Top-Ranking Lenders See Diminishing Recoveries in Bankruptcy
Wall Street Journal
Top-ranking lenders continue to get less of their money back when companies go bankrupt as many firms head into chapter 11 with less junior debt to absorb the pain, and as aggressive debt restructurings can change who gets repaid first.
https://www.wsj.com/articles/top-ranking-lenders-see-diminishing-recoveries-in-bankruptcy-653af97e