The Ministry of Economy says that the main reasons why firms are so long in receivership is the fact that the court procedures led by the bankruptcy trustees take very long, that there are no interested buyers for the bankrupt company's assets, that the bankruptcy judges and trustees are replaced very often and that the bankruptcy trustees are disinterested in seeing fast resolution of the bankruptcy proceedings
Since its foundation a year ago, the Bankruptcy Committee has reduced the number of active bankruptcy proceedings
by 20 percent.
Court of Appeals for the 6th Circuit, which covers cases in Kentucky where Katz filed suit, disagreed, saying a 1994 provision passed by Congress opened up states to bankruptcy proceedings
Mourad also argued it was unfair to tax him on the income of the property during the bankruptcy proceeding
since he had received no benefit from it during that time.
Alan Owens, partner of law-firm Irwin Mitchell, who is representing timeshare victims, said: 'If Palmer does go through bankruptcy proceedings
then the true extent of his wealth will be revealed.
To qualify to remain listed, companies would also have to retain shareholders' equity, and their market capitalization would have to stay at 1 billion yen or above after legal bankruptcy proceedings
are completed, the paper said.
Typically, a filing invokes the Code's "automatic stay," which means, for most kinds of debt, that all collection actions are immediately put on hold until the bankruptcy proceeding
Deeply in debt and mired in a bankruptcy proceeding
two years ago, the 30-year-old office copier and facsimile equipment company crafted and implemented a rigorous plan to get back in the black.
In California, where Maxicare is headquartered and where it has a significant number of enrollees (and where the bankruptcy proceedings
are pending), HMOs are not considered insurance companies under state law.
com/research/90cdfd/what_bankruptcy_la) has announced the addition of the "What Bankruptcy Lawyers Need to Know About Insurance Issues that May Arise from Bankruptcy Proceedings
in 2011 " audioconference to their offering.
Bigger protection for creditors in bankruptcy proceedings
, shorter deadlines in the bankruptcy proceedings
, electronic sale of the assets of the bankrupt firms and electronic appointment of bankruptcy trustees are some of the novelties in the modifications to the Bankruptcy Law, which Economy Minister Valon Saraqini presented at a press conference Thursday.
A federal judge ruled Wednesday that Santa Paula Memorial Hospital can free hundreds of thousands of dollars from its bankruptcy proceedings
to pay more than 200 employees set to be laid off next month.
The bankruptcy proceedings
may affect the interest of shareholders in the Company.
In these cases, the courts held that the Service's policy of refusing to consider offers from debtors in bankruptcy proceedings
violates Bankruptcy Code provisions prohibiting discrimination against persons who have filed bankruptcy.
Obstacle: The IRS usually requires capitalization of fees incurred in connection with bankruptcy proceedings