They get first dibs, ahead of general creditors, on the reserves.

FORBES: Safety in Numbers

Please be advised that Pandigital, Inc (the 'Company'), executed a General Assignment for the benefit of its creditors in favor of Credit Management Association on July 13, 2012 (the 'General Assignment').

ENGADGET: Tablet maker Pandigital no longer offering warranty replacements, reminds us it's now out of business

Should the federal government, acting on be-half not only of stockholders and creditors but of the general public as well, force its own accounting standards on business?

FORBES: Why Everybody's Jumping On The Accountants These Days

Under the reorganization plan, secured bank debt incurred before the bankruptcy as well as unsecured bond debt and certain general unsecured claims will be cancelled with those creditors receiving equity in the reorganized company.

WSJ: Bankruptcy judge close to granting Beechcraft plan

Western creditors and investors should steer clear of general purpose, balance-of- payments lending.

CENTERFORSECURITYPOLICY: Center For Security Policy

Although Greeks are set to hold a general strike on Thursday, the Athens government and its international creditors are said to have reached a deal on the austerity measures needed before the next bailout instalment is handed over.

BBC: Germany's Schaeuble pushes EU economic union

Unlike the bail-out approach, the bail-in method is much closer to what is observed in a true bankruptcy proceeding: the petitioner is insolvent, so haircuts of some magnitude must be suffered by the relevant creditors, but no haircuts at all are imposed on the general public, which stands outside the courtroom and is not a party to the case at hand.

FORBES: Bankruptcies, Bail-Outs & Bail-Ins: The Good, Bad & Ugly Of Bank Failure Resolution

More recently, creditors howled that their rights were trampled in the government bailouts of General Motors and Chrysler.

FORBES: Investors, Beware A Bad Day In Court