, not -l" > wrote:

>
>On 30-Jul-2008, aem > wrote:
>
>> On Jul 30, 6:20*am, Andy <q> wrote:
>> > It's just bothers me to no end that Bennigan's didn't give the employees
>> > advanced notice. Now, overnight they have to scramble to get on a new
>> > payroll somewhere else, FAST.
>> >
>> It's normal, afaik, for lawyers to tell management to keep news of a
>> planned bankruptcy filing confidential. Even more so when it's a part
>> of a publicly traded company. -aem
>
>Unless the business is reorganizing, why would you go to work once you know
>they are entering bankruptcy - at that point you are just another unpaid
>creditor, who must wait in line for pennies on the dollar, if anything.

According to the DH, who is a bankruptcy lawyer, sez that wages get
paid ahead of the creditors, BUT that it would take maybe 3 years to
get your wages IF then. Typically, everything is hocked to the hilt,
including kitchen gear which has zip resale value. And you can't touch
the parent corporation, as it is the subsidiary that filed the 7.

Terry "Squeaks" Pulliam Burd
--
"If the soup had been as hot as the claret, if the claret had been as
old as the bird, and if the bird's breasts had been as full as the
waitress's, it would have been a very good dinner."

-- Duncan Hines

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