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Hidden Asset
In finance, a hidden asset is an asset that is not shown on a balance sheet. An example of such an asset is the US$15 billion that United Airlines' frequent flyer program, MileagePlus, was estimated to be worth when it filed for Chapter 11 bankruptcy. In divorce Divorce (also known as dissolution of marriage) is the process of terminating a marriage or marital union. Divorce usually entails the canceling or reorganizing of the legal duties and responsibilities of marriage, thus dissolving the ... cases, a hidden asset is a property that is hidden by one spouse from the other and, as a result, is more difficult to discover during divorce proceedings. References Asset {{law-term-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset
In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). The balance sheet of a firm records the monetaryThere are different methods of assessing the monetary value of the assets recorded on the Balance Sheet. In some cases, the ''Historical Cost'' is used; such that the value of the asset when it was bought in the past is used as the monetary value. In other instances, the present fair market value of the asset is used to determine the value shown on the balance sheet. value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business. Assets can be grouped into two major classes: tangible assets and intangible assets. Tangible assets contain various subclasses ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balance Sheet
In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a "snapshot of a company's financial condition". Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business's calendar year. A standard company balance sheet has two sides: assets on the left, and financing on the right–which itself has two parts; liabilities and ownership equity. The main categories of assets are usually listed first, and typically in order of liquidity. Assets are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Airlines
United Airlines, Inc. (commonly referred to as United), is a major American airline headquartered at the Willis Tower in Chicago, Illinois.Destinations Served . United Airlines Official Statistics. United operates a large domestic and international route network spanning cities large and small across the United States and all six inhabited continents. Measured by fleet size and the number of routes, it is the third-largest airline in the world after its merger with in 2010. United has eight hubs, wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Frequent Flyer
A frequent-flyer program (American English) or frequent-flyer programme (British English) is a loyalty program offered by an airline. Many airlines have frequent-flyer programs designed to encourage airline customers enrolled in the program to accumulate points (also called miles, kilometers, or segments) which may then be redeemed for air travel or other rewards. Points earned under FFPs may be based on the class of fare, distance flown on that airline or its partners, or the amount paid. There are other ways to earn points. For example, in recent years, more points have been earned by using co-branded credit and debit cards than by air travel. Another way to earn points is spending money at associated retail outlets, car hire companies, hotels, or other associated businesses. Points can be redeemed for air travel, other goods or services, or for increased benefits, such as travel class upgrades, airport lounge access, fast track access, or priority bookings. Frequent-flyer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MileagePlus
MileagePlus is the loyalty program of United Airlines and Aeromar that offers rewards to passengers traveling on certain types of tickets. Following the 2011 merger agreement between United Airlines and Continental Airlines, United Mileage Plus was chosen to be the frequent flyer program for the combined airline. The program was subsequently renamed to MileagePlus, and maintains its relationship with its Star Alliance partners, as well as other airline and travel enterprise agreements. Following the integration and phase out of Continental OnePass on March 3, 2012, MileagePlus also became the frequent flyer program for Copa Airlines and Copa Airlines Colombia. The new program member IDs follow the OnePass format (2 letters + 6 digits) in lieu of the old Mileage Plus format (11 digits), and any members who had existing OnePass member ID numbers retained their existing numbers. In March 2015, Copa Airlines announced that it would phase out the MileagePlus program in f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chapter 11
Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation may also occur under Chapter 11; while Chapter 13 provides a reorganization process for the majority of private individuals. Chapter 11 overview When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11. In Chapter 7, the business ceases operations, a trustee sells all of its assets, and then distributes the proceeds to its creditors. Any residual amount is returned to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Divorce
Divorce (also known as dissolution of marriage) is the process of terminating a marriage or marital union. Divorce usually entails the canceling or reorganizing of the legal duties and responsibilities of marriage, thus dissolving the bonds of matrimony between a married couple under the rule of law of the particular country or state. Divorce laws vary considerably around the world, but in most countries, divorce requires the sanction of a court or other authority in a legal process, which may involve issues of distribution of property, child custody, alimony (spousal support), child visitation / access, parenting time, child support, and division of debt. In most countries, monogamy is required by law, so divorce allows each former partner to marry another person. Divorce is different from annulment, which declares the marriage null and void, with legal separation or ''de jure'' separation (a legal process by which a married couple may formalize a ''de facto'' se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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