Global Economic Cooperation or Bust

Bankruptcy Comes to China

So that's bankruptcy.

Or consider bankruptcies and defaults by households and firms.

Sami declared bankruptcy.

Down and Out in Athens and Brussels

A sovereign default () is the failure or refusal of the government of a sovereign state to pay back its debt in full.

Banks were on the verge of bankruptcy and nationalization.

For some, low prices would render them insolvent.

Mama, I try so hard to keep you romantic.

Mass financial failure is costly, even if no one, big or small, is bailed out.

It also won't allow Puerto Rico to restructure its debt or change the fact that the island can't benefit from US Bankruptcy Law.

When private borrowers default, bankruptcy courts supervise a bankruptcy or reorganization process through which even unsecured creditors can hope to recover something.

One thinks of creditors with claims on the assets of one of the parties, or a trustee in bankruptcy, or a government regulator.

The Bankrupt Theology of Financial Deregulation

As the economy improves, failure is less likely.

It's the IMF Sovereign Bankruptcy Plan, OK?

There are no quick processes in economics except decline.

Bankruptcy should allow local governments to renegotiate their bond debt and, perhaps, their retired employees pension and health care costs (that s up to a bankruptcy judge).

In the US, the main design defects are in bankruptcy law, which exempts derivatives and repos from most regular bankruptcy constraints.

Bankruptcy laws were amended to introduce a system of partial indentured servitude.

A number of countries have implemented reforms to bankruptcy law.

But you lose that contract for a major brand name, that's the difference between staying in business or going bankrupt.

(c) The processing of bankruptcy applications from businessmen the investigation of negligent or fraudulent bankruptcies and the initiation and prosecution of criminal proceedings in accordance with the procedures established by law

It provides specific rules of jurisdiction, applicable law and recognition of judgements, while enhancing coordination of the measures to be taken regarding an insolvent debtor's assets.

Short of a miracle, Greece looks close to insolvency.

Employed in the civil division as president of the bankruptcy division and the civil petition chamber.

People are going to throw us out if we don't solve this problem of hunger and being broke.

The Obama administration also seems to be heading toward regulating derivatives and financial institutions deemed too big to fail.

That is why, for domestic debt disputes, countries have bankruptcy laws and courts.

As the downturn deepens, several countries may, for example, face bankruptcy.

With these sacrifices, Greece did avoid bankruptcy and the eurozone avoided a collapse.

If no viable solution is found, no agency or individual will be willing to serve as the receiver in ordinary bankruptcy cases.

They remain badly in need of protection from the threat of insolvency.

Despite communism s ideological bankruptcy, China has not changed in this regard.

At the same time, in bankruptcies, it is important to safeguard productive assets.

The possibility of restructuring balances the interests of stakeholders and uses legal protections to help potentially risky enterprises prevent or avoid bankruptcy if a bailout is worthwhile or possible.

If not, Greece will have less control over its adjustment and potentially experience far greater trauma, perhaps eventually outright default.

This system has worked quite well since the nineteenth century, even though (or because) it involved a substantial number of state bankruptcies.

Among the exceptions enabling such retroactive dismissal are lack of knowledge of the pregnancy at the time of the dismissal, proven severe circumstances, bankruptcy or liquidation, or ceasing of operation due to unexpected circumstances.

Yet another concern is that in some cases secured creditors may take most or all of a person's assets in the case of insolvency and leave little for unsecured creditors, some of whom are not in a position to bargain for a security right in those assets.

In a domestic setting, bankruptcy and default are common.

Most public sector industries have been near bankruptcy until saved by competition and privatization.

In the early ninties Marimekko was in a bad financial condition and was considered ready for bankruptcy.

Forget broke, we could build a better future right now!