What Corporate bankruptcy Entails
Author: Peter Gitundu
When a public company goes bankrupt, the federal bankruptcy rules govern how it will come out of this financial situation. In this case, the Organization can file a petition under chapter 11 or under chapter 7 depending on the agreement the court will make with the management. Under chapter 11, a company that files for corporate bankruptcy will need to reorganize the business with the aim of becoming profitable again. The management will run all the day-to-day activities of the company but all major financial decisions will be made by the bankruptcy court.
Under chapter 7, or the liquidation chapter, the debtor will be required to sell all the property as a way of paying off the debts accumulated by the debtors. Depending on what type of a company it is, the company may retain their personal property. It if it a limited company, there are rules to protect the personal assets of the individuals involved.
Under the corporate financial distress the stockholders could loose more in case the company went down. Bonds are the debt that the company has promised to pay whereas stock is the unit of ownership that an individual has in a particular company. When the company is doing well the stockholders laugh all the way to the bank but when things are bad and the company is going down, the bondholders will have their turn to laugh all the way to the bank.
When a company has filed under chapter 11, their stock may not be very attractive. Investor may therefore not be willing to invest in this particular company. However, there is no particular federal law that prohibits trade under chapter 11.
Article Source: http://www.articlesbase.com/personal-finance-articles/what-corporate-bankruptcy-entails-912096.html
About the Author
Peter Gitundu Creates Interesting And Thought Provoking Content on Finance. For More Information On How To Deal With Bankruptcy, Read More Of His Articles Here DEALING WITH BANKRUPTCY If You Enjoyed This Article, Make Sure You SUBSCRIBE TO MY RSS FEED!
The Presidents accomplishments?
the bush legacy?
EDUCATION AND EXPERIENCE:
ยท LAW ENFORCEMENT: I was arrested in Kennebunkport, Maine, in 1976 for driving under the influence of alcohol. I pled guilty, paid a fine, and had my driver’s license suspended for 30 days. My Texas driving record has been lost” and is not available.
MILITARY: I joined the Texas Air National Guard and went AWOL. I refused to take a drug test or answer any questions about my drug use. By joining the Texas Air National Guard, I was able to avoid combat duty in Vietnam.
COLLEGE: I graduated from Yale University with a low C average. I was a cheerleader.
PAST WORK EXPERIENCE:
I ran for U.S. Congress and lost.
I began my career in the oil business in Midland, Texas, in 1975. I bought an oil company, but couldn’t find any oil in Texas. The company went bankrupt shortly after I sold all my stock.
I bought the Texas Rangers baseball team in a sweetheart deal that took land using taxpayer money.
With the help of my father and our right-wing friends in the oil industry (including Enron CEO Ken Lay), I was elected governor of Texas.
ACCOMPLISHMENTS AS GOVERNOR OF TEXAS:
I changed Texas pollution laws to favor power and oil companies, making Texas the most polluted state in the Union.
During my tenure, Houston replaced Los Angeles as the most smog-ridden city in America.
I cut taxes and bankrupted the Texas treasury to the tune of billions in borrowed money.
I set the record for the most executions by any governor in American history.
With the help of my brother, the governor of Florida, and my father’s appointments to the Supreme Court, I became President after losing by over 500,000 votes.
ACCOMPLISHMENTS AS PRESIDENT:
I am the first President in U.S. history to enter office with a criminal record.
I invaded and occupied two countries at a continuing cost of over one billion dollars per week.
I spent the U.S. surplus and effectively bankrupted the U.S. Treasury.
I shattered the record for the largest annual deficit in U.S. history.
I set an economic record for most private bankruptcies filed in any 12-month period.
I set the all-time record for most foreclosures in a 12-month period.
In my first year in office, over 2 million Americans lost their jobs and that figure has risen to over 3 million lost jobs by the end of 2003.
I’m proud that the members of my cabinet are the richest of any administration in U.S. history.
My “poorest millionaire,” Condoleeza Rice, has a Chevron oil tanker named after her.
I set the record for most campaign fund-raising trips by a U.S. President.
I am the all-time U.S. and world record-holder for receiving the most corporate campaign donations.
My largest lifetime campaign contributor, and one of my best friends, Kenneth Lay, presided over the largest corporate bankruptcy fraud in U.S. history, Enron.
My political party used Enron private jets and corporate attorneys to assure my success with the U.S. Supreme Court during my election decision.
I have protected my friends at Enron and Halliburton against investigation or prosecution. More time and money was spent investigating the Monica Lewinsky affair than has been spent investigating one of the biggest corporate rip-offs in history.
I presided over the biggest energy crisis in U.S. history and refused to intervene when corruption involving the oil industry was revealed.
I presided over the highest gasoline prices in U.S. history.
I changed the U.S. policy to allow convicted criminals to be awarded government contracts.
I appointed more convicted criminals to administration than any President in U.S. history.
I created the Ministry of Homeland Security, the largest bureaucracy in the history of the United States government.
I’ve broken more international treaties than any President in U.S. history.
I am the first President in U.S. history to have the United Nations remove the U.S. from the Human Rights Commission.
I withdrew the U.S. from the World Court of Law.
I refused to allow inspectors access to U.S. “prisoners of war” detainees and thereby have refused to abide by the Geneva Convention.
I am the first President in history to refuse United Nations election inspectors (during the 2002 U.S. election).
I set the record for fewest number of press conferences of any President since the advent of television.
I set the the all-time record for most days on vacation in any one-year period.
After taking off the entire month of August, 2001, I presided over the worst security failure in U.S. history.
I garnered the most sympathy for the U.S. after the World Trade Center attacks and less than a year later made the U.S. the most hated country in the world, the largest failure of diplomacy in world history.
I have set the all-time record for most people worldwide to simultaneously protest me in public venues (15 million people), shattering the record for protest against any person in the history of mankind.
I am the first President in U.S. history to order an unprovoked, pre-emptive attack and the military occupation of a sovereign nation. I did so against the will of the United Nations, the majority of U.S. citizens, and the world community.
I have cut health care benefits for war veterans and support a cut in duty benefits for active duty troops and their families — in war time.
In my State of the Union Address, I lied about our reasons for attacking Iraq, then blamed the lies on our British friends.
I am the first President in history to have a majority of Europeans (71%) view my presidency as the biggest threat to world peace and security.
I am supporting development of a nuclear “Tactical Bunker Buster,” a WMD.
I have so far failed to fulfill my pledge to bring Osama Bin Laden to justice.
RECORDS AND REFERENCES:
All records of my tenure as governor of Texas are now in my father’s library, sealed and unavailable for public view.
All records of SEC investigations into my insider trading and my bankrupt companies are sealed in secrecy and unavailable for public view.
All records or minutes from meetings that I, or my Vice-President, attended regarding public energy policy are sealed in secrecy and unavailable for public review
Republicans.How many of these allegations can you disprove?
RESUME OF GEORGE BUSH
1600 Pennsylvania Avenue
Washington , DC 20520
EDUCATION AND EXPERIENCE:
LAW ENFORCEMENT
I was arrested in Kennebunkport, Maine, in 1976 for driving under
the influence of alcohol. I pled guilty, paid a fine, and had my
driver’s license suspended for 30 days. My Texas driving record has been “lost” and is not available.
MILITARY
I joined the Texas Air National Guard and went AWOL. I refused to
take a drug test or answer any questions about my drug use. By
joining the Texas Air National Guard, I was able to avoid combat duty in Vietnam.
COLLEGE
I graduated from Yale University with a low C average.
I was a cheerleader.
PAST WORK EXPERIENCE
I ran for U.S. Congress and lost.
I began my career in the oil business in Midland, Texas, in 1975.
I bought an oil company, but couldn’t find any oil in Texas . The
company went bankrupt shortly after I sold all my stock.
I bought the Texas Rangers baseball team in a sweetheart deal that took land using taxpayer money.
With the help of my father and our friends in the oil industry,
including Enron CEO Ken Lay, I was elected governor of Texas.
ACCOMPLISHMENTS AS GOVERNOR OF TEXAS
I changed Texas pollution laws to favor power and oil companies,
making Texas the most polluted state in the Union.
During my tenure, Houston replaced Los Angeles as the most
smog-ridden city in America.
I cut taxes and bankrupted the Texas treasury to the tune of billions in borrowed money.
I set the record for the most executions by any governor in
American history.
With the help of my brother, the governor of Florida, and my
father’s appointments to the Supreme Court, I became President after losing by over 500,000 votes.
ACCOMPLISHMENTS AS PRESIDENT
I am the first President in U.S. history to enter office with a
criminal record.
I invaded and occupied two countries at a continuing cost of over
one billion dollars per week.
I spent the U.S. surplus and effectively bankrupted the U.S.
Treasury. I shattered the record for the largest annual deficit in
U.S. history.
I set an economic record for most private bankruptcies filed in
any 12-month period.
I set the all-time record for most foreclosures in a 12-month period.
I set the all-time record for the biggest drop in the history of
the US stock market.
In my first year in office, over 2 million Americans lost their
jobs and that trend continues every month.
I’m proud that the members of my cabinet are the richest of any
administration in U.S. history. My “poorest millionaire,” Condoleeza
Rice, had a Chevron oil tanker named after her.
I set the record for most campaign fund-raising trips by a U.S.
President. I am the all-time U.S. and world record-holder for
receiving the most corporate campaign donations.
My largest lifetime campaign contributor, and one of my best
friends, Kenneth Lay, presided over the largest corporate bankruptcy fraud in U.S. History, Enron.
My political party used Enron private jets and corporate attorneys
to assure my success with the U.S. Supreme Court during my election decision.
I have protected my friends at Enron and Halliburton against
investigation or prosecution.
More time and money was spent investigating the Monica Lewinsky affair than has been spent investigating one of the biggest corporate rip-offs in history.
I presided over the biggest energy crisis in U.S. history and
refused to intervene when corruption involving the oil industry was revealed.
I presided over the highest gasoline prices in U.S. history.
I changed the U.S. policy to allow convicted criminals to be awarded
government contracts.
I appointed more convicted criminals to administration than any
President in U.S. history.
I created the Ministry of Homeland Security, the largest
bureaucracy in the history of the United States government.
I’ve broken more international treaties than any President in U.S. history.
I am the first President in U.S. history to have the United Nations
remove the U.S. from the Human Rights Commission.
I withdrew the U.S. from the World Court of Law.
I refused to allow inspectors access to U.S. “prisoners of war”
detainees and thereby have refused to abide by the Geneva Convention.
I am the first President in history to refuse United Nations
election inspectors (during the 2002 U.S. election).
I set the record for fewest numbers of press conferences of any
President since the advent of television.
I set the all-time record for most days on vacation in any one-year period.
After taking off the entire month of August, I presided over the
worst security failure in U.S. history.
I garnered the most sympathy for the U.S. after the World Trade
Center attacks and less than a year later made the U.S.the most hated country in the world, the largest failure of diplomacy in world history.
I have set the all-time record for most people worldwide to simultaneously protest me in public venues (15 million people), shattering the record for protests against any person in the history of mankind.
I am the first President in U.S. history to order an unprovoked,
pre-emptive attack and the military occupation of a sovereign nation. I did so against the will of the United Nations, the majority of U.S. citizens, and the world community.
I have cut health care benefits for war veterans and support a cut
in duty benefits for active duty troops and their families-in-wartime.
In my State of the Union Address, I lied about our reasons for
attacking Iraq and then blamed the lies on our British friends.
I am the first President in history to have a majority of Europeans
(71%) view my presidency as the biggest threat to world peace and security.
I am supporting development of a nuclear “Tactical Bunker Buster,” a WMD.
I have so far failed to fulfill my pledge to bring Osama Bin Laden to justice.
RECORDS AND REFERENCES
All records of my tenure as governor of Texas are now in my
father’s library, sealed and unavailable for public view.
All records of SEC investigations into my insider trading and my
bankrupt companies are sealed in secrecy and unavailable for public view.
All records or minutes from meetings that I, or my Vice-President,
attended regarding public energy policy are sealed in secrecy and
unavailable for public review.
alannin
I am not a Democrat.In fact I am not American.
The fact is your governments actions(Republican or Democrat) have world-wide consequences.They have affected my life as well
How can Bush possibly fix the problems in Iraq when he can not even fix the problems we have here in the USA?
Like the high price of gas and everything else that has gone up in price because of it, Immigaration, Millions living either at the poverty level or below it, Unaffordable housing, Medical costs and expensive Health Insurance coverage and over 47 million without it, Homes being forclosed on in record numbers, more personal and corporate Bankruptcies then ever before, the cost of higher education going through the roof, One million Americans homeless and the majority are vets. etc, etc, etc,
Can somebody please explain how,with a record like this, GWB got to become President?
RESUME OF GEORGE W. BUSH
1600 Pennsylvania Avenue
Washington , DC 20520
EDUCATION AND EXPERIENCE:
LAW ENFORCEMENT
I was arrested in Kennebunkport, Maine, in 1976 for driving under
the influence of alcohol. I pled guilty, paid a fine, and had my
driver’s license suspended for 30 days. My Texas driving record has been “lost” and is not available.
MILITARY
I joined the Texas Air National Guard and went AWOL. I refused to
take a drug test or answer any questions about my drug use. By
joining the Texas Air National Guard, I was able to avoid combat duty in Vietnam.
COLLEGE
I graduated from Yale University with a low C average.
I was a cheerleader.
PAST WORK EXPERIENCE
I ran for U.S. Congress and lost.
I began my career in the oil business in Midland, Texas, in 1975.
I bought an oil company, but couldn’t find any oil in Texas . The
company went bankrupt shortly after I sold all my stock.
I bought the Texas Rangers baseball team in a sweetheart deal that took land using taxpayer money.
With the help of my father and our friends in the oil industry,
including Enron CEO Ken Lay, I was elected governor of Texas.
ACCOMPLISHMENTS AS GOVERNOR OF TEXAS
I changed Texas pollution laws to favor power and oil companies,
making Texas the most polluted state in the Union.
During my tenure, Houston replaced Los Angeles as the most
smog-ridden city in America.
I cut taxes and bankrupted the Texas treasury to the tune of billions in borrowed money.
I set the record for the most executions by any governor in
American history.
With the help of my brother, the governor of Florida, and my
father’s appointments to the Supreme Court, I became President after losing by over 500,000 votes.
ACCOMPLISHMENTS AS PRESIDENT
I am the first President in U.S. history to enter office with a
criminal record.
I invaded and occupied two countries at a continuing cost of over
one billion dollars per week.
I spent the U.S. surplus and effectively bankrupted the U.S.
Treasury. I shattered the record for the largest annual deficit in
U.S. history.
I set an economic record for most private bankruptcies filed in
any 12-month period.
I set the all-time record for most foreclosures in a 12-month period.
I set the all-time record for the biggest drop in the history of
the US stock market.
In my first year in office, over 2 million Americans lost their
jobs and that trend continues every month.
I’m proud that the members of my cabinet are the richest of any
administration in U.S. history. My “poorest millionaire,” Condoleeza
Rice, had a Chevron oil tanker named after her.
I set the record for most campaign fund-raising trips by a U.S.
President. I am the all-time U.S. and world record-holder for
receiving the most corporate campaign donations.
My largest lifetime campaign contributor, and one of my best
friends, Kenneth Lay, presided over the largest corporate bankruptcy fraud in U.S. History, Enron.
My political party used Enron private jets and corporate attorneys
to assure my success with the U.S. Supreme Court during my election decision.
I have protected my friends at Enron and Halliburton against
investigation or prosecution.
More time and money was spent investigating the Monica Lewinsky affair than has been spent investigating one of the biggest corporate rip-offs in history.
I presided over the biggest energy crisis in U.S. history and
refused to intervene when corruption involving the oil industry was revealed.
I presided over the highest gasoline prices in U.S. history.
I changed the U.S. policy to allow convicted criminals to be awarded
government contracts.
I appointed more convicted criminals to administration than any
President in U.S. history.
I created the Ministry of Homeland Security, the largest
bureaucracy in the history of the United States government.
I’ve broken more international treaties than any President in U.S. history.
I am the first President in U.S. history to have the United Nations
remove the U.S. from the Human Rights Commission.
I withdrew the U.S. from the World Court of Law.
I refused to allow inspectors access to U.S. “prisoners of war”
detainees and thereby have refused to abide by the Geneva Convention.
I am the first President in history to refuse United Nations
election inspectors (during the 2002 U.S. election).
I set the record for fewest numbers of press conferences of any
President since the advent of television.
I set the all-time record for most days on vacation in any one-year period.
After taking off the entire month of August, I presided over the
worst security failure in U.S. history.
I garnered the most sympathy for the U.S. after the World Trade
Center attacks and less than a year later made the U.S.the most hated country in the world, the largest failure of diplomacy in world history.
I have set the all-time record for most people worldwide to simultaneously protest me in public venues (15 million people), shattering the record for protests against any person in the history of mankind.
I am the first President in U.S. history to order an unprovoked,
pre-emptive attack and the military occupation of a sovereign nation. I did so against the will of the United Nations, the majority of U.S. citizens, and the world community.
I have cut health care benefits for war veterans and support a cut
in duty benefits for active duty troops and their families-in-wartime.
In my State of the Union Address, I lied about our reasons for
attacking Iraq and then blamed the lies on our British friends.
I am the first President in history to have a majority of Europeans
(71%) view my presidency as the biggest threat to world peace and security.
I am supporting development of a nuclear “Tactical Bunker Buster,” a WMD.
I have so far failed to fulfill my pledge to bring Osama Bin Laden to justice.
RECORDS AND REFERENCES
All records of my tenure as governor of Texas are now in my
father’s library, sealed and unavailable for public view.
All records of SEC investigations into my insider trading and my
bankrupt companies are sealed in secrecy and unavailable for public view.
All records or minutes from meetings that I, or my Vice-President,
attended regarding public energy policy are sealed in secrecy and
unavailable for public review.
Can someone help me with court cases in business law?
I’m doing a project and need to find examples of court cases for these types of law: bankruptcy, consumer, corporate, education, entertainment, media, and military. Any help whatsoever would be greatly appreciated.
Type each of those areas into the search bar at the top of the answers page where your question is posted and you will get info on each area of practice.~
And his foreign policies…. it will take many years for the world to recover from the damage he has done.
ALL of that is fact and not fiction.
I hope the Republicans read it and weep.
I think its great that you gave us this info, but just when things start looking up for my family I am reminded of the waste our country has made making this man our president once again. Thank you though for your comments. Alot of that I did not know and will have to research.
Don’t blame me, I voted for Ralph Nader. I’ve been begging my representatives to Impeach this blistering SSI-case since the day AFTER his first “election.”
I’m dumbfounded only in that there are still people who support Doofus. Unreal.
We need to get our National Guard troops back to our own affairs and protecting our national borders, not Iraq.