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Constrained equal losses (CEL) is a division rule for solving bankruptcy problems. According to this rule, each claimant should lose an equal amount from his or her claim, except that no claimant should receive a negative amount. In the context of taxation, it is known as poll tax. [1]
Bankruptcy cases pending on or filed after July 10, 1984, are subject to most of the amendments relating to bankruptcy jurisdiction. The Bankruptcy Judges, United States Trustees, and Family Farmer Bankruptcy Act of 1986 made substantive changes relating to family farmers and established a permanent United States trustee system. The 1986 Act ...
Nonbusiness bankruptcy filings fell to under 400,000 before edging back up to 434,000 in 2023, according to statistics published by the Administrative Office of the U.S. Courts. With two months ...
Title 11 of the United States Code, also known as the United States Bankruptcy Code, is the source of bankruptcy law in the United States Code. [ 1 ] This article is part of a series on the
The company has around $500 million to $1 billion in total liabilities, as stated in the bankruptcy petition. Do It Best also agreed to take on about $45 million in contracts and other obligations ...
The first municipal bankruptcy legislation was enacted in 1934 during the Great Depression. [2] Although Congress attempted to draft the legislation so as not to interfere with the sovereign powers of the states guaranteed by the Tenth Amendment to the Constitution, the Supreme Court held the 1934 Act unconstitutional as an improper interference with the sovereignty of the states. [2]
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