easy · Investment Banking rx-dcm-ecm

In a simplified restructuring waterfall, 120 million is available for distribution. Secured debt has an 80 million claim and is paid in full before an $80 million general unsecured claim. Ignore all other claims and costs.

What recovery percentage does the general unsecured claim receive?

  1. 25%
  2. 40%
  3. 50%
  4. 100%

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