Any post filing expenses incurred (i.e. new contracts or payments due current service providers for services provided after filing) must be approved by the court and then they are given the highest priority for payment, even above secured interests in the bankrupt entity. -vb ----- Original Message ----- From: "Leo Bicknell" <bicknell@ufp.org> To: <nanog@merit.edu> Sent: Monday, June 04, 2001 8:51 PM Subject: Re: C&W Peering
On Mon, Jun 04, 2001 at 07:55:14PM -0400, Christopher A. Woodfield wrote:
I think PSI is going to have to get itself some transit, and quickly.
I know almost nothing about bankruptcy, so I would love for someone who does to comment. Put simply, if a company can't pay its creditors and suppliers do they have any chance of entering into a new purchase agreement? I know that I personally wouldn't offer them Net-30 payment terms right now.
-- Leo Bicknell - bicknell@ufp.org Systems Engineer - Internetworking Engineer - CCIE 3440 Read TMBG List - tmbg-list-request@tmbg.org, www.tmbg.org