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n the legal process by which a person, business, or corporation is declared to be insolvent and unable to pay creditors.
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This case emphasizes that a bankruptcy proceeding under Chapter 11 does not affect the S corporation status of an entity.
Alan Owens, partner of law-firm Irwin Mitchell, who is representing timeshare victims, said: 'If Palmer does go through bankruptcy proceedings then the true extent of his wealth will be revealed.
Under the TSE's existing rules, companies that have opted for legal bankruptcy proceedings are delisted regardless of whether their actions are intended to simply dissolve their businesses or rebuild their operations under the Corporate Rehabilitation Law or the Civil Rehabilitation Law.
The increase came mainly during the second quarter which saw bankruptcy proceedings soar by 40% compared to the second quarter of 2001, the state statistics agency said.
Typically, a filing invokes the Code's "automatic stay," which means, for most kinds of debt, that all collection actions are immediately put on hold until the bankruptcy proceeding begins.
Deeply in debt and mired in a bankruptcy proceeding two years ago, the 30-year-old office copier and facsimile equipment company crafted and implemented a rigorous plan to get back in the black.
Maxicare and its creditors' committee opposed the motions because the removal of profitable plans from the bankruptcy proceedings would reduce the funds available to protect their interests.
com/research/90cdfd/what_bankruptcy_la) has announced the addition of the "What Bankruptcy Lawyers Need to Know About Insurance Issues that May Arise from Bankruptcy Proceedings in 2011 " audioconference to their offering.
Take active participation in coordinating and conducting activities in relation to the bankruptcy proceedings stated in Project activity
Banks, farming companies, building firms, leather and shoe-producing facilities and many other factories in Macedonia have been stuck in bankruptcy proceedings for decades.
A federal judge ruled Wednesday that Santa Paula Memorial Hospital can free hundreds of thousands of dollars from its bankruptcy proceedings to pay more than 200 employees set to be laid off next month.
In these cases, the courts held that the Service's policy of refusing to consider offers from debtors in bankruptcy proceedings violates Bankruptcy Code provisions prohibiting discrimination against persons who have filed bankruptcy.