What will happen to my $25,000.00 bond (CBOEU2) in General Motors if they go Bankrupt?

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TeachMeMore answered a question in General Market.
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TeachMeMore answered 7 months ago …

Luckily for bond holders, unlike stock holders, you would be paid back first during any type of bankruptcy proceedings. However, what would likely happen is that you'd either be A) paid back at a reduced rate or B) your debt would be exchanged for equity (at a much lower price).

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