noone1:
Boxster Coupe GTS:
noone1:

It's highly unlikely Tesla even in bankruptcy would burn depositors.

Erm, you might like to do a bit or research on Chapter 11 and ranking of creditors...

Recovery on Customer Deposits

"Bankruptcy Code Section 507(a)(7) establishes a priority for unsecured claims of individuals arising from Customer Deposits towards the purchase of goods that were not delivered up to a maximum of $2,600.  The remaining portion of the un-refunded deposit would become a general unsecured claim. Consumers owed deposits are only paid after all of the secured creditors and administrative expenses of the bankruptcy (such as bankruptcy lawyers’ fees) are paid.  As priority creditors, holders of deposits would be paid up to $2,600 before any general unsecured obligations of the retailer are satisfied."

...Tesla secured debt is highly likely to exceed available liquidity under a Chapter 11 scenario, so customer deposits are likely to be facing a maximum recovery of $2,600 -- or more likely zero!  Smiley

If you are happy to give Tesla a free unsecured loan for 3 or more years, which the market will not, it might be a good idea to hedge your exposure... Smiley

I greatly disagree on that their secured debt is more than the liquidated value.

Also, if you think a company is going to come out of chapter 11 still selling cars to customers they fleeced out of $50-250K, you might as well not even bother coming out of bankruptcy since you'll have destroyed your reputation.

Also, there is no obligation for bond holders to screw over customers outside of complete liquidation. If bond holders believe it's best to honor those obligations, then they will.

It sounds like you haven't had the pleasure of Chapter 11 with high yield fund managers exercising fiduciary duties on behalf of their credit investors. High yield portfolio managers are not employed to be "nice" to unsecured creditors, particularly in a distressed situation. Indeed, they are actually obliged to extract maximum value for bondholders - without regard to other categories of creditors.

In some cases, bondholders may agree to provide additional liquidity to help the company exit from Chapter 11, e.g. when their secured debt claim is being converted to become the new class of controlling shareholders (and old shareholders get zero) - but that would be to help future working capital requirements... not to bail out unsecured creditors! Smiley

Chapter 11 would not result in a good outcome for shareholders, existing customers, future depositors, employees, bondholders, unsecured creditors, suppliers, JV partners, brand value, Elon Musk and other members of senior management!  Smiley

On the other hand, there is likely to be plenty of litigation to keep lawyers busy... Smiley

Tesla's unfettered ambition to drain finances: analysts

17 November 2917 (Reuters) - Tesla Inc will face further questions about how fast it is burning through its cash pile and how soon it will have to ask creditors and shareholders for more after it unveiled its latest electric vehicles.

Link: https://www.reuters.com/article/us-tesla-truck-research/teslas-unfettered-ambition-to-drain-finances-analysts-idUSKBN1DH1M4