Not Ranked
The money will go to the secured lenders then the unsecured creditors. Owners will not likely see anything (I am assuming they have filed chapter 7 or 11). The deal should be structured as an asset purchase. You get the name, drawings, jigs, proprietary knowledge etc., but that is it. The liabilities, potential litigation etc. go away. Bankruptcy is an ugly business - a lot of people get hurt and the lawyers and consultants make lots of $$.
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