Bankruptcy and Debtor-Creditor Relations Bankruptcy often conjures up images of the Great Depression‚ boarded up store fronts‚ and social disgrace. Today‚ however‚ bankruptcy has evolved into a procedure in which a person or business may preserve their remaining assets‚ reorganize and continue on or obtain a fresh-start in life. Bankruptcy can be defined simply as “the legal process by which the assets of a debtor are sold to pay off creditors so that the debtors can make a fresh start financially”
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capital component particularly debtors. The issue of liquidity has been the cause of many corporate failures. MIDLANDS STATE UNIVERSITY (M.S.U) is facing a similar problem. The company has a ballooning figure of debtors in its accounts. The problem arising out of the monies tied up in debtors is that the company is experiencing cash-flow problems. The failure to finance day-to-day operations is a cause of concern. Delays in payment of both employees’ salaries and creditors are a common phenomenon in
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Questions: 1. Define Negligence or Culpa. 2. What are the kinds of Negligence? 3. What are the successive rights of the creditors to satisfy the claims of his debtors? Answers to Questions: NEGLIGENCE Negligence‚ also known as Culpa‚ is the failure to observe for the protection of the interests of another person‚ that degree of care‚ precaution and vigilance which the circumstances justly demand‚ whereby such other person suffers injury. Negligence can also be defined as: The omission
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Welfare including its Head office. Its core business is to manage the debtors of the ministry be it sports‚ culture or education. The Expenditure section deals with cash allocated from the fiscus for use in travelling and subsistence allowances‚ and day to day running of the ministry e. g. paying for water‚ electricity etc. The suspense section which is the subject of this research‚ also deals with the recovery of money from debtors of the Ministry. Salaries are paid by Salaries
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Agency Conflict 2: Stockholders versus Creditors Conflict of interest can also arise between stockholders and creditors. Stockholders may take decisions that increase their return on debt which eventually leads to decrease in the value of the debt. Creditors also have a claim on the earnings and assets of the firm for the payment of interest and principal and in case of bankruptcy. Creditors are providers of long term debt of capital. They lend funds at rates that are based on; 1. The risk of
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Striving to have a better life has always been seen as a determination for many people and in “Vengeful Creditor” by Chinua Achebe it is no different. In comparison to the rich‚ the less fortunate have not had the opportunity to partake in the many opportunities that the wealthy are allowed to partake in and in this case it is the right to an education that is seen as the main conflict in “Vengeful Creditor.” Not that the lower class is forbidden to attend school‚ but the fees of school is the barrier which
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Name: Dinh Thi Quyen Class: A4 – LT6B Number: 24 Essay: Importance of financial statements to managers‚ investors and creditors Financial statements are important reports. They show how a business is doing and are very useful internally for a company’s stockholders and to its board of directors‚ its managers and some employees‚ including labor unions. Externally‚ they are important to prospective investors‚ to government agencies responsible for taxing and regulating‚ to lenders such as
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------------------------------------------------- AN evaluation of the effectiveness of debtors’ management systems: ------------------------------------------------- A CASE study of puzey and payne INTRODUCTION 1.0 Introduction This chapter briefly provides the background of the study on the effectiveness of debtors’ management systems at Puzey and Payne‚ Harare. In this chapter‚ the researcher rationalized the topic‚ clarified the objectives
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liquidator to do all he can to recover the creditors money. I would start by saying that Chablis ltd and Muscadet ltd are wholly owned subsidiaries and are separate legal entities in their own right. When Brandy loaned the two subsidiary companies money‚ the loans were secured by fixed and floating charges over all of their assets‚ so first and foremost‚ this would need to be paid back with the money recovered when winding up these two businesses. The other creditors‚ which could be electricity companies
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GM533 Course Project – Case 32 Executive Summary: The purpose of this analysis is to assist the Quick Stab Collection Agency (QSCA) in determining if the amount or size of a bill collection is directly related to the number of days the bill is late. In order to support the validity of this relationship‚ a statistical analysis on the data provided will support the relationship with 95% confidence. These findings will give us a better understanding of the QSCA’s business and provide key insights
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