CompuServe Messages

In a liquidation, surely there wouldn't be anything left of the company for the stockholders _to_ own. Liquidation means just that … the company doesn't exist any more and "everything must go" in the asset sale. Surely the creditors would then get first bash of the cash pool left after the liquidation and then any residual balance (if there is any) would end up in the hands of the stockholders. That was my understanding.