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On February 25, 2019, Windstream filed for Chapter 11 bankruptcy in response to a February 15 judgment against the company for $310 million. [19] [20] In September 2020, emerging from bankruptcy as a privately held company, Windstream successfully completed its financial restructuring process and reduced its debt by over $4 billion. [21]
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
After both rounds, the Department of Education released the complete scoring of each application, with the intention of making the scoring process more transparent and helping states revise their applications to be more competitive for the second round of competition. Round 1 (a.k.a. Phase 1) winners were announced on March 29, 2010. [22]
A chief restructuring officer (CRO) is a senior officer of a company given broad powers to renegotiate all aspects of a company's finances to deal with an impending bankruptcy or to restructure a company following a bankruptcy filing. The use of CROs, who usually have an expertise in the field of business in which the company operates, has been ...
Restructuring or Reframing is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs.
A troubled debt restructuring (TDR) is defined as a debt restructuring in which a creditor, for economic or legal reasons related to a debtor's financial difficulties, grants a concession to the debtor that it would not otherwise consider. As such, in order for a debt restructuring to be a considered a TDR, two conditions must be present:
Regulators and legislators are considering action regarding lending practices, bankruptcy protection, tax policies, affordable housing, credit counseling, education, and the licensing . Regulations or guidelines can also influence the nature, transparency and regulatory reporting required for the complex legal entities and securities involved ...
Schools of education need to report their graduation pass rates for teacher certification to the state in April. States then report "information on certification and licensure requirements, pass rates on state assessments disaggregated and ranked by institution, and other information" to the U.S. Department of Education in October.