Unsecured creditors would receive less than $500 million of the company's total value.
It becomes your proof of the date the creditor received the letter.
Tel's creditors, could receive anywhere from nothing to $255 million.
Under the plan the creditors would have received about 50 cents on the dollar.
His creditors could thus receive as little as two percent of what he owes them.
The unsecured creditors would receive about $80 million in total.
The company has stated that its creditors would receive at least 100 percent of the amount owed to them.
Under the plan, Continental's creditors would receive a share of the equity in the airline.
The creditor will receive money back with interest over time (usually in payments made each month by the debtor).
There may not even be a dividend in certain instance, thus no creditor receives any payment.