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The word bankruptcy is derived from Italian banca rotta, literally meaning ' broken bank '. 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. [1] [2]
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were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...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 January 28, 1993, Berlitz International Inc. announced a court order disengaging the language services company from the bankrupt Maxwell Communication Corporation had cleared the way for Berlitz's pending merger, while shareholders approved the merger at a stockholder meeting in New York held on the same day, with merger to be closed on ...
More rarely, personal bankruptcy proceedings are carried out under Chapter 11. The ultimate goal of personal bankruptcy, from the viewpoint of the debtor, is receiving a discharge. [2] In 2008, more than 96% of all bankruptcy filings were non-commercial and about two-thirds of these were chapter 7 cases. [3]
Your attorney can help you consider your bankruptcy options and determine which is the best fit for your financial situation. File a separate adversary proceeding to discharge your student loans.
In English-speaking countries, they have integrative motivation, the desire to learn the language to fit into an English-language culture. They are more likely to want to integrate because they 1. Generally have more friends and family with English language skills. 2. Have immediate financial and economic incentives to learn English. 3.
Cengage Learning filed for bankruptcy under Chapter 11 on July 2, 2013. [22] [27] Cengage Learning emerged from bankruptcy on April 1, 2014, eliminating approximately $4 billion of its funded debt and securing $1.75 billion in exit financing. Post-bankruptcy, the company decided to focus on developing digital study guides and other educational ...
"The Early History of English Bankruptcy". University of Pennsylvania Law Review. 67 (1): 1– 20. doi:10.2307/3314453. JSTOR 3314453. Treiman, Israel (1927). "Escaping the Creditor in the Middle Ages". Law Quarterly Review. 43: 230. JSTOR 1333915. Reports. Report of the Commission on Bankruptcy Laws of the United States, H.R. Doc. No. 93-137, 93d.