XM/Sirius Bankruptcy
#3
Re: XM/Sirius Bankruptcy
Chap 11 bankruptcy means they will negotiate with their creditors to seek different terms on the amounts they owe the creditors. It also means they reorganize, and usually new/different management takes over.
As a subscriber, paying say $10-20 per month, I'd guess you're a regular and common customer (not a formal legal definition). If you pre-pay for a subscription, say for a year, I wonder if that is treated any differently?
As a subscriber, paying say $10-20 per month, I'd guess you're a regular and common customer (not a formal legal definition). If you pre-pay for a subscription, say for a year, I wonder if that is treated any differently?
#4
Re: XM/Sirius Bankruptcy
I wonder if this is how they break the contract with Howard Stern??? If you paid with a credit card, you may have some charge-back opportunity if they cease service.
I'm guessing if they go chapter 7 or 11, the stockholders will hold worthless shares - everyone else will get theirs before the investors.
I'm guessing if they go chapter 7 or 11, the stockholders will hold worthless shares - everyone else will get theirs before the investors.
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