Insolvency

judgment until the close of the procedure. It monitors the implementation of the continuation plan and carry out the verification of claims under the insolvency judge's control. It is also required to comply with legal and contractual obligations of the entrepreneur and holds supervisory judge informed of the progress of the procedure. For its part, the insolvency judge is responsible for ensuring the expeditious conduct of the proceedings and the protection of interests. It shall act by order…

the so-called “Black Thursday” as 12.9 million shares were traded that day. Five days later, there were 16 million shares traded and so, millions of shares ended up worthless. As a result, many investors went bankrupt and banks were forced into insolvency. As many people feared of economic downturn, the overall spending was reduced, leaving…

The action came on for trial on the counter-claim before Vaughan Williams J., when the liquidator was examined as a witness on behalf of the company, whilst evidence was given for the appellant by himself, and by his son, Emanuel Salomon, one of the members of the company, who had been employed in the business for nearly twenty years. The evidence shews that, before its transfer to the new company, the business had been prosperous, and had yielded to the appellant annual profits sufficient to…

Creation of the floating charge in English jurisdiction had been developed throughout the nineteenth century. In Holroyd v Marshall1 in 1862, all of future assets could be charged and obtained after its acquisition by the debtor. This principle creates problem on how the company could run its business as a going concern and the company could be paralysed because the company’s business relied ultimately on its assets. This problem was solved by Sir Giffard LJ in Re Panama, New Zealand and…

immediately after a loan has been taken, a major share of the ultra-poor is excluded from microcredit programs as they lack the initial endowment and cannot provide a regular income (Schurmann and Johnston 521). Those who partake in the program risk insolvency as they take credit from other NGOs to repay their weekly installments with interest. This evidence also supports the findings of Rahman and Khan - 43% of the borrowers of ASA, a leading microcredit institution in Bangladesh, are involved…

the IT problems had been solved since he engaged Trouble Shooters Pty. Ltd, the reality is that the technical problems had not been fixed. Satish breached his duty and could lead the company into insolvency. Ying Ying as a non-executive director have responsibility to prevent the company insolvency. During board meeting, each director had mentioned that the company is facing IT problems that causing customers dissatisfaction and profits to decline. Ying is known that OHS Solutions is in debt…

arrive separately to avoid reporters […] and to use first names only so as not to reveal each other’s identity (Griffin 4). At this meeting, this coalition of bankers and government officials sought to find and answer to the problem of bank runs and insolvency. Their solution was the Federal Reserve Act which had five objectives: stop the growing competition from the nation’s newer banks; obtain a franchise to create money out of nothing…

perception that they are restrained by social norms (Hofstede,1). For this particular dimension, Chinese loan officers would employ the pessimism aspect and reject the loan identifying that the worst possible situation to transpire would be default and insolvency of the bank. However, the case of cynicism, where people are only motivated by self-interest, could apply here too. This means that if the salaries in China rely on the amount of loans you accept each month the loan officers may indeed…

Assignment 2: Question 2 Working capital management looks at the relationship between a firm's short-term assets and its short-term liabilities. The main goal of working capital management is to ensure that a firm has adequate cash flow for their operations and has the most productive use of their resources. Net working capital is the excess of current assets over current liabilities. Since current assets can be financed by either current liabilities or long term funds, the excess of current…

Many banks and institutions lend money to the citizens of its country to build a better life for themselves but the amount loaned may accumulate and lead the economy into a financial ruin. Many poor americans suffer by the terms of owing money to the government and businesses because their income cannot provide adequately for the needs of life. They spend money that is not theres and may not be able to repay it because they work minimum salary jobs or the amount to be payed is too large. Dennis…