/biz/ - Business & Finance

Wtf is a fulcrum security? And what is the fulcrum security in the case of BBBY?
For the definition see pic rel.
In other words, the fulcrum security is determined on a case by case basis. We can figure out what is the fulcrum security by the process of elimination. The fulcrum will be the Class (through 1-6) that the debtor does NOT have collateral to pay off. Since there is no cash to satisfy this class, it will instead be given equity in exchange for its debt.

But, anon wtf is the fulcrum security in regards to BBBY? We can figure that out by looking at the confirmed plans expected recoveries.