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[13] [14] [15] In January 1991 the FDIC seized Bank of New England's three subsidiary banks—Bank of New England Trust Company, Connecticut Bank and Trust, and Maine National Bank—and placed them into Chapter 7 bankruptcy liquidation. [16]
Cyr served as a federal bankruptcy judge from 1973 to 1981, and was chief judge of the Bankruptcy Appellate Panel for the First Circuit from 1980 to 1981. On August 11, 1981, President Ronald Reagan nominated Cyr to the United States District Court for the District of Maine vacated by George J. Mitchell , who had resigned following his ...
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
On July 13, 2015, DonJon filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Connecticut with a debt of $32,509,549.91. Modern bankruptcy law often distinguishes reorganization , in which only some of the bankrupt's assets are taken, a repayment plan is devised and part of the debt is discharged , from ...
In 2006, International Paper sold the plant to Verso Holdings, LLC, and 1,000 people worked in the mill at that time. In 2015, Verso laid off 300 workers. A year later, it filed for bankruptcy. In 2017, it laid off an additional 300 people and idled a machine. In April 2020, a wood pulp digester exploded, destroying the mill's pulp machines. [3]
The U.S. Trustee does not have prosecution powers, but is required by law to refer information regarding potential criminal violations of bankruptcy laws to the United States Attorney. [2] Interim trustees serve by the U.S. Trustee's appointment in Chapter 7 cases. Generally the interim trustee is assigned at random from a "panel" of qualified ...
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