Subprime Lending, Suboptimal Bankruptcy: A Proposal to Amend
... start in bankruptcy as compared with prime borrowers just because they purchased their mortgage on the subprime market. Second, the trustee should be permitted to use § 548(a)(1)(B) of the Code to avoid that portion of a subprime mortgage lien which, as a result of subprime lender overreaching, redu ...
... start in bankruptcy as compared with prime borrowers just because they purchased their mortgage on the subprime market. Second, the trustee should be permitted to use § 548(a)(1)(B) of the Code to avoid that portion of a subprime mortgage lien which, as a result of subprime lender overreaching, redu ...
The Trust Indenture Act of 1939 and Out-of
... half of the company. That is, we would each receive 50% of its common stock, which is also valued at $500 million, if we hand over our bonds and give up our rights to future bond payments. And remember, neither of us would necessarily lose money on the exchange; the value of our bonds has fallen to ...
... half of the company. That is, we would each receive 50% of its common stock, which is also valued at $500 million, if we hand over our bonds and give up our rights to future bond payments. And remember, neither of us would necessarily lose money on the exchange; the value of our bonds has fallen to ...
Pension debts – priority of claims
... example, a fixed or floating charge over assets. These have become more common in recent years – there can be a saving from the levy charged by the Pension Protection Fund (PPF). Some priority may apply to pension obligations that arise after a formal insolvency process (eg liquidation or adminis ...
... example, a fixed or floating charge over assets. These have become more common in recent years – there can be a saving from the levy charged by the Pension Protection Fund (PPF). Some priority may apply to pension obligations that arise after a formal insolvency process (eg liquidation or adminis ...
Saving Your Home in Bankruptcy
... homeowners have mortgages that exceed the value of their homes. Several million households also have mortgages with low “teaser” interest rates that are scheduled to increase, but with a drastically reduced supply of mortgage loans they cannot refinance. Housing pundits have estimated that 2 million ...
... homeowners have mortgages that exceed the value of their homes. Several million households also have mortgages with low “teaser” interest rates that are scheduled to increase, but with a drastically reduced supply of mortgage loans they cannot refinance. Housing pundits have estimated that 2 million ...
The Securities Claim Exemption in Bankruptcy
... In fact, in some federal circuits, the investor waives this right even if the court is negligent in failing to give the required notice of the deadline.14 Fortunately, however, the same deadline does not apply to the securities claim exemption.15 In fact, under the securities claim exemption, there ...
... In fact, in some federal circuits, the investor waives this right even if the court is negligent in failing to give the required notice of the deadline.14 Fortunately, however, the same deadline does not apply to the securities claim exemption.15 In fact, under the securities claim exemption, there ...
Equity Auctions and the New Value Corollary to the
... rejecting the unsecured creditors’ claim that the “fixed principal” stated in Northern Pacific Railway required unsecured creditors be paid in full before stockholders could retain any interest in the reorganized company, the Supreme Court stated as follows: . . . . [T]o the extent of their debts cr ...
... rejecting the unsecured creditors’ claim that the “fixed principal” stated in Northern Pacific Railway required unsecured creditors be paid in full before stockholders could retain any interest in the reorganized company, the Supreme Court stated as follows: . . . . [T]o the extent of their debts cr ...
Payments on Long-Term Debt As Voidable Preferences
... bankruptcy petition. In the case of a corporate debtor, an insider is defined to include a director, officer, or person in control of the debtor, IIU.S.C. § 101(28)(B)o-(ii) (Supp. III 1985), and in the case of an individual debtor, an insider is defined to include a relative of the debtor. Id. § 10 ...
... bankruptcy petition. In the case of a corporate debtor, an insider is defined to include a director, officer, or person in control of the debtor, IIU.S.C. § 101(28)(B)o-(ii) (Supp. III 1985), and in the case of an individual debtor, an insider is defined to include a relative of the debtor. Id. § 10 ...
AdamsSafe Harbors - Digital Access to Scholarship at Harvard
... payments in the same currency on some made up amount of money they pretend to lend to each other.7 The buyer (often a nonfinancial business of some kind) wants to reduce their exposure to interest rate volatility, say, but they are not able to borrow favorably at a fixed rate. Therefore, they will e ...
... payments in the same currency on some made up amount of money they pretend to lend to each other.7 The buyer (often a nonfinancial business of some kind) wants to reduce their exposure to interest rate volatility, say, but they are not able to borrow favorably at a fixed rate. Therefore, they will e ...
insolvent trading
... “In my view, when considering whether a person has acted honestly for the purposes of a defence under ss 1317S(2)(b)(i) or 1318 of the CA, the court should be concerned only with the question whether the person has acted honestly in the ordinary meaning of that term, that is, whether the person has ...
... “In my view, when considering whether a person has acted honestly for the purposes of a defence under ss 1317S(2)(b)(i) or 1318 of the CA, the court should be concerned only with the question whether the person has acted honestly in the ordinary meaning of that term, that is, whether the person has ...
Study Guide for all 4 chapters
... Some people believe that credit cards are evil—that they lead to overspending, to debt problems, and to moral decline. But credit cards can also mean the difference between having a good vacation and staying at home. Consider the following: 1. In order to rent a car, you will need a credit card. The ...
... Some people believe that credit cards are evil—that they lead to overspending, to debt problems, and to moral decline. But credit cards can also mean the difference between having a good vacation and staying at home. Consider the following: 1. In order to rent a car, you will need a credit card. The ...
K.3 Your Legal Rights During and After Bankruptcy: Making the Most
... make the payments every month, and to face the consequences if you don’t. The reaffirmation agreement must include information about your income and expenses and your signed statement that you can afford the payments. If you have any doubts whether you can afford the payments, do not reaffirm. Cauti ...
... make the payments every month, and to face the consequences if you don’t. The reaffirmation agreement must include information about your income and expenses and your signed statement that you can afford the payments. If you have any doubts whether you can afford the payments, do not reaffirm. Cauti ...
Memorandum Date 10 March 2016 From Reinhard Dammann Direct
... L. 233-3 of the French Commercial Code2, can be opened by the court in the jurisdiction of the registered office of any company of the group and this court will remain competent for the opening of all other insolvency proceedings of the group. Thus, the Macron law has introduced for the first time a ...
... L. 233-3 of the French Commercial Code2, can be opened by the court in the jurisdiction of the registered office of any company of the group and this court will remain competent for the opening of all other insolvency proceedings of the group. Thus, the Macron law has introduced for the first time a ...
PDF - Herbert Smith Freehills
... The primary purpose of the administration regime is to facilitate the rehabilitation of distressed companies and enable them to continue trading.5 It can be very difficult to achieve this in circumstances where the company’s key suppliers and contractors are free to terminate their contracts with th ...
... The primary purpose of the administration regime is to facilitate the rehabilitation of distressed companies and enable them to continue trading.5 It can be very difficult to achieve this in circumstances where the company’s key suppliers and contractors are free to terminate their contracts with th ...
Page 577 - Supreme Court of Canada Judgments
... I think the case has been rightly decided by the court below, and that in doing so they have not had to rely upon any principles of equity, but upon the rigid common law. Everything nominated in the bond has been complied with. The appeal should be dismissed with costs. ANGLIN J.—I am disposed to a ...
... I think the case has been rightly decided by the court below, and that in doing so they have not had to rely upon any principles of equity, but upon the rigid common law. Everything nominated in the bond has been complied with. The appeal should be dismissed with costs. ANGLIN J.—I am disposed to a ...
Corporate Financial Distress and Bankruptcy
... The role of high leverage in corporate restructuring and the popularity of junk bonds have been important aspects of the corporate finance scene in the 1980s. The interest in the prediction of corporate bankruptcy is increasing due to the implication associated with this phenomenon for investors, cr ...
... The role of high leverage in corporate restructuring and the popularity of junk bonds have been important aspects of the corporate finance scene in the 1980s. The interest in the prediction of corporate bankruptcy is increasing due to the implication associated with this phenomenon for investors, cr ...
The Personal Liabilities of Insolvency Practitioners under Insolvency
... (b) CCAA The Companies’ Creditors Arrangement Act was first adopted in 1933 in response to the Depression crisis and was designed to allow large companies with outstanding bonds and debentures to restructure their debts without first having to suffer the indignity and possibly fatal consequences of ...
... (b) CCAA The Companies’ Creditors Arrangement Act was first adopted in 1933 in response to the Depression crisis and was designed to allow large companies with outstanding bonds and debentures to restructure their debts without first having to suffer the indignity and possibly fatal consequences of ...
Why do Spanish firms rarely use the bankruptcy
... ones: informal workouts and foreclosures. An informal workout is a private reorganisation process in which the major financial creditors of the distressed company act in a coordinated manner to either restructure its debt, so that the company can be kept as a going concern, or to liquidate the compan ...
... ones: informal workouts and foreclosures. An informal workout is a private reorganisation process in which the major financial creditors of the distressed company act in a coordinated manner to either restructure its debt, so that the company can be kept as a going concern, or to liquidate the compan ...
final 20/10/2004 - HUDOC
... (skuldsaneringslagen) of 1994. This legislation essentially corresponded to the Finnish legislation and was of vital importance to society as it sought to rehabilitate individuals with very large debts, affording them a chance to lead a decent life. The legislation applied to residents in a “qualifi ...
... (skuldsaneringslagen) of 1994. This legislation essentially corresponded to the Finnish legislation and was of vital importance to society as it sought to rehabilitate individuals with very large debts, affording them a chance to lead a decent life. The legislation applied to residents in a “qualifi ...
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
... On December 6, 1993, the Registrant filed a voluntary petition for relief under the provisions of Chapter 11 of the United States Bankruptcy Code. This followed several months of internal restructuring, which among other things resulted in significant changes among the Registrant's executive officer ...
... On December 6, 1993, the Registrant filed a voluntary petition for relief under the provisions of Chapter 11 of the United States Bankruptcy Code. This followed several months of internal restructuring, which among other things resulted in significant changes among the Registrant's executive officer ...
An Overview of Asset Protection in Texas, Amy P. Jetel
... were expected to feed and clothe themselves while incarcerated). Granted, this scenario is somewhat better than what debtors could expect under ancient Roman law, which allowed creditors to take chunks of the debtor’s body in payment of their debts. But needless to say, the debtor’s prison arrangeme ...
... were expected to feed and clothe themselves while incarcerated). Granted, this scenario is somewhat better than what debtors could expect under ancient Roman law, which allowed creditors to take chunks of the debtor’s body in payment of their debts. But needless to say, the debtor’s prison arrangeme ...
DETERMINANTS OF FIRMS` BANKRUPTCY: THE CASE OF
... Using the definition “most important factors” I mean factors that have the strongest influence on probability of going bankrupt or, at least, on perception by other parties of this entity going bankrupt. So such an analytical approach can be employed in both, scientific and practical fields. From ba ...
... Using the definition “most important factors” I mean factors that have the strongest influence on probability of going bankrupt or, at least, on perception by other parties of this entity going bankrupt. So such an analytical approach can be employed in both, scientific and practical fields. From ba ...
Contagion and competitive intra-industry effects of
... information about individual firms in an industry could reassess their perception of the creditworthiness of all firms in the industry. As a result, these firms might experience a fall in demand and have to advertise their creditworthiness. Interaction with leverage. The contagion effect applies to ...
... information about individual firms in an industry could reassess their perception of the creditworthiness of all firms in the industry. As a result, these firms might experience a fall in demand and have to advertise their creditworthiness. Interaction with leverage. The contagion effect applies to ...
Predicting The Financial Failure Of Retail Companies In The United
... various financial ratios using a pair-matched sample. In a landmark paper in the bankruptcy prediction area, Altman (1968) used multiple discriminant analysis on a pair-matched sample. Altman (1968) used five financial ratios to predict whether a company is a going concern. Altman’s study is very ac ...
... various financial ratios using a pair-matched sample. In a landmark paper in the bankruptcy prediction area, Altman (1968) used multiple discriminant analysis on a pair-matched sample. Altman (1968) used five financial ratios to predict whether a company is a going concern. Altman’s study is very ac ...
Ambac Receives Consent to Extend Period to Satisfy Condition to
... (the “Confirmation Date”), must be met. Article IX of the Plan provides, in part, that the terms of Ambac’s settlement with the IRS shall have been approved by the United States, among others, and that all conditions to the effectiveness of the settlement shall have been satisfied on or before the d ...
... (the “Confirmation Date”), must be met. Article IX of the Plan provides, in part, that the terms of Ambac’s settlement with the IRS shall have been approved by the United States, among others, and that all conditions to the effectiveness of the settlement shall have been satisfied on or before the d ...
Bankruptcy and Firm Value
... Loss of Receivables: Firms in bankruptcy might be distracted and be less able to collect from trade debtors. Ordinarily, customers would pay in order to continue being able to do business with the firm – if a firm is in bankruptcy, this is less of an incentive. Fire sales of assets: assets might nee ...
... Loss of Receivables: Firms in bankruptcy might be distracted and be less able to collect from trade debtors. Ordinarily, customers would pay in order to continue being able to do business with the firm – if a firm is in bankruptcy, this is less of an incentive. Fire sales of assets: assets might nee ...