Three pen holders.

And the equity holders get wiped out, the old equity holders.

It's the debt holders.

Equity holders, they kind of took a gamble.

And if there wasn't enough money to pay all of the debt holders, then the equity holders got nothing.

And we learned that the debt holders were actually more senior to the equity holders.

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The backbone of making investment decisions for global holders of capital.

It couldn't pay it's debt holders.

It would penalize the equity holders.

And pays off the liability holders.

I mean, they're just place holders.

But that's the view from the debt holders' point of view.

So the equity holders are actually the owners of the company.

While many loudly thought of themself being the World Cup holders of tomorrow,

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And essentially, the debt holders become the new shareholders of the company.

A record of misdeeds written.

There's no record of that.

Well, it's the debt holders get first dibs.

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And also, a lot of the equity holders are the management of the company.

So some of the cash will go to the debt holders as interest.

So let's say these are debt holders right here.

There might be different debt holders who have different

And in this case the equity holders get nothing.

And it's also going to benefit the bond holders.

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A record of good deeds written.

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Just shy of the school record.

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Military record?