SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
... Performance Materials Inc. and its Affiliated Debtors (as amended or supplemented from time to time, the “ Plan ”), which is attached
hereto as Exhibit T3E-1, and the Disclosure Statement for the Plan (as amended or supplemented from time to time, the “ Disclosure
Statement ”), which is attached her ...
CALPINE CORP (Form: 8-K, Received: 09/20/2007
... Amended Disclosure Statement. Accordingly, this announcement is not intended to be, nor should it be construed as, a solicitation for a vote on
the Second Amended Plan. The Second Amended Plan will become effective only if it receives the requisite stakeholder approval and is
confirmed by the Bankru ...
CONSECO INC (Form: 8-K, Received: 03/21/2003
... (the "Disclosure Statement") and related second amended joint plan of reorganization (the "Plan") with the United States Bankruptcy Court for
the Northern District of Illinois, Eastern Division (the "Bankruptcy Court"). Copies of the Disclosure Statement (including certain minor
technical correction ...
OSG - corporate
... stock will be delisted after completion by the NYSE of application to the Securities and Exchange Commission.
Section 5 – Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Cer ...
1 THE CROSS-BORDER INSOLVENCY OF INTERNATIONAL
... insolvencies and specifically, in respect of COMI (the centre of the debtor’s main interests).
The insolvency of large, complex financial institutions (LCFIs) amongst other issues is
complicated by the problem of deciding the home country 4- the centre of the debtor’s main
interests. This has been c ...
Harvard Law School
... A variety of sanctions have been used across history for enforcing
contracts, including debtor’s prison and enslavement. The principal sanction
employed by modern legal systems, however, is permitting an unpaid creditor to
seize assets owned by the defaulting promisor. When an individual enters into ...
Law and the Rise of the Firm
... A variety of sanctions have been used across history to enforce contracts, including debtor's prison and enslavement. The principal sanction employed by modern legal systems, however, is permitting an unpaid creditor to seize assets owned by the defaulting promisor. When
an individual enters into a ...
Secured Transactions Summary: Fall 2001
... Instalment sale of movable property – seller retained title to the property until purchaser had paid in full
Sale of land under K in which the vendor reserved the right to cancel the sale and take back the property
if purchaser defaulted
Creditors loaning money arranged to have the debtor tran ...
Christian Bros. High School Endowment v. Bayou No Leverage
... investment adviser fraud and mail fraud. (Sonn. Ex. 3) The informations charged that
Israel and Marino had provided newsletters, reports, and financial statements setting forth
inflated rates of return for the Bayou Funds, and had falsely represented to investors that
Bayou’s financial statements ha ...
LEGAL ENTITIES AND ASSET PARTITIONING IN ROMAN
... and augmented by retained earnings, that it holds in its own name. Pursuant to the
partnership agreement, the partners can enter into contracts that bind the partnership
and thus commit this pool of partnership assets. This asset pool is “partitioned” in the
sense that it must be used for paying the ...
Consumer Law and Credit / Debt Law
... This manual contains limited references to case law (the collection
of previous written legal decisions in a particular jurisdiction such as
a province or a country; over time, case law develops and establishes
principles that are used in understanding the law and deciding future
cases). In many ins ...
Commercial Law Developments 2010
... Bond trustee that had filed financing statements did not have perfected security interest in
real property leases because such an interest is excluded from Article 9 of the Idaho
Commercial Code and can be perfected only be recording in the real property records. While
the leases were recorded, no a ...
... - There are 4 principles to keep in mind in all creditors remedies cases:
a) Law believes that just debts should be paid
- Just debts occur when it is determined 'x' owes '$'
b) Some protection for the debtor, his/her family, and innocent 3rd parties
- See chapters on exemptions and immunities
c) So ...
SIP 16 - ACCA Global
... advice to the company before any formal appointment and the functions and
responsibilities of the administrator following appointment. The roles are to be
explained to the directors and the creditors. For the purposes of this Statement of
Insolvency Practice only, the role of "insolvency practitione ...
MAKING SURE THE BAD GUYS PAY
... iii. JUDGMENT CREDITOR. Person that is owed the money
iv. JUDGMENT DEBTOR/ Person obliged to pay
v. SECURITY INTEREST. An interest in personal property or fixtures which
secures payment or performance of an obligation
1. Fixtures. Goods that become so related to the real property that an
interest in ...
Current Developments in Bankruptcy
... and/or unliquidated, or (ii) the creditor disagrees with the amount of the claim as listed in the
Schedules. FRBP 3003(c)(2). If a proof of claim is filed, it supersedes the amount scheduled by
the debtor. In re Carraway Methodist Health Systems, 2008 WL 2937781 (Bankr. N.D. Ala.
2008). If, however ...
I. The Basic Checking Relationship and the Bank`s Right to Pay
... that “a bank may dishonor an item that would create an overdraft unless it has agreed to
pay the overdraft” and 4-103(a) states that “the effect of the provisions of this Article
may be varied by agreement.
1. The UCC does not regulate how much banks can charge in overdraft fees.
However, some state ...
A Systems Approach to Comparing U.S. and Canadian
... only one component, it becomes apparent that many subfunctions can
be performed either by law or by extra-legal means. For example, the
U.S. reorganization system provides only one legal mechanism, the
appointment of a trustee, to displace the debtor's management if it
abuses its authority.l2 That m ...
SWD(2014) 61 final - European Commission
... the powers and qualifications of liquidators, directors' duties and liabilities and professional
disqualifications, divergent rules on the priority of claims and on avoidance actions in
insolvency proceedings. The Commission will conduct further comparative law and
economics research in addition to ...
Financial Distress and Divorce: Evidence from Bankruptcy
... the effects of bankruptcy provision on individuals who are homeowners and nonhomeowners. The panel data are key because they allow for an identification of
homeowner status prior to a divorce, as divorce itself may change homeownership.
This separation is key for understanding the specific mechanism ...
... creditor coordination problems. This is due to the fact that when the credit quality of
the firm is lower, strategic uncertainty on actions of other creditors tends to increase.
Prior studies also suggest that creditor coordination problems are likely to be
exacerbated when there is higher uncertain ...
Identifying and Keeping the Genie in the Bottle
... law as it relates to IP: (1) how to perfect a security interest in IP assets, i.e., "general
intangibles" in the parlance of Article 9 of the Uniform Commercial Code (the
"U.C.C."), and (2) the treatment of executory contracts involving IP assets. 9 Rather
than focus on a discussion of security inte ...
Market Implied Costs of Bankruptcy
... However, in a more realis c situa on, where ﬁrms face con nued reﬁnancing needs, equity prices will
reﬂect bankruptcy costs, even in the absence of any new equity issues. To see this, consider a ﬁrm that
wishes to roll over its maturing debt by issuing new debt with the same face value and the same ...
Bankruptcy Law in the Republic of Ireland
Bankruptcy in Irish Law is a legal process, supervised by the High Court whereby the assets of a personal debtor are realised and distributed amongst his or her creditors in cases where the debtor is unable or unwilling to pay his debts.Bankruptcy in Ireland applies only to natural persons. Other insolvency processes including liquidation and examinership are used to deal with corporate insolvency.A bankrupt is somebody who has been adjudicated bankrupt by the High Court. Once a debtor is adjudicated bankrupt, bankruptcy law provides for the mandatory vesting of all of the bankrupt's assets and property in the Official Assignee (OA). Under the supervision of the Court, the OA will realise the bankrupt's assets and distribute the assets according to law among the bankrupt's creditors.The essence of bankruptcy is that the debtor's assets are transferred to an official who administers and realises them for the benefit of all creditors. The purpose is to release the bankrupt from an unsustainable debt burden and to distribute his assets amongst all creditors equally (although certain types of creditor enjoy priorities). The bankrupt person is subject to restrictions and disabilities on trading and on obtaining credit while a bankrupt but leaves the process with their debts forgiven.The Official Assignee in bankruptcy can challenge and set aside pre-bankruptcy transactions by the bankrupt to make the assets, the subject of those transactions, available to the creditors.The classic definition of bankruptcy is that:""it is a law for the benefit and relief of creditors and their debtors, in cases in which the latter are unable or unwilling to pay their debts.""Irish bankruptcy law has been the subject of significant recent comment, from both government sources and the media, as being in need of reform. Part 7 of the Civil Law (Miscellaneous Provisions) Act 2011 has started this process and the government has committed to further reform.