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Reorganization Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, meaning the term ''bankruptcy'' is not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian , literally meaning . The term is often described as having originated in Renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment. However, the existence of such a ritual is doubted. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into "debt slavery" until the creditor recouped losses through their physical labour. Many city-states in ancient Greece limited debt slavery to a period of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
No Bailout For Drug Fair? (3390579592)
No or NO may refer to: Linguistics and symbols * ''Yes'' and ''no'', responses * No, an English determiner in noun phrases * No (kana) (, ), a letter/syllable in Japanese script * No symbol (🚫), the general prohibition sign * Numero sign ( or No.), a typographic symbol for the word "number" * Norwegian language (ISO 639-1 code "no") Places * Niederösterreich (''NÖ''), Lower Austria * Norway (ISO 3166-1 country code NO, internet top level domain .no) * No, Denmark, a village in Denmark * Nō, Niigata, a former town in Japan * No Creek (other), several streams * Lake No, in South Sudan * New Orleans, Louisiana, US or its professional sports teams: ** New Orleans Saints of the National Football League ** New Orleans Pelicans of the National Basketball Association * Province of Novara (Piedmonte, Italy), province code NO Arts and entertainment Film and television * ''No'' (2012 film), a 2012 Chilean film * ''Nô'' (film), a 1998 Canadian film * Julius No, t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yassa
The Yassa (alternatively ''Yasa'', ''Yasaq'', ''Jazag'' or ''Zasag''; ) was the oral law code of the Mongols, gradually built up through the reign of Genghis Khan. It was the '' de facto'' law of the Mongol Empire, even though the "law" was kept secret and never made public. The Yassa seems to have its origin in wartime decrees, which were later codified and expanded to include cultural and lifestyle conventions. By keeping the Yassa secret, the decrees could be modified and used selectively. It is believed that the Yassa was supervised by Genghis Khan himself and his adopted son Shigi Qutuqu, then the high judge (in ) of the Mongol Empire. Genghis Khan appointed his second son, Chagatai (later Chagatai Khan), to oversee the laws' execution. Etymology The word ''yasa'' (or ''Yassa'') exists in both Mongolic and Turkic languages. It is believed that the word derives from the Proto-Mongolian verb *''jasa-'' (Modern ), which means "to set in order". The Turkic verb ''yasa-'', whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
White-collar Crime
The term "white-collar crime" refers to financially motivated, nonviolent or non-directly violent crime committed by individuals, businesses and government professionals. The crimes are believed to be committed by middle- or upper-class individuals for financial gains. It was first defined by the sociologist Edwin Sutherland in 1939 as "a crime committed by a person of respectability and high social status in the course of their occupation". Typical white-collar crimes could include wage theft, fraud, bribery, Ponzi schemes, insider trading, racketeering, labor racketeering, embezzlement, cybercrime, copyright infringement, money laundering, identity theft, and forgery. White-collar crime overlaps with corporate crime. Definitional issues Modern criminology generally prefers to classify the type of crime and the topic: *By the type of offense, e.g., property crime, Financial crimes, economic crime, and other corporate crimes like environmental law, environmental and health and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud
In law, fraud is intent (law), intentional deception to deprive a victim of a legal right or to gain from a victim unlawfully or unfairly. Fraud can violate Civil law (common law), civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, such as obtaining a passport, travel document, or driver's licence. In cases of mortgage fraud, the perpetrator may attempt to qualify for a mortgage by way of false statements. Terminology Fraud can be defined as either a civil wrong or a criminal act. For civil fraud, a government agency or person or entity harmed by fraud may bring litigation to stop the fraud, seek monetary damages, or both. For cr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chapter 13, Title 11, United States Code
Title 11 of the United States Code sets forth the statutes governing the various types of relief for bankruptcy in the United States. Chapter 13 of the Bankruptcy in the United States, United States Bankruptcy Code provides an individual with the opportunity to propose a plan of Bankruptcy#Purpose, reorganization to reorganize their financial affairs while under the bankruptcy court's protection. The purpose of chapter 13 is to enable an individual with a regular source of income to propose a chapter 13 plan that provides for their various classes of creditors. Under chapter 13, the Bankruptcy Court has the power to approve a chapter 13 plan without the approval of creditors as long as it meets the statutory requirements under chapter 13. Chapter 13 plans are usually three to five years in length and may not exceed five years. Chapter 13 is in contrast to the purpose of Chapter 7, Title 11, United States Code, Chapter 7, which does not provide for a plan of reorganization, but pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Distress
Financial distress is a term in corporate finance used to indicate a condition when promises to creditors of a company are broken or honored with difficulty. If financial distress cannot be relieved, it can lead to bankruptcy. Financial distress is usually associated with some costs to the company; these are known as ''costs of financial distress''. Cost A common example of a cost of financial distress is bankruptcy costs. These direct costs include auditors' fees, legal fees, management fees and other payments. Cost of financial distress can occur even if bankruptcy is avoided ( indirect costs). Financial distress in companies requires management attention and might lead to reduced attention on the operations of the company. Another source of indirect costs of financial distress are higher costs of capital as usually bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt Restructuring
Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continue its operations. Replacement of old debt by new debt when not under financial distress is called " refinancing". Out-of-court restructurings, also known as s, are increasingly becoming a global reality. Motivation Debt restructuring involves reduction of debt and an extension of payment terms and is usually less expensive than bankruptcy. The main costs associated with debt restructuring are the time and effort spent negotiating with bankers, creditors, vendors, and tax authorities. In the United States, small business bankruptcy filings cost at least $50,000 in legal and court fees, and filing costs in excess of $100,000 are common. By some measures, only 20% of firms survive Chapter 11 bankruptcy filings. Historically, debt restr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spain
Spain, or the Kingdom of Spain, is a country in Southern Europe, Southern and Western Europe with territories in North Africa. Featuring the Punta de Tarifa, southernmost point of continental Europe, it is the largest country in Southern Europe and the fourth-most populous European Union member state. Spanning across the majority of the Iberian Peninsula, its territory also includes the Canary Islands, in the Eastern Atlantic Ocean, the Balearic Islands, in the Western Mediterranean Sea, and the Autonomous communities of Spain#Autonomous cities, autonomous cities of Ceuta and Melilla, in mainland Africa. Peninsular Spain is bordered to the north by France, Andorra, and the Bay of Biscay; to the east and south by the Mediterranean Sea and Gibraltar; and to the west by Portugal and the Atlantic Ocean. Spain's capital and List of largest cities in Spain, largest city is Madrid, and other major List of metropolitan areas in Spain, urban areas include Barcelona, Valencia, Seville, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prussia
Prussia (; ; Old Prussian: ''Prūsija'') was a Germans, German state centred on the North European Plain that originated from the 1525 secularization of the Prussia (region), Prussian part of the State of the Teutonic Order. For centuries, the House of Hohenzollern ruled Prussia, expanding its size with the Prussian Army. Prussia, with its capital at Königsberg and then, when it became the Kingdom of Prussia in 1701, History of Berlin, Berlin, decisively shaped the history of Germany. Prussia formed the German Empire when it united the German states in 1871. It was ''de facto'' dissolved by 1932 Prussian coup d'état, an emergency decree transferring powers of the Prussian government to German Chancellor Franz von Papen in 1932 and ''de jure'' by Abolition of Prussia, an Allied decree in 1947. The name ''Prussia'' derives from the Old Prussians who were conquered by the Teutonic Knightsan organized Catholic medieval Military order (religious society), military order of Pru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Portugal
Portugal, officially the Portuguese Republic, is a country on the Iberian Peninsula in Southwestern Europe. Featuring Cabo da Roca, the westernmost point in continental Europe, Portugal borders Spain to its north and east, with which it shares Portugal-Spain border, the longest uninterrupted border in the European Union; to the south and the west is the North Atlantic Ocean; and to the west and southwest lie the Macaronesia, Macaronesian archipelagos of the Azores and Madeira, which are the two Autonomous Regions of Portugal, autonomous regions of Portugal. Lisbon is the Capital city, capital and List of largest cities in Portugal, largest city, followed by Porto, which is the only other Metropolitan areas in Portugal, metropolitan area. The western Iberian Peninsula has been continuously inhabited since Prehistoric Iberia, prehistoric times, with the earliest signs of Human settlement, settlement dating to 5500 BC. Celts, Celtic and List of the Pre-Roman peoples of the Iberia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
France
France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlantic, North Atlantic, the French West Indies, and List of islands of France, many islands in Oceania and the Indian Ocean, giving it Exclusive economic zone of France, one of the largest discontiguous exclusive economic zones in the world. Metropolitan France shares borders with Belgium and Luxembourg to the north; Germany to the northeast; Switzerland to the east; Italy and Monaco to the southeast; Andorra and Spain to the south; and a maritime border with the United Kingdom to the northwest. Its metropolitan area extends from the Rhine to the Atlantic Ocean and from the Mediterranean Sea to the English Channel and the North Sea. Its Regions of France, eighteen integral regions—five of which are overseas—span a combined area of and hav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Default
A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full when due. Cessation of due payments (or receivables) may either be accompanied by that government's formal declaration that it will not pay (or only partially pay) its debts (repudiation), or it may be unannounced. A credit rating agency will take into account in its gradings capital, interest, extraneous and procedural defaults, and failures to abide by the terms of bonds or other debt instruments. Countries have at times escaped some of the real burden of their debt through inflation. This is not "default" in the usual sense because the debt is honored, albeit with currency of lesser real value. Sometimes governments devalue their currency. This can be done by printing more money to apply toward their own debts, or by ending or altering the convertibility of their currencies into precious metals or foreign currency at fixed rates. Harder to quantify than an int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
