1) Why is Flagstar in financial distress? When possible‚ back your claims with data. Signs of financial distress • The company lost money almost every year since its leveraged buyout by Coniston Partners in 1989. The income generated was not sufficient to service the interest expenses of the company which stood at $2.62B in 1996. From Exhibit 1‚ we can say that interest coverage ratio computed as EBIT / Interest Expense was 1.31 in 1989 and has been decreasing over years and currently stands at
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DEBENTURES I. Sale/Transfer of Shares/Bonds/Debentures by NRIs to Residents In order to facilitate quick transfer of shares/bonds/debentures held by NRIs to residents‚ Reserve Bank has granted general exemptions for sale/transfer of shares/bonds/debentures through stock exchanges in India subject to fulfillment of certain conditions. Applications for sale/transfer of shares/bonds/debentures held by NRIs/OCBs by private arrangement i.e. other than through stock exchange should be made to Reserve
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unless authorized by the other partners. Except when authorized by the other partners or unless they have abandoned the business‚ one or more but less than all the partners have no authority to: (1) Assign the partnership property in trust for creditors or on the assignee’s promise to pay the debts of the partnership; (2) Dispose of the goodwill of the business; (3) Do any other act which would make it impossible to carry on the ordinary business of a partnership; (4) Confess a judgment; (5)
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amounts payable by a business concern to outsiders are called liabilities. Capital: Capital is the amount invested for starting a business by a person. Debtors: Debtor is the person who owes amounts to the businessman. Creditor: Creditor is the person to whom amounts are owed by the businessman. Debit: The receiving aspect of a transaction is called debit or Dr. Credit: The giving aspect of a transaction is called credit or Cr. Drawings:
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COMPANY LAW AND BUSINESS ASSOCIATIONS Shares are securities which companies issue to members of the pubic in order to raise money to finance their operations. Shares are securities because they represent the financial interest which a person has in the share capital of the company. So long as the company is still in business‚ the financial interest (shares) of a shareholder is protected by law and cannot be taken away except by lawful means such as by court order or by nationalization provided
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The Students’ Answers in this document are for the questions in the below textbook (which can be borrowed in Beanland Library): Additional information for this title Main Title: Understanding company law / Phillip Lipton‚ Abe Herzberg‚ Michelle Welsh. Author: Lipton‚ P. (Phillip) Herzberg‚ A. (Abraham) Welsh‚ Michelle Edition: 16th ed. Imprint: Pyrmont‚ N.S.W. : Thomson Reuters‚ c2012. Collation: viii‚ 987 p.; 26 cm. Notes: Previous ed.: 2010. "The 16th edition incorporates a number of significant
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Reading Guide Lecture 1 |COMMONWEALTH OF AUSTRALIA | |Copyright Regulations 1969 | |WARNING | |This material has been reproduced and communicated to you by or on behalf
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Currently‚ I am employed at Massood Law Group. The firm represents plaintiff and injured workers‚ but primarily focuses on representation of surgeons‚ medical facilities‚ and hospitals in No Fault (PIP) and Workers’ Compensation claims. My responsibilities and duties include educating and advocating on our clients behalf in workers’ compensation courts and associating in personal injury actions. With respect to the workers’ compensation field‚ I am able to take a case from the initial filing process
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Bankruptcy Law 5. Holdsworth on Historical Development Basically the law of bankruptcy has a long history and only a summary of the main developments may be highlighted Summary. 1542 Act - aimed mainly at securing the property of the debtor for his creditors. 1834 Act - extended bankruptcy law to none traders. Some land owners had become debtors and had to be catered for by the law. 1869 Act- to amend and consolidate the existing law was passed. This Act contained many of the substantive bankruptcy
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School of Law‚ University of Leeds International Corporate Rescue: LAW5567M Assessed Essay – Semester 2 – 2006/2007 INSTRUCTIONS 1. The essay will count for 100% of your total marks for this module. 2. Your completed essay must be posted in the container outside the Postgraduate Admissions Office by th 12 noon on 17 May 2007. You should fill in and attach a Declaration of Academic Integrity form‚ which is available outside the Postgraduate Admissions Office. The container will be emptied each
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