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| | Debtor Creditor Law |
 | | Second, if a debtor is insolvent both before and after the forgiveness of debt, his or her tax attributes (net operating losses, credits, basis) are reduced to offset the indebtedness income but the excess is not treated as income. | | | The foreclosure of a real estate mortgage is a judicial process that begins when a debtor is notified that a loan is in default and that the lender is “accelerating” the debt, meaning that the entire loan amount is now due. | | | If a lender has a security interest in property such as livestock and machinery, it may repossess that property if the debtor is delinquent on the debt, has received notice of the delinquency, and has been unable to cure any default. |
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http://www.nebls.com/farm_debtor_creditor_law_in_nebraska.htm
(1951 words)
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| | CLAMP-ALL CORPORATION, Debtor |
| | It is undisputed that Foresta and Caliber transmitted their proposed competing plan of reorganization and unapproved disclosure statement to all of the Debtor's creditors while the Debtor had the exclusive right to propose a reorganization plan and before the scheduled hearing to approve its disclosure statement. | | | As a result, approval of the Debtor's disclosure statement was denied and the exclusivity period was further extended. | | | In light of the foregoing, the Debtor is ordered to file a Second Amended Plan of Reorganization, a Second Amended Disclosure Statement and a motion to approve same, on or before June 14, 1999. |
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http://www.craigmacauley.com/cases/5-7-99.htm
(6280 words)
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| | Being Held Personally Liable for Debtor Company's Unpaid Taxes |
| | The IRS filed a tax claim in the debtor's case for the corporation's tax debt, pursuant to Internal Revenue Code §6901, claiming that the transfer of assets from the corporation to the debtor was a fraudulent transfer under Colorado law, and therefore, the corporation's tax liability represented a nondischargeable tax claim. | | | Shareholders need to be concerned with transferee liabilities for taxes of the debtor corporation if assets were transferred to the shareholder prior to the bankruptcy filing. | | | Thus, a corporate tax liability of a debtor for which an officer or director is personally liable can continue to grow exponentially until paid. |
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http://www.gtlaw.com/pub/articles/2001/kirsnerm01b.htm
(2523 words)
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| | CHRISTOPHER PILAVIS, Debtor |
| | As Debtor's uncontradicted testimony was that he then had no significant debts, other than the mortgage indebtedness secured by the Medford Property, I conclude that Debtor had a net worth of $ 140,000 on January 1, 1990. | | | It is not clear from the testimony whether Debtor was valuing his interest only or the total value of the Medford Property over its mortgages. | | | As to real estate, that time is when the transfer is so far perfected that a good-faith purchaser of the asset from the debtor against whom applicable law permits the transfer to be perfected cannot acquire an interest in the asset that is superior to the interest of the transferee. |
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http://www.craigmacauley.com/cases/5-3-99.htm
(4570 words)
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| | Bankruptcy Exemptions |
| | The self-employed debtor must rely upon the exemption for unpaid commissions for personal services which is included in the property subject to the exemption cap and cannot exceed 25% of the cap. | | | Insurance benefits: There is an unlimited exemption of insurance benefits to the debtor who is the designated beneficiary of an insurance policy. | | | If the bankruptcy debtor chooses the Texas exemptions, insurance benefits are fully exempt in a bankruptcy proceeding of either the insured or the beneficiary. |
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http://www.dallas-bankruptcy.com/bankruptcy_exemptions.htm
(1815 words)
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| | Debtor's Prison |
| | By forcing debtors to become fully responsible for their debts, and by not allowing them to avoid payment of a debt by remaining idle or remaining poor, we would very likely bring more responsible behavior to other areas of their lives. | | | Apart from the benefit debtors prisons would have on making it easier for the poor to succeed in business by allowing them to collect from their debtors, more readily available credit would also make it easier for the poor to start businesses or to otherwise make meaningful investments. | | | We should instead revive debtors prisons merely as a means of getting those who have incurred debts to pay their bills. |
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http://www.jesbeard.com/w2.htm
(1723 words)
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| | Credit Management and Loss Prevention and Debt Recovery and Collection Program |
| | Debtor Alert gives you credit control but does not provide you with a credit report because it is not a credit reporting agency. | | | Registering or retrieving debtor information that is valuable to your business and others costs only $5.00 CDN. | | | Search the Debtor Alert database before you enter into a new business relationship and find out if your prospective client owes money to other businesses but is not paying. |
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http://www.debtoralert.com
(375 words)
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| | [No title] |
| | A Chapter 7 debtor is an individual or entity whose expenses exceed its income. | | | In essence, the personal assets of stockholders of the debtor corporation are not at risk, unlike a company that is owned by an individual and that is not incorporated in any form. | | | During this breathing spell, the debtor can and will commence negotiations with its creditors in an effort to negotiate its debts and to propose a reorganization plan. |
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http://www.411bankruptcy.com/whatisbankruptcy.asp
(861 words)
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| | Minnesota Bankruptcy & Workout Law: Commercial Creditor/Debtor |
| | The discharge extinguishes the debtor's remaining liability on the debt. | | | The disclosure statement contains detailed information about the debtor's assets and liabilities and is meant to be used by the creditors to evaluate the debtor's plan of reorganization. | | | The debtor turns over some or all of his or her debts and assets to the trustee, and the trustee then liquidates the property by selling it off and dividing the resulting cash among the creditors. |
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http://www.weblocator.com/attorney/mn/law/brupwork.html
(3553 words)
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| | Daily Record (Rochester, NY): U.S. Bankruptcy Court judge finds debtor's student loans were not |
| | The debtor testified that between 1995 and 2000, she made monthly payments of $337.04 for student loans at a time when her yearly income was less than it is currently. | | | Because the debtor now derives sufficient income both to pay her student loan and to preserve a minimal living standard, her student loan obligations are not dischargeable in the present instance. | | | Unless the debtor can demonstrate extraordinary circumstances, I must find that the debtor earns sufficient income both to pay $4,000 per year on account of her student loan and to maintain a minimal living standard, the judge concluded. |
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http://www.findarticles.com/p/articles/mi_qn4180/is_20050623/ai_n14679173
(944 words)
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| | Legal Definition of Debtor |
| | A debtor is bound to pay his debt personally, and all the estate he possesses or may acquire, is also liable for his debt. | | | DEBTOR - A person or entity who owes an obligation of a fixed or certain amount. | | | When they are severally bound each may be sued separately, and on the payment of debt by one, the others will be bound to contribution where all had participated in the money or property which was the cause of the debt. |
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http://www.lectlaw.com/def/d014.htm
(163 words)
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| | Fix Debt - Free Online Debt Help |
| | In chapter 13 bankruptcy cases debtors reorganize their finances by paying a portion of what they owe as settlement in full of their debts. | | | The brief information here as well as the extensive articles and pre-qualification questionnaires from a debtor attorney should educate you about debt consolidation loans, credit counseling, debt settlement and bankruptcy, it should not be considered legal advice or a replacement for finding your own attorney. | | | GetSmart provides debt consolidation loans for debtors who own their house; Lendingtree offers secured debt consolidation and some personal loan options for good credit debtor's who do not own property. |
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http://www.fix-debt.com
(1209 words)
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| | Debtor's Rights |
| | A judgment debtor's government benefits are normally totally exempt from execution. | | | A debtor is someone who owes a debt or money to someone else. | | | If two or more members of a household are judgment debtors, each person is entitled to claim these exemptions in the same or different property. |
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http://www.osbar.org/public/legalinfo/1021.htm
(1497 words)
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| | Bankruptcy - Wex |
| | An additional purpose of bankruptcy law is to allow certain debtors to free themselves (to be discharged) of the financial obligations they have accumulated, after their assets are distributed, even if their debts have not been paid infull. | | | Certain bankruptcy proceedings allow a debtor to stay in business and use revenue generated to resolve his or her debts. | | | After a bankruptcy proceeding is filed, creditors, for the most part, may not seek to collect their debts outside of the proceeding. |
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http://www.law.cornell.edu/topics/bankruptcy.html
(660 words)
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| | : GN 02210.217 - Debtor Unable or Unwilling To Refund Overpayment - DCR/DS Actions - 02/21/2002 |
| | If appropriate, tell the debtor that the debt is subject to administrative offset (see SI 02220.013), credit bureau reporting (see SI 02220.014) and we may collect in the future by cross program recovery (see SI 02220.020). | | | If a debtor alleges inability to repay a title XVI debt, obtain financial information from the debtor as in GN 02210.217A.1. | | | Diary the case for 60 days in order to determine if debtor was subsequently selected for TOP and credit bureau reporting (if appropriate). |
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http://policy.ssa.gov/poms.nsf/lnx/0202210217
(2301 words)
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| | In re Randall L. MUNGER, Debtor. |
| | Debtor acknowledged service of process but failed to answer, and on April 7, 1997, a default judgment was entered, triggering Debtor's statutory six-month redemption period. | | | Notwithstanding subsection (b)(2) and applicable nonbankruptcy law--(a) a default with respect to, or that gave rise to, a lien on the debtor's principal residence may be cured under paragraph (3) or (5) of subsection (b) until such residence is sold at foreclosure sale that is conducted in accordance with applicable nonbankrupcty law | | | By the clear language of 11 U.S.C. § 1322(c)(1), [FN2] a default may be cured in a Chapter 13 until a debtor's principal residence is sold at a foreclosure sale. |
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http://www.vtb.uscourts.gov/opinions/published/1998wl470410.html
(1385 words)
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| | Bankruptcy Lawyers. Attorneys & Law Firms for Filing Bankruptcy, Chapter 7 & 13 |
| | Under the federal bankruptcy statute, a discharge is a release of the debtor from personal liability for certain specified types of debts. | | | The bill strengthens the disclosure requirements for reaffirmation agreements so that debtors will be better informed about their rights and responsibilities. | | | The Bankruptcy Code provides that creditors must stop all collection efforts against the debtor, and allows the debtor to organize his assets and settle his debt and credit accounts in a feasible manner. |
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http://www.bankruptcylawfirms.com
(721 words)
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| | Debtor and creditor - Wex |
| | If a creditor has a priority his debt must be paid when the debtor becomes insolvent before other debts. | | | Replevin allows a creditor to seize goods, such as a security interest, that he or she has a property interest in, to satisfy the debt. | | | Federal and state statutes, and the Federal Consumer Credit Protection Act also limit the type of property that can be used to satisfy a debt. |
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http://www.law.cornell.edu/topics/debtor_creditor.html
(566 words)
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| | 11 USC 109. Who may be a debtor |
| | The definition of child support and spousal maintenance made not dischargeable in Chapters 7, 11, 12, and 13 by §523(a)(5) and (18) (referring to support owed to a State or municipality) is replaced by "domestic support obligation" which is defined in §101(14A). | | | For purposes of this subsection, the term "return" means a return that satisfies the requirements of applicable nonbankruptcy law (including applicable filing requirements). | | | (6) for willful and malicious injury by the debtor to another entity or to the property of another entity; |
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http://www.doney.net/bra/523.htm
(1912 words)
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| | Forbes.com: US net debtor gap grew to record $2.387 tln in '02 |
| | Since 1985, the United States has been a net debtor country, meaning its financial claims and assets in the rest of the world are outweighed by foreigners' investments here. | | | Commerce said the larger gap in 2002 was due to large purchases of American corporate and government debt by foreigners, a shift by U.S. investors to being net sellers of foreign securities from net buyers and large stock market price drops that decreased the value of U.S.-held assets overseas. | | | In its annual report on the nation's international investment position, the Commerce Department said the gap between U.S. and foreign investments had increased by $407.31 billion from a revised $1.980 trillion seen in 2001. |
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http://www.forbes.com/technology/futuretech/newswire/2003/06/30/rtr1014934.html
(458 words)
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| | Guardian Unlimited Business Business latest Debtor nations need a financial system that allows them to work their way ... |
| | A big financial architectural change will require developing a system where the creditor nations accept a large share of the responsibility for making adjustments by spending their excessive reserve holdings on imports or direct foreign in vestment. | | | Debtor nations need a financial system that allows them to work their way to prosperity | | | If the global economy abandons the dollar and adopts a euro standard, global aggregate demand would fall by more than $500bn. |
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http://www.guardian.co.uk/business/story/0,3604,1096842,00.html
(879 words)
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| | BBC NEWS Business How I shook off the shackles of debt |
| | Elizabeth and Michael took advice from Payplan, a debt management firm that does not charge the debtor a fee, and drew up a budget and schedule of repayments. | | | In 2000, when ill health forced Elizabeth Chapman, 56, to retire from her job as a help desk supervisor she was unprepared for the financial consequences. | | | What most readers fail to grasp is that even the most disciplined individual due to unforeseen circumstances can end up in debt. |
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http://news.bbc.co.uk/1/hi/business/3858095.stm
(1878 words)
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| | US CODE: Title 11,362. Automatic stay |
| | (7) the setoff of any debt owing to the debtor that arose before the commencement of the case under this title against any claim against the debtor; and | | | (A) the debtor does not have an equity in such property; and | | | (1) the party requesting such relief has the burden of proof on the issue of the debtor’s equity in property; and |
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http://www4.law.cornell.edu/uscode/11/362.html
(1017 words)
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| | FREE INFORMATION ON DEBTOR/CREDITOR LAW |
| | The employer is entitled to keep a small amount of the proceeds of the garnishment for bookkeeping costs. | | | An unsatisfied judgment may be picked up by a credit reporting agency and remain part of the data base of that credit reporting agency. | | | (3) The judgment debtor may have assets at its place of business, such as inventory, which may be used by the judgment creditor to satisfy the judgment; |
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http://www.milchlaw.com/faq.htm
(1715 words)
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| | : GN 02210.218 - Debtor Inquiry - DCR/DS Actions - 09/30/2005 |
| | If a request for an explanation of administrative offset is received, explain that as indicated in the pre-offset notice, Congress passed laws which allow Treasury to withhold past-due SSA overpayments from Federal payments, including income tax refunds due the overpaid person. | | | Obtain (or verify) the debtor's telephone number and address and, where appropriate, update the RECOOP accordingly. | | | Also, explain that bills or any followup contact will be directed to the debtor. |
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http://policy.ssa.gov/poms.nsf/lnx/0202210218
(475 words)
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| | Northwestern Financial Review: PANEL REQUIRES INDIVIDUAL DEBTOR'S LEGAL NAME to perfect security interest |
| | Secured parties should heed the Panel's finding in Kinderknecht and list the full legal name of individual debtors on UCC financing statements. | | | 2004)), the Panel held that the secured party must list the individual debtor's exact legal name on the financing statement to have a perfected security interest in the debtor's property. | | | Third, the Panel's holding helps decrease litigation over whether a reasonable searcher would have searched under debtor's nickname. |
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http://www.findarticles.com/p/articles/mi_qa3799/is_200503/ai_n13461286
(478 words)
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| | Debtor - Wikipedia, the free encyclopedia |
| | In writing ledger accounts a debtor's amount is written on the debit (Dr) side, as the name suggests. | | | In economics a debtor (or a borrower) owes money to a creditor. | | | This page was last modified 20:10, 6 February 2006. |
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http://en.wikipedia.org/wiki/Debtor
(74 words)
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| | EconPapers: International financial rescues and debtor-country moral hazard |
| | The safety net implied by policy changes to permit exceptional access is shown to have a greater marginal impact on the use of official sector resources, the more systemically important the debtor country is. The paper's results can be interpreted as offering some support for the presence of debtor-country moral hazard. | | | Abstract: In this paper the question of whether recent international policy initiatives to facilitate financial rescues in emerging market countries have influenced debtors' incentives to access official sector resources is examined. | | | A country's systemic importance is highlighted as a key characteristic that drives access to official sector finance. |
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http://econpapers.repec.org/paper/boeboeewp/217.htm
(255 words)
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| | Past Due! |
| | Part One: The Open - This is the specific way in which you identify yourself, your company and the debt problem. | | | All about collecting past due invoices, debt collections, accounts receivable, collection agencies, small business collections, SOHO, outstanding invoices, secrets of getting debtors to pay and much, much more! | | | If you know the right techniques you can not only get your money, you can actually help that person find a way out of their financial maze! |
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http://www.tiare.com/pastdue.htm
(2059 words)
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| | DEBTOR Discovery |
| | Obtain current phone numbers, uncover assets, and identify relatives and business affiliations with DEBTOR Discovery's ability to automatically link current and historical data. | | | Locator Report identifies debtor's possible addresses and phone numbers, relatives and associated businesses. | | | Three levels of access allow administrators to tailor usage in accordance with departmental needs — decreasing training time, increasing productivity and controlling expenses. |
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http://www.debtordiscovery.com
(205 words)
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| | U.C.C. - ARTICLE 9 -§9-105. |
| | (d) "Debtor" means the person who owes payment or other performance of the obligation secured, whether or not he owns or has rights in the collateral, and includes the seller of accounts or chattel paper. | | | (a) "Account debtor" means the person who is obligated on an account, chattel paper or general intangible; | | | Where the debtor and the owner of the collateral are not the same person, the term "debtor" means the owner of the collateral in any provision of the Article dealing with the collateral, the obligor in any provision dealing with the obligation, and may include both where the context so requires; |
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http://www.law.cornell.edu/ucc/9/9-105.html
(616 words)
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| | Digital Chosunilbo (English Edition) : Daily News in English About Korea |
| | The recent issue of Newsweek magazine (Sept. 6) pointed that president Roh Moo-hyun¡¯s continuing pursuit of mega projects such as the administrative capital transfer that need excessive government fund spending may lead Korea into a debtor state. | | | With a per capita income of only US$10,000, Korea has tax rates that now equal those of nations with incomes of US$20,000 to US$30,000, and higher levels of welfare services. | | | Despite the rising tax rates, Korea last year became a net debtor for the first time ever. |
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http://english.chosun.com/w21data/html/news/200408/200408300054.html
(336 words)
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| | Bankruptcy Forms Manual |
| | Committee Notes (9A-I) Chapter 7 Individual or Joint Debtor No Asset Case (10/05) | | | B 23 Debtor's Certification of Completion of Instructional Course Concerning Financial Management (10/05) | | | B 8 Chapter 7 Individual Debtor's Statement of Intention |
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http://www.uscourts.gov/bkforms/bankruptcy_forms.html
(954 words)
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| | Third Circuit Holds Creditors’ Committee Lacks Capacity to Invoke Section 544(b) to Avoid Fraudulent Transfer Claims |
| | Similarly, debtors and secured lenders will certainly have to address how the investigation of the liens and security interests of prepetition secured lenders will be conducted. | | | It is unclear at this point what effect the Cybergenics case will have upon certain standard provisions in many debtor-in-possession financing orders. | | | For example, bankruptcy courts within the Third Circuit might feel compelled to limit releases by debtors of their prepetition secured lenders that provide DIP financing. |
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http://www.gtlaw.com/pub/alerts/2002/cousinss_10.asp
(1583 words)
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| | Debtor Nation |
| | Last year the US economy (business and households as well as the federal government) was compelled to borrow $540 billion from overseas creditors. | | | At the current pace, the foreign debt load will double again in the next six or seven years. | | | Since the United States first became a debtor nation fifteen years ago, it has accumulated nearly $3 trillion in debt obligations abroad. |
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http://www.thenation.com/docprint.mhtml?i=20040510&s=greider
(3474 words)
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| | Coalition for Consumer bankruptcy Debtor Education |
| | A project of The Coalition for Consumer Bankruptcy Debtor Education a §501(c)(3) not for profit corporation; Authorized by the United States Bankruptcy Court for the Eastern District of New York | | | If you are a teacher, accountant, financial planner, banker, lawyer, community development leader or just want to learn more about our program and be trained as a debtor educator, go to Train the Trainers. | | | If you are an academic, community group or federal, state and local government official, we provide material about financial literacy education. |
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http://www.debtoreducation.org
(233 words)
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| | IngentaConnect International Financial Rescues and Debtor-Country Moral Hazard |
| | The safety net permitting exceptional access is shown to have a greater marginal impact on official sector resource usage, the more systemically important the debtor country. | | | This paper examines whether recent international policy initiatives to facilitate financial rescues in emerging market countries have influenced debtors' incentives to access official sector resources. | | | It estimates the effect of these financial rescue initiatives on IMF programme participation using a pooled probit model. |
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http://www.ingentaconnect.com/content/bpl/infi/2004/00000007/00000003/art00002
(165 words)
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| | C.L.E. Type Discussions re Debtor-Creditor Matters |
| | Schedule J -- Current Expenditures of Individual Debtor(s) | | | Schedule I -- Current Income of Individual Debtor(s) | | | The Beginnings of a Business Bankruptcy Case -- Representing the Debtor |
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http://vls.law.vill.edu/prof/cohen/cletranscripts/index.htm
(763 words)
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| | Forbes.com: Footstar says court approves $300 mln in debtor funds |
| | The credit facility, along with existing cash and cash flow from operations, are available to help fund the company's operations during the Chapter 11 bankruptcy protection process, the West Nyack, New York-based company said. | | | SAN FRANCISCO, March 3 (Reuters) - Shoe retailer Footstar Inc. | | | on Wednesday said a bankruptcy court judge had authorized access to a new $300 million debtor in possession financing package committed to it by a bank group led by Fleet National Bank and GECC Capital Markets Group Inc. |
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http://www.forbes.com/markets/newswire/2004/03/03/rtr1285325.html
(403 words)
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| | Warning sounded for US high foreign debt: Comment |
| | Economists from Goldman Sachs Group Inc., estimate that foreign debt will account for 46 percent of US GDP by 2006. | | | Warning sounded for US high foreign debt: Comment | | | As the world biggest debtor nation, America has been seeing a soaring national debt. |
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http://english.people.com.cn/200402/07/eng20040207_134176.shtml
(883 words)
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| | COURT WATCH from Bankers Online.com |
| | Drivers' Licenses are of particular concern to financial institutions as they follow the dictates of their Customer Identification Programs when new customers establish their banking relationships. | | | If your institution finances used vehicle dealers and takes a security interest in the dealer's trade-ins, this case will be of interest to you. | | | A California Appellate Court Decision which held the enforceability of a dragnet clause in a loan agreement was dependent on the reasonable expectations of the parties. |
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http://www.bankersonline.com/infovault/courtwatch.html
(10805 words)
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| | United States Bankruptcy Courts |
| | To repay creditors in an orderly manner to the extent that the debtor has property available for payment | | | To give an honest debtor a "fresh start" in life by relieving the debtor of most debts, and |
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http://www.uscourts.gov/bankruptcycourts.html
(130 words)
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| | LAWDOG Bankruptcy: Co-Debtor & Personal Guarantee |
| | However, a special "co-debtor" stay provision may apply to a consumer debt where the debtor has filed a Chapter 13 Bankruptcy. | | | Also, where a personal guarantor is not the debtor in bankruptcy, the automatic stay provisions may not prohibit a creditor from pursuing payment from the non-bankrupt personal guarantor. | | | Where a Bankruptcy petition has been filed by only one of the co-debtors, a creditor generally may be permitted to pursue payment from the non-bankrupt co-debtor. |
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http://www.lawdog.com/bkrcy/bkcp13f.htm
(212 words)
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