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by iudqnolq
1470 days ago
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Yes, I got that wrong. Absent bankruptcy, fiduciary duty to shareholders is prioritized over creditor's interests. In bankruptcy, customers will be screwed over to benefit the other creditors, not to benefit the shareholders as I mistakenly said. |
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No, this is still wrong. Shareholders are not prioritized over creditors, at any time. Shareholders are the least important stakeholders in a corporation, because by virtue of their limited investment, they have the least at risk.