mbow30
Spudmeister Supreme
Ah ha, ok, got it. Thanks.
At least in Canada (under our chapter 11 equivalent) priority in insolvency is first ranking / secured debt, unsecured debt and then equity.
its a court monitored process and can leave equity empty handed if there’s nothing left over after the creditors are satisfied.
I worked for a company that assisted them in auctioning the cars. A lot of profit in doing so.
Sounds like the others have buy backs with manufacturers for their owned fleet rather than relying on auctions. Less flex but not subject to market factors. I’m assuming hertz adds to the mix moving forward.