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The official order is:
1.) Court fees and taxes - if the company hadn't paid taxes since 2001, then this could be substantial.
2.) Secured creditors - namely our chief lender, GMAC, whom we owe around $30 million. Also technically includes the two people named in the suit, who each "loaned" the company $5 million at some point in the book-cooking.
3.) Employees
4.) Unsecured creditors - namely, everyone we ever did business with.
The thing is, this is all just guidelines for the judge. In reality, they can do whatever they want, and there have been many cases in the past where a large creditor, like a bank, had to take a half a million less of whatever they were getting just so that all the employees could get paid. Or at least that's what the trustee tells us.
But you're right, I'm not ever expecting to see that money again. It would just be like winning the lottery if I ever do get a check in the mail from the court.
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