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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]
The Fair Entitlements Guarantee is an Australian legislative scheme under which employees may receive financial assistance to cover certain specified employment entitlements where an employee loses their job due to the bankruptcy or liquidation of their employer and their employer does not have sufficient cash or assets to cover the entitlements.
If a contract were to arise directly out of the special Government employee's advisory services, or the appointment could be influenced by the special Government employee, or another conflict of interest were to affect the appointment, then the prohibition would still apply. [5] SGEs are subject to financial reporting requirements.
In late August, Bank of America filed in N.C. Business Court, seeking a receivership to oversee liquidation of Klaussner's assets. Klaussner owed the bank a total of more than $21 million.
Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation or receivership following bankruptcy, which may result in the court creating a "liquidation trust"; or sometimes a court can mandate the appointment of a liquidator e.g. wind-up order in Australia) or voluntary (sometimes referred to as a shareholders ...
The main differences between an estate liquidation and a mere estate sale is the sphere of inclusion which in a liquidation can expand to stocks, bonds, real property, fine jewelry, coin collections and fine art.
Also known as entitlement spending, in US fiscal policy, mandatory spending is government spending on certain programs that are required by law. [1] Congress established mandatory programs under authorization laws. Congress legislates spending for mandatory programs outside of the annual appropriations bill process. Congress can only reduce the ...
Employee benefits in the United States include relocation assistance; medical, prescription, vision and dental plans; health and dependent care flexible spending accounts; retirement benefit plans (pension, 401(k), 403(b)); group term life insurance and accidental death and dismemberment insurance plans; income protection plans (also known as ...