Processing for bankruptcy The process of bankruptcy is one which is initiated by an individual or business is insolvent to pay its obligations. The bankruptcy process begins with the filing of a petition by the debtor, or for the benefit of creditors. The assets of the debtor are evaluated and appraised andRead More →

The Police and Fire Pensions Board decided to adopt a 20-year payment schedule because it felt this was the best way to ensure the solvency of pension funds – simply put, to ensure the security of benefits for retired civil servants. They approved it over objections from city-aligned members, includingRead More →

In order to encourage the promotion and specialized attention of corporate restructuring and insolvency proceedings, by agreement of the Plenary Assembly of the Federal Judicial Council of Mexico, two district courts specializing in commercial bankruptcy cases (concursos mercantiles) were created, located in Mexico City. Commercial Bankruptcy Courts By means ofRead More →

A. Bankruptcy Imagine that the Acme Widget Company discovered that, to its horror, no one wanted its widgets anymore. [Maybe its “widget” was a buggy for horse-drawn carts, and the automobile had just been invented.] Acme owed $100,000 to its suppliers, but had assets that only totaled $5,000, with noRead More →

FRANKFURT, Germany–(BUSINESS WIRE)–In this commentary, DBRS Morningstar analyzes some key indicators related to the evolution of bankruptcies in the two Iberian countries from 2007 to date. Highlights of the summary include: Excluding individuals and the self-employed, the total number of declarations of bankruptcy is fairly stable (Spain) or constantly fallingRead More →

GOP donor Richard Kofoed walked his daughter down the aisle of Mar-a-Lago just weeks after he filed for bankruptcy protection from the single-asset LLC that owns his home. Getty IIn the past 25 months, serial entrepreneur Richard Kofoed has filed a claim personal bankruptcywas accused by a business associate ofRead More →