Sentences with phrase «under a bankruptcy plan»

Under the bankruptcy plan, Takata is selling most assets to Key Safety Systems, a unit of Chinas Ningbo Joyson Electric Corp..

Sometimes, this can be referred to as a «mini Chapter 11 ″ because you typically repay something to your creditors and retain your property and make payments under a bankruptcy plan.

Not exact matches

May 1 (Reuters)- Gibson Brands Inc, the maker of guitars played by the likes of B.B. King and Elvis Presley, filed for Chapter 11 bankruptcy protection on Tuesday with a plan to reorganize its musical instrument business under the new ownership of its lenders.

The CHOICE Act would also roll back SIFI criteria for what are termed «living wills» — essentially these are liquidation resolution plans under bankruptcy laws to be implemented if things go to heck in a hand basket.

May 1 - Gibson Brands Inc, the maker of guitars played by the likes of B.B. King and Elvis Presley, filed for Chapter 11 bankruptcy protection on Tuesday with a plan to reorganize its musical instrument business under the new ownership of its lenders.

The balance sheet restructuring will be effectuated through a pre-packaged joint plan of reorganization to be filed in the United States Bankruptcy Court for the District of Delaware in connection with the Company's filing of voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code.

In support of its restructuring and in order to satisfy its obligations under the plan of reorganization confirmed by the bankruptcy court, the Company closed the following financing transactions:

Under a plan that emerged from Suffolk OTB's bankruptcy, Suffolk County is guaranteed a total of $ 13 million for the casino's first 10 years of operation, including $ 2 million the first year and $ 3 million the second.

A headline in The Record newspaper in Stockton, Cailf., tells the story of the city's plan for operating under Chapter 9 bankruptcy protection following failed talks with bondholders and labor unions.

As part of the plan of reorganization (the Plan) under the bankruptcy, the loan was restructuplan of reorganization (the Plan) under the bankruptcy, the loan was restructuPlan) under the bankruptcy, the loan was restructured.

Chapter 11 Bankruptcy — It's expensive, it's a long and hard process but unlike Chapter 7 and Chapter 13, a judge can order a mortgage modification under a Chapter 11 bankruBankruptcy — It's expensive, it's a long and hard process but unlike Chapter 7 and Chapter 13, a judge can order a mortgage modification under a Chapter 11 bankruptcybankruptcy plan.

And, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it.

Also you know that unless you have a plan that is approved to catch up on your debt under a Chapter Thirteen, then the bankruptcy will not usually allow you to keep property when your creditor has an unpaid security lien or mortgage on it.

In situations where a borrower is underwater on their mortgage, the amount of the debt that exceeds their property value is treated under the Bankruptcy Code as unsecured, often paid at much less than 100 % under the terms of a chapter 13 plan.

Under bankruptcy law, debtors who owe more money than they can afford can either eliminate some (or all) of their debts or work out a payment plan to pay a portion (or all) of their debts over time.

Many individuals who cite medical debt as the cause of their bankruptcy were actually covered under a health insurance plan at the time the medical expenses were incurred.

That's because after bankruptcy, you could be release of your unsecured debt obligations, while you'll almost always have to repay secured debt even if it's under a bankruptcy repayment plan.

These advantages are: to save your home from foreclosure; to reschedule secured debts; to provide protection for co-debtors; to consolidate your loans under one plan; to keep non-exempt property; to extend certain tax obligations, student loans, or other such qualifying debts; and to qualify for bankruptcy relief.

Under funding in a chapter 13 bankruptcy plan is more common than one might think.

Under Chapter 13 Bankruptcy the debtor creates a 3 to 5 year debt bankruptcy repayment plan to repay creditors; payment amounts are based on a strict expense - to - incomBankruptcy the debtor creates a 3 to 5 year debt bankruptcy repayment plan to repay creditors; payment amounts are based on a strict expense - to - incombankruptcy repayment plan to repay creditors; payment amounts are based on a strict expense - to - income formula.

For Chapter 13 Bankruptcy, vehicles may be kept as long as the debtor makes the necessary payments under their bankruptcy payBankruptcy, vehicles may be kept as long as the debtor makes the necessary payments under their bankruptcy paybankruptcy payment plan.

Some advantages bankruptcy protection might offer a bankrupt debtor is that you can obtain an automatic stay which means the mere request for bankruptcy protection automatically stops and brings to a cessation certain lawsuits, foreclosures, utility shut - offs, evictions, repossessions, garnishments, attachments, and debt collection harassment, filing might save your home, you can reschedule secured debts, you can receive protection for co-debtors you can keep all non-exempt property, you can consolidate all your loans under one plan, all or part of your loans may be completely forgiven, and you can extend certain tax obligations, student loans, or other such qualifying debts.

Tax - free savings accounts may be the shiny new toy on the street and registered education savings plans come with that 20 per cent grant from Ottawa but those plans, along with Registered Disability Savings Plan, don't have the same protection as the 60 - year - old RRSP which is covered under Canada's Bankruptcy and Insolvency Act once you declare bBankruptcy and Insolvency Act once you declare bankruptcybankruptcy.

In simple Chapter 7 bankruptcies, which are resolved quickly, a bankruptcy attorney's fees are often under $ 1,500 and many bankruptcy attorneys offer payment plans.

Under Chapter 11 bankruptcy the business is allowed to reorganize their business and create a repayment plan, although the business becomes what is termed a «debtor in possession» keeping ownership of the business and maintaining control of their day to day business operations.

There are certain assets that can be protected and other assets that you may not be allowed to keep under a Chapter 7 bankruptcy plan.

If you are in financial distress, and can not meet your debt obligations temporarily; but has a regular income, to possibly pay your loans under a more lenient payment plan; then, Chapter 13 of the United States Bankruptcy Code, codified under Title 11 of the United States Code is ideal for you to pursue.

The second solution, and the only one that gives power to the consumer and forces a creditor to accept the repayment plan or wipe away the debt entirely, under law, is bankruptcy.

Also, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it.

It depends on the state in which you declared bankruptcy and, for 529s, the state plan under which your 529 is created.

Property is typically protected under the bankruptcy laws with the appropriate bankruptcy plan.

In a move to force more debtors into a Chapter 13 Wage Earner repayment plan, instead of allowing for a straight liquidation bankruptcy under Chapter 7, the trustee or any creditor can bring a motion to dismiss a Chapter 7 application if the debtor's income is greater than the state median income.

Under Chapter 11 Bankruptcy, the debtor has the right to file a plan of reorganization within 120 days after the order for relief.

An incorporated business can file bankruptcy, make a Division I Proposal or file something called a CCAA Plan of Arrangement under the Companies» Creditors Arrangement Act.

Less severe than personal bankruptcy, a proposal is an offer to all of an individual's creditors to pay a portion of debt under a strict plan over a maximum of five years.

Warning: Creditors, including mortgage holders and mortgage servicers, who willfully fail to credit payments received under a confirmed bankruptcy plan may be in violation of the bankruptcy discharge injunction.

Vick is serving a 23 - month federal sentence for dogfighting, and he's under pressure as well to submit a plan for crawling out of debt to a bankruptcy judge.

If you're a student, under 26, or a teacher you can buy one of their cards that have basic insurance for 25 USD or a card that covers much more for 200 USD.They also offer a typical insurance plan for anyone under 65 that covers injury, sickness, death, natural disasters, terrorist attacks, bankruptcy, stolen passports and visas, baggage, and trip delays among other things.

Congress further articulated consumer bankruptcy law in 1978 when it distinguished between Chapter 7 filings, which completely erase a debtor's debts, and Chapter 13 filings, which require certain debtors to make partial repayments under a structured plan.

Matters not covered by the plan include divorce and alimony, child custody or support, personal injury claims, bankruptcy, credit records, insurance disputes, mediation, driving under the influence, garnishment and easements.

While, non-exempt assets are not protected assets under bankruptcy law and can be sold to pay down your debt, careful bankruptcy planning with an experienced Massachusetts bankruptcy lawyer can usually result in all of your assets being exempt.

Under Chapter 13 bankruptcy, debtors are required to create a 3 - 5 year repayment plan to submit to the bankruptcy court for approval.

We structured a settlement of both cases in which the assets under attachment by our client would be used to fund the bankruptcy plan, resulting in payment in full to our client on its settled claim.

This includes a slew of family law services, landlord / tenant, civil litigation under $ 100k, simple estate planning, small - to medium - estate probate administration (contested and uncontested), bankruptcy, creditor lawsuit defense, business organization and incorporation, attorney demand letters, and several related services.

By following a 3 - 5 year repayment plan, filing bankruptcy under Chapter 13 may give you the chance to catch up on late payments while keeping on top of current payments.

Under Chapter 13 bankruptcy you may be able to keep most of your property and work out a debt repayment plan to catch up on past due debts.

This 3 - 5 year plan allows you time to catch up on past due bills while under bankruptcy protection that may stop collections and repossessions.

If there is some reason that you think you may not be able to complete the credit counseling requirement, speak with your bankruptcy lawyer far in advance of your planned filing date to see whether or not you might fall under an exception and what documentation might be required.

Our representation of the noteholders in bankruptcy court litigation led to a confirmed plan under which our clients received (i) the opportunity to buy Energy Future Holdings» regulated utility Oncor and convert its parent into a real estate investment trust (REIT), and (ii) a down - side recovery, along with other unsecured creditors, of US$ 550 million in the event the transaction did not close.

Represented estate manager in the Chapter 11 bankruptcy of Leasing Solutions, Inc., including advising on the distribution of approximately $ 50 million to creditors pursuant to a complex waterfall distribution scheme provided under the Chapter 11 plan of reorganization.