of a Chapter 7 bankruptcy are permanent discharge of unsecured debts‚ which means that as long as there are no properties attached to the debts‚ all debts will be wiped out. Automatic stay orders a protection from the court that will stop all creditors from contacting you. They are prohibited from all harassing threats‚ lawsuits‚ phone calls‚ judgments‚ repossessions‚ and garnishments. Keep exempt property is when people keep their property in a bankruptcy. For instance if you have household
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Merger Fundamentals Firms sometimes use mergers to expand externally by acquiring control of another firm. The objective for a merger should be to improve the firm’s share value‚ a number of more immediate motivations such as diversification‚ tax considerations‚ and increasing owner liquidity frequently exist. Sometimes mergers are pursued to acquire specific assets owned by the target rather than by a desire to run the target as a going concern. Mergers‚ Consolidations‚ and Holding Companies
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Alongside Experian and TransUnion‚ Equifax stands as one of three most important consumer credit reporting agencies in the U.S. The company’s importance is underscored by the large number of outside people and companies that rely on its information. Creditors‚ landlords and employers will use the information provided to make decisions about doing business with certain individuals. What Services Does Equifax Provide? Most Americans are aware of the fact Equifax provides personal information related to
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or assets of the company become fixed‚ it constitutes a Charge upon all the property or assets then belonging to the Company. It has priority over subsequent equitable charges and over unsecured creditors. Equitable charge is a charge that does not pass on the ownership or possession to a creditor but gives him the right to judicial process of recovery of the loan amount in case of
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will be required to repay depends on several factors such as your earnings‚ your debt‚ and how much the creditors of your unsecured loans would have received if you had filed under Chapter 7 instead of Chapter 13. Like Chapter 7 there are qualifications that must be met in order to file Chapter 13 bankruptcy‚ your debt must be under the limit for filing‚ as of September‚ 2009‚ the limit on secured debt was $1‚010‚650 and the limit on unsecured debt was $336‚900. Any amounts above these limits and you
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Chapter 15 COMPANY SECURITIES 15.1 DEBENTURES This is a written acknowledgement of a debt owed by a company. Whilst it is possible for some debentures to be unsecured‚ those given to the bank will usually incorporate a fixed and / or a floating charge over the company’s assets. 15.2 FIXED CHARGE This is a charge which immediately encumbers specific assets of the company. Accordingly‚ the chargee’s (bank) consent would be required if the company is to deal with or dispose the assets
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restructuring of its capital base. Capital reconstruction involves major alterations in the capital base of a company. It is related to the term capital restructuring. OR A company gains the agreement of its shareholders and creditors to vary the rights of its members and creditors‚ by altering the capital structure in a way that allows the existing company to continue in business. Types of Capital Reconstruction:- There are two types of capital reconstruction. These are splits and consolidations.
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interests of all the creditors and attempt to rescue the company as a going concern or more often if they can get a better price for assets than immediate liquidation would give. In general it is a process that happens when company face financial difficulties. He will be working for companies interest‚ in order to pay out companies all creditors they can take any decision such as if it is profitable to keep running the company or sell in profitable price and pay to its creditors. An administrator
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ASSETS & LIABILITIES Asset is an item of value owned by the company. Assets can be tangible i.e. those which have some physical existence or can be intangible i.e. which do not exist in physical form but can be held in the form of contracts or rights. Assets are usually grouped in order of liquidity (ease of conversion to cash) on the balance sheet. Cash is therefore the most liquid of all assets. Assets can be classified as: 1.) Current Assets – Those assets that are expected to be converted to
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” (765 ILCS 1005/1c). CAN LAND HELD IN TENANCY BY THE ENTIRETY BE REACHED BY A JUDGMENT CREDITOR? ANSWER: Yes‚ if the sole intent of the transfer was to avoid payments existing at the time of the transfer beyond the transferor’s ability to pay those debts as they became due. The Illinois Code of Civil Procedure states that property held in tenancy by the entirety may be reached by a judgment creditor in very limited circumstances: Any real property‚ any beneficial interest in a land trust
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