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| | Asset stripping |
 | | Asset stripping / the practice of acquiring a company, then selling parts of it, in the hope that the cash realised from these sales will match the entire acquisition cost, meaning that the asset stripper is left with the remaining parts at nil cost. | | | Asset stripping \ The practice of acquiring a company, then selling parts of it, in the hope that the cash realised from these sales will match the entire acquisition cost, meaning that the asset stripper is left with the remaining parts at nil cost. | | | The practice of acquiring a company, then selling parts of it, in the hope that the cash realised from these sales will match the entire acquisition cost, meaning that the asset stripper is left with the remaining parts at nil cost. |
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http://glossary.itlocus.com/asset_stripping.html
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| | MSN Encarta - Search Results - asset-stripping |
| | Assets and Liabilities, terms used in economics and accounting. | | | Assets represent property or rights to property and liabilities are debts owed to... | | | Current assets are usually those that management could reasonably be expected to convert into cash... |
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http://encarta.msn.com/asset-stripping.html
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| | Asset Protection Theory: Wealth Preservation and Asset Protection |
| | Asset protection planning is also, to a significant degree, pre-litigation and pre-bankruptcy planning that seeks to maximize the use of exemptions allowed by the state and federal legislatures, and other forms of protecting assets as recognized by established or anticipated law. | | | Equity Stripping is the process of selling equity or encumbering equity with debt so that if a creditor attaches an asset there is effectively little or nothing for the creditor to receive upon the creditor’s sale of the asset. | | | Corporations – The corporate entity is one of the oldest asset protection forms, and has been created by the legislatures for the very purpose of asset protection: To insulate the liabilities of the entity away from its investors. |
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http://www.assetprotectiontheory.com
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| | The Best Accounts Receivable Financing Strategy |
| | EquiStrip™ is a unique system for financing valuable business assets, such as accounts receivables, inventory, equipment, and income streams. | | | Collateral — An asset which is used to guarantee a loan or indebtedness. | | | Asset Freeze — The process of getting assets to the children or the children's trust, so that the assets and their future growth are not exposed to the parent's creditors. |
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http://www.equistrip.com
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| | Blogger: Email Post to a Friend |
| | The asset stripper increases overall efficiency in the economy by facilitating replacement of less-efficient resource usage with more-efficient resource usage. | | | Without asset stripping, business environments would be much less flexible, much more conservative, much more obsolete, and much less open to change and influence. | | | Those who criticize asset stripping are - sometimes intentionally - criticizing the change and fluctuation of capitalism itself. |
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http://www.blogger.com/email-post.g?blogID=6613695&postID=110774111928548198
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| | Wall Street is wrong Samizdata.net |
| | One other consideration is that in a boom period, when assets have a greater price under the "greater fool theory" than they do in terms of anticipated production of wealth, a greater long term value may not preclude their being liquidated to realize a lesser short term profit. | | | It all depends on what the financiers then do with the assets, and whether the assets shrink in value when they are detached from the now defunct body of the company. | | | They take assets that are not being used efficiently, and change their use to something more valuable. |
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http://www.samizdata.net/blog/archives/003890.html
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| | Lien stripping in bankruptcy: the undersecured lien |
| | Liens can be stripped off of the debtor's assets in Chapter 11 or Chapter 13 when there is not enough equity in the asset, after deducting senior liens from the property's current market value, to secure the lien. | | | Section 506 of the Bankruptcy Code acknowledges that a lien is only a secured claim to the extent there is value in the asset to which it attaches. | | | The plan must provide for payment in full of the secured portion of the debt; the unsecured portion can be paid little or nothing along with other unsecured claims. |
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http://www.moranlaw.net/lienstripping.htm
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| | MF Dividends - Stripping Income Tax revenues |
| | The asset management company is allowed to charge a maximum of 2.5% of the average weekly net assets of the fund (which reduces by 0.25% depending on incremental assets added by the AMC) towards all their expenses in a financial year. | | | This is because existing provisions of the income tax exempts schemes, which have at least 50% of their assets in equity. | | | Dividend stripping is process, whereby an investor enters into the scheme just before or on the record date of dividend declaration. |
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http://www.indiainfoline.com/mufu/feat/ditx.html
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| | Equity Stripping Example |
| | As with all asset protection plans, the cost of insuring against a risk must be weighed against the amount of the potential loss. | | | Legal fees and maintenance costs for an ERP must be balanced against the amount and likelihood of a potential liability. | | | Sometimes, transferring an asset, such as accounts receivable will create tax, accounting or administrative problems. |
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http://www.rjmintz.com/equity_stripping_example1.html
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| | robmyers » Asset Stripping Licenses And Value Creation Licenses |
| | An “asset stripping license” would be one that allowed work to be broken up and sold off by an asset stripper (or “cultural raider”) without any value returning. | | | “Asset stripping” is breaking up a company and selling off its assets. | | | A “value creation” license would be a “Gift Economy” license (still don’t like that phrase…), ensuring that value is returned with use and protecting against asset stripping, literally creating value in the commons. |
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http://www.robmyers.org/weblog/2004/05/01/asset-stripping-licenses-and-value-creation-licenses
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| | Asset Stripping: CBN Moves Against Bank Chairmen - OnlineNigeria.com |
| | Asset stripping in banking parlance refers to the sale of a company's assets like land and property to pay off its debts. | | | According to her, where parties are dissatisfied with the decisions of the regulatory body, whether at the stage of the CBN or at the SEC, such a matter can be brought before the Tribunal for appropriate judicial review. | | | This means that the any bank that acquires such a bank would be paying more than the actual cost since most of the assets would have been disposed. |
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http://nm.onlinenigeria.com/templates?a=3462&z=2
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| | Asset stripping is good Samizdata.net |
| | Asset strippers ensure that existing resource uses are always questioned, and that the future, when it does emerge unmistakably, is not smothered by the past. | | | There is good will, brand name etc. If a company's assets sell for more than a company as a whole is worth at the time, said company might simply be managed badly, or there is a short-lived surge in demand for certain assets, driving their prices through the roof. | | | The Richard Gere character is an asset stripper. |
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http://www.samizdata.net/blog/archives/007223.html
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| | business.iafrica.com business news Restructured KWV fears asset strippers |
| | It was “thus a target for asset strippers who could purchase the company extremely cheaply, sell the assets for a substantial profit and then liquidate the company,” the daily reported him saying. | | | The group also feared that should asset stripping take place, the market could be destabilised and minority shareholders would not gain from the proceeds of the asset stripping, Business Report said. | | | This would be effective only if the takeover bid was lower than 80 percent of the group’s net asset value, and would be in place until the group’s market price had exceeded 80 percent of its net asset value, or after four years, according to the paper. |
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http://business.iafrica.com/news/179718.htm
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| | ZWNews.com - linking the world to Zimbabwe |
| | "Asset stripping is a process when regimes are preparing to depart from government. | | | He said asset stripping was taking place in various forms with the government's haphazard land grab exercise providing new scope for the scam. | | | Another form of asset stripping had emerged in the form of forced asset transfers, especially those belonging to state enterprises. |
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http://www.zwnews.com/print.cfm?ArticleID=7248
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| | Trusts & Trustees |
| | The tax authorities through a liquidator sought restitution of the value of the assets or alternatively damages for negligence for the loss caused by the asset stripping. | | | The defendant, resident and domiciled in the UK, owned several Danish companies until 1992 when the entire assets of the companies were disposed of for cash which was then used to acquire shares in the defendant. | | | The basis for the restitution claim was a provision in Danish law prohibiting companies from providing financial assistance for the acquisition of their own shares. |
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http://www.trusts-and-trustees.com/case_notes/v5i8a.htm
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| | Equity Stripping and Asset Protection |
| | Asset Profile, Inc. provides ready-made turnkey solutions to strip equity from real estate, business and personal assets. | | | This is how you can effectively reduce your asset profile without reducing control over the assets you value most. | | | We strongly recommend that you read the chapter on Equity Stripping in the Asset Profile Manual. |
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http://assetprofile.com/EquityStripping.html
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| | Staszek Gomulka |
| | It was the Russian treasury which was directly asset stripped, not the manufacturing firms, and it was the fortunes made at that time which have sustained the political power of the oligarchs. | | | Clearly, it matters whom assets are privatised to initially, if only because the re-allocation of assets in the market takes place in time, and not instantaneously. | | | The ‘Coasian’ hypothesis that it does not matter whom assets are privatised to initially because initial buyers will sell out to the highest bidder, and the highest bidder will be the most efficient potential manager of the assets, is wrong in transition economics. |
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http://www.bu.edu/econ/faculty/kyn/newweb/economic_systems/Theory/Transition/staszek_gomulka.htm
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| | World Bank - Documents & Reports - After the Big Bang? Obstacles to the emergence of the rule of law in post-communist ... |
| | These individuals are concerned with the wealth they can obtain from the privatized assets, and have two alternative strategies: building value and stripping assets. | | | But uncertainty about when the rule of law will be established may lead some individuals to choose an economic strategy-stripping assets, including converting corporate assets to private use-that gives them an interest in postponing the establishment of the rule of law. | | | Policies that enhance the returns to investment and wealth creation rather than asset stripping not only serve to strengthen the economy in the short run, but enhance political support for the rule of law and thus put it in a position for stronger long-term growth. |
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http://www-wds.worldbank.org/servlet/WDS_IBank_Servlet?pcont=details&eid=000094946_03011404054433
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| | Alexander's Gas & Oil Connections - Time to fix a national embarrassment |
| | The extremely low valuation of the company is the result of many years of asset stripping and lack of transparency. | | | He should instruct the government, which owns a 38 % block of Gazprom stock, to use its shareholder votes in the June 28 annual meeting to fire PwC and bring in a new independent auditor to do a comprehensive forensic audit of the company and identify where theft took place. | | | Next, he should set up a special commission to retrieve all lost assets of Gazprom whatever the political connections of the new owners of those assets. |
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http://www.gasandoil.com/goc/company/cnr22875.htm
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| | Interviews & Opinions - News - News Agency PRIME-TASS |
| | The fears that foreign investors harbored about Russia over profit embezzlement and asset stripping now languish in the dustbin of modern financial history, along with that era’s bad financial policies. | | | We would argue that the greatest threat to the investment climate now is the readiness of state authorities to use their weapon of mandated, almost arbitrary power against business. | | | However, this time the scandal does not involve the great investor fears of embezzlement and asset stripping. |
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http://www.prime-tass.com/news/show.asp?topicid=65&id=328093
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| | [No title] |
| | Unlike the two previous cases where the analysis of the wealth constrained case was parallel to the unconstrained case, when all three transactions costs are in play the analysis has to be different because stripping redistributes income from the minority stakeholder to the majority stakeholder in a corporation. | | | Now we add a third problem that bears on corporations but not partnerships—the possibility that one member of the firm will strip it of its assets if the project fails. | | | Further, if the cost of untimely dissolution is high the entrepreneur may well decide to remain in a corporation. |
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http://www.econ.ucla.edu/workshops/papers/IO/Naomi-JL.doc
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| | SignOnSanDiego.com > News > Richard Louv -- Fighting 'asset stripping' in San Diego |
| | Desperate, this woman is a prime target for asset stripping, a term used by critics to describe the impact of so-called predatory lenders on individuals and communities. | | | Unlike payday lenders and check-cashers, these accounts would build assets and credit. | | | Such a no-check, no-overdraft account would allow a person to withdraw three to five money orders each month to pay bills. |
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http://www.signonsandiego.com/news/metro/louv/20050329-9999-lz1e29louv.html
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| | M2 Presswire : DTI outstrips asset stripping scheme. @ HighBeam Research |
| | M2 Presswire : DTI outstrips asset stripping scheme. | | | It borrowed against the assets of one company to support the trading of other group companies. | | | Dagonal then systematically plundered the assets of each company in turn. |
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http://static.highbeam.com/m/m2presswire/april152002/dtioutstripsassetstrippingscheme/index.html
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| | Air NZ denies asset strip claims |
| | Air NZ, which was enraged by the renewed references to asset stripping and other wrongdoing, confined itself to distributing the statement from the administrators and saying it was "pleased to note the correction". | | | * Potential claims against Air New Zealand in relation to: alleged asset stripping; centralisation of treasury function and sweeping of bank accounts; methods of recording of intercompany loan accounts; alleged inappropriate charging of fuel and other operating costs. | | | In a statement issued this morning, Air NZ managing director Ralph Norris hit back at claims contained in the latest report to creditors by Ansett administrators Andersen. |
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http://www.flyertalk.com/forum/showthread.php?t=29446
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| | The web of legal structures |
| | Community, and the assets it has built up over generations, needs to be protected by laws which put the burden of proving a case on the industries that want to disrupt it. | | | Community Assets are not defined or protected by law. | | | The epidemic of asset stripping has not come about by chance. |
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http://www.healheadingley.org.uk/misc/laws.htm
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| | Scotsman.com Business - Banking & Insurance - Private equity sector fights back against 'asset stripping slur' |
| | Private equity sector fights back against 'asset stripping slur' | | | He said: "The sector has been criticised as unaccountable asset strippers and quick-buck artists. | | | Ross Marshall, manager of Edinburgh-based Dunedin Enterprise Investment Trust, speaking at a meeting organised by the Association of Investment Trust Companies, said private equity had attracted recent unfavourable publicity. |
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http://business.scotsman.com/banking.cfm?id=513412005
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| | T&G calls for DTI investigation into asset stripping |
| | "We have come across cases where the assets - principally land and buildings - are then sold on at market value, without a penny going back to the sacked workers or to the taxpayer. | | | "The taxpayer is picking up the bill for companies who are retaining valuable assets, whilst the company pleads poverty," said Mr. | | | "We think there is a case for the DTI to investigate whether asset stripping is taking place, as if so, it is morally reprehensible and a bad deal for the taxpayer." |
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http://www.tgwu.org.uk/Templates/System/Other.asp?NodeID=91587
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| | I-Africa USA livestock price insurance, meer informatie over livestock price insurance |
| | The movement of capital assets from state to private hands has progressed without serious reversal of direction--despite periodic calls for reestablishing state control of certain assets. | | | In Russia a far higher share of state-owned assets were sold to managers and workers, or 'insiders,' compared to the former Czechoslovakia, Hungary, and Poland. | | | Despite periodic delays, the inept administration of the program's more recent phases, and allegations of favoritism and corrupt transactions in the enterprise and financial structures, in 1996 international experts judged Russia's privatization effort a qualified success. |
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http://www.iafrica.org/usa/livestock_price_insurance.htm
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| | Tim Worstall: Asset Stripping Rover? |
| | Fears that MG Rover is being "asset stripped" intensified last night after disclosure that new owners Nanjing Automobile are trying to recruit former Rover workers to help reassemble plant and equipment in China. | | | However we got to here is all sunk costs. | | | We’re saying that the Chinese Government think so which is why they offered the highest price. |
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http://timworstall.typepad.com/timworstall/2005/10/asset_stripping.html
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| | M2 Presswire : Serial asset stripping companies closed by the DTI. @ HighBeam Research |
| | Serial asset stripping companies closed by the DTI. | | | John Guilding (UK) Ltd and associated companies used deception to gain control of a number of businesses before plundering their cash reserves, selling their assets and, in some cases, leaving employees without jobs. | | | Current Article: Serial asset stripping companies closed by the DTI. |
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http://static.elibrary.com/m/m2presswire/april222004/serialassetstrippingcompaniesclosedbythedti/index.html
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| | The asset stripping of Mr and Mrs Latona by the court system |
| | To Raymond and Mary Latona, the sum was almost a pittance but it triggered a bitter legal dispute which resulted in their bankruptcy even though they had vast assets to cover the original debt. | | | In Federal Parliament, Liberal MP for Mitchell Alan Cadman claimed the family's assets had been sold for between $500,000 and $900,000 less than their worth. | | | Worse was to come when the Trustee in Bankruptcy was appointed to dispose of the Latonas' assets. |
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http://onevoice.freeservers.com/cases/case7.htm
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| | COMEDYZINE.com Our Guide To Economic Terms |
| | asset-stripping 1) a pejorative description of the process of dividing up the assets of a company in cases where the total value of the parts when separated is greater than their value when combined 2) what a stripper does when stripping and showing you her assets | | | book value 1) the value which is put on assets in a firm's accounts 2) the value of a book | | | avoidable cost 1) the part of the cost of any output that could be saved by not producing it 2) the amount of money one saves when not going to a strip club to watch asset stripping |
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http://www.comedyzine.com/facts65.html
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| | ¤¤¤ Reconstruction of Iraq without Asset Stripping :: Sterling-Bond |
| | The problem with privatization is that any assets sold now would be grossly undervalued and this would be deemed in the eyes of the world to be highly offensive to the Iraqi people. | | | The company believe that this solution offers an more effective means of fund-raising from the international finance community rather than what may turn out to be a "fire sale" of Iraq's national assets by the Allied powers of Britain and American in co-operation with the interim Iraqi government. | | | Reconstruction of Iraq's Economy without resorting to mass Privatization Asset Stripping. |
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http://zps.e-xl.com/en/5434/sterling-bond
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| | VSNL to compensate holders for asset stripping- The Economic Times |
| | these assets — mainly property — are being taken out and vested in another company. | | | according to property valuers, even after setting aside the land that would be eventually demerged, the balance real estate assets of vsnl that has accrued to the new tata-led management is estimated to be worth around rs 1,200-1,300 crore. | | | mumbai: the vsnl shareholders, who tender shares to the tata open offer, will be compensated for assets taken out of the company on eve of its divestment. |
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http://economictimes.indiatimes.com/cms.dll/articleshow?art_id=4192092
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| | UK financial information, analysis and glossary online |
| | If all the assets are sold it means the value of individual assets are greater than the purchase price. | | | If selling off only some of the assets, the aim will be to raise enough cash to cover the purchase price, meaning the remainder of the business has be acquired for nothing. | | | Where a company is acquired with the purpose of selling off all or a large percentage of the assets it owns. |
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http://www.information-finance.co.uk/asset-stripping.htm
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| | Asset stripping |
| | Stripping the assets, while ruthless, can be profitable. | | | A company's market value (the total worth of its shares) may have fallen, because of inefficient management or adverse markets, to a level below the total value of its individual assets, such as property, plant, patents or subsidiary activities. | | | Buying an undervalued company and selling off some or all of its assets. |
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http://www.anz.com/edna/dictionary.asp?action=content&content=asset_stripping
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| | IIF : Press |
| | These include the use of cumulative voting, improvement in board composition and management expertise, a reduction in asset stripping by requiring shareholder approval of major asset sales (although revenue "stripping" remains a problem), and standardized calculation and payment of dividends.” | | | The climate will only improve when all investors - both foreign and domestic - raise the market’s standard for acceptable corporate behavior on everything from properly accounting for treasury stock, to holding open tenders for corporate subcontractors, to preventing the asset stripping which we still see in the market.” | | | This has been a uniquely important factor to date in depressing asset prices and limiting the realization of Russia’s full investment potential.” |
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http://www.iif.com/press/pressrelease.quagga?id=97
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| | SSRN-Banking Crises Under Soft Legal Constraints Lessons from the Russian Meltdown by Enrico Perotti |
| | Russia needs to create a basic foundation for savings and intermediation by asset restrictions and market segmentation, crude but effective rules used in all underdeveloped systems to restrain asset stripping and opportunism. | | | Concretely, we propose a cautious extension of deposit insurance away from the monopolistic Sberbank and towards a narrow banking layer. | | | The last section of the paper puts forward a radical medium-term policy proposal for a stable banking and payment system for Russia. |
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http://papers.ssrn.com/sol3/papers.cfm?abstract_id=269928
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| | Business Wire : Thermatrix Files for Protection Under Chapter 11; Action Necessary To Deter Asset Stripping Pending ... |
| | That plan, which is at an advanced state, is based on a combination of a new and larger credit facility, income associated with a strategic technology agreement, as well as the sale of sel | | | Start / B / Business Wire / December 29, 1999 / Thermatrix Files for Protection Under Chapter 11; Action Necessary To Deter Asset Stripping Pending Debt Settlement. | | | Thermatrix Files for Protection Under Chapter 11; Action Necessary To Deter Asset Stripping Pending Debt Settlement. |
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http://static.elibrary.com/b/businesswire/december291999/thermatrixfilesforprotectionunderchapter11actionne/index.html
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| | Through Metaphor to a Sustainable Ecology of Development Policies |
| | This is a reminder of how policy-makers tend to exploit their position in relation to the resources of captive constituencies and markets, whether this takes the form of "cartel formation", "asset stripping", "environmental degradation" or "resource depletion". |
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http://www.laetusinpraesens.org/docs/polforum.php
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| | Asset Stripping Cartoons |
| | Related topics: merger, mergers, takeover, takeovers, aquisitions, board, the board, chairman, chairmen, director, directors, asset stripper, asset stripping, the city, shareholder, shareholders, stockbroker, stockbrokers, broker, brokers, stock broker, stock brokers, | | | Follow the links at the bottom of this page to search on other topics or to purchase reproduction rights for any of these images or merchandise incorporating the cartoons. | | | You are looking at the "asset stripping" cartoon page from the CartoonStock directory. |
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http://www.cartoonstock.com/directory/a/asset_stripping.asp
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| | The impact of asset stripping on the cost of deposit insurance (Working paper / Division of Research, Harvard Business ... |
| | Store Home / Book / The impact of asset stripping on the cost of deposit insurance (Working paper / Division of Research, Harvard Business School) | | | The impact of asset stripping on the cost of deposit insurance (Working paper / Division of Research, Harvard Business School) - Hotel Resource Book Store | | | The impact of asset stripping on the cost of deposit insurance (Working paper / Division of Research, Harvard Business School) |
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http://www.hotelresource.com/bookstore/asinsearch_B0006P0NKQ.html
(165 words)
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| | Asset stripping - Wikipedia, the free encyclopedia |
| | Asset Stripping is the practice of buying a company in order to sell its assets individually at a profit. | | | Asset stripping is also sometimes used to describe the practice of investors dealing directly with armed militant groups in developing nations to take direct control of assets that legally belong to the state or commons or any group in society that the investor and armed militant can effectively coerce. | | | It has led to deforestation in Africa and Colombia and to other harmful effects. |
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http://en.wikipedia.org/wiki/Asset_stripping
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| | Alexander's Gas & Oil Connections - Western specialists probe Yukos |
| | The audit is expected to end in March. | | | 21-01-02 Yukos has created a committee of Western specialists to help disentangle it from a scandal prompted by a government decision to cancel the privatisation of its stake in Eastern Oil amid allegations of asset stripping. | | | Analysts say TNK was trying to exact revenge on Yukos for vetoing last year a plan by TNK and Itera to form a new company with Rospan's assets. |
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http://www.gasandoil.com/goc/company/cnr20601.htm
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| | The Campaign for Press and Broadcasting Freedom |
| | In the jargon of business, they want 'merger synergies', but in clear English it means asset stripping, cutting jobs and reducing regional programming commitments. | | | Now the pressure is on from the shareholders to do better. | | | Broadcasting as a whole will benefit.' In fact we have seen the squandering of broadcasting assets, based on the regional franchises, which both reflected their regions and contributed distinctive programming to the ITV network. |
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http://keywords.dsvr.co.uk/freepress/body.phtml?doctype=&id=608
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| | [LINK] AustralianIT: Outsourcing as Asset Stripping |
| | However, this transfer is beneficial to the Commonwealth because the legal, financial and technical risks attaching to the ownership of this equipment rests with the contractor, and not the taxpayer. | | | In the Media Release at http://www.dofa.gov.au/scripts/Media.asp?Id=MFA_2000_0710.html Senator Lundy then alleged that the Government's highly conventional treatment of IT assets in an outsourced environment constituted some sort of 'asset strip'. | | | It is true that the risks associated with the ownership of IT assets such as the servers, mainframe equipment, networks and PCs are transferred to the outsourcer as part of the outsourcing model. |
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http://mailman.anu.edu.au/pipermail/link/2000-December/008546.html
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| | after the tsunami |
| | They had to sell off state assets to private companies, open their markets to imported goods, reduce government economic intervention and devalue their currency. | | | The lenders claimed that these programmes would create prosperity to offset debt. | | | But debtor countries had to fulfil key conditions, called structural adjustments, to get debt relief. |
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http://www.channel4.com/news/microsites/T/tsunami/debtrelief_2.html
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