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Bankruptcy
Bankruptcy
Bankruptcy
Bankruptcy
Bankruptcy

The following information is about Bankruptcy.

Bankruptcy Defined

The formal condition of an insolvent person being declared bankrupt under law. The legal effect is to divert most of the debtor's assets and debts to the administration of a third person, sometimes called a " trustee in bankruptcy", from which outstanding debts are paid pro rata. Bankruptcy forces the debtor into a statutory period during which his or her commercial and financial affairs are administered under the strict supervision of the trustee. Bankruptcy usually involves the removal of several special legal rights such as the right to sit on a board of directors or, for some professions that form part of the justice system, to practice, such as lawyers or judges. Commercial organizations usually add other non-legal burdens upon bankrupts such as the refusal of credit. The duration of "bankruptcy" status varies from state to state but it does have the benefit of erasing most debts even if they were not satisfied by the sale of the debtor's assets.

This definition is in context to Canadian Law. See more contextual defintions for Bankruptcy.


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Banking and Financial

Published December 2, 2008, 5:33 am, Mondaq

The current freeze in the credit markets and the resulting general downturn in the leveraged buy-out market have led private equity firms to search for new investment opportunities. Not surprisingly, the economic forces that precipitated the downturn may generate some of these new opportunities.

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RPT-FEATURE-Dreaming of a cheap Christmas

Published December 2, 2008, 5:30 am, The Forex Market

LONDON, Dec 2 (Reuters) - The bright "50 percent off" signs plastered over the windows of London's plush new Westfield shopping centre don't hold much sway over Helen Marlow.

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The 12 Things You Never Knew About Ted Rogers

Published December 2, 2008, 5:18 am, CityNews

His name is everywhere in Canadian business, and he wouldn’t have had it any other way.

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Bridgewater Commons owner gets two-week reprieve on debt

Published December 2, 2008, 5:17 am, MyCentralJersey.com

Shopping-mall owner General Growth Properties Inc. is getting a two-week extension on $900 million in debt that had been scheduled to come due last week as the company works to stave off bankruptcy and negotiate longer-term extensions with lenders.

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Investor Sues to Block Mortgage Modifications

Published December 2, 2008, 5:08 am, BusinessWeek Online via Yahoo! News

The battle over the mass modifications of troubled mortgages has begun in earnest. On Dec. 1, William Frey, a private investor in mortgage-backed securities, filed a lawsuit in New York State Supreme Court alleging that the proposed modification of some 400,000 home loans originally underwritten by the defunct lender Countrywide Financial is illegal.

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Media mogul Ted Rogers dies

Published December 2, 2008, 5:07 am, Toronto Star

Ted Rogers, one of Canada's most successful businessman known for high-speed Internet, cable television, cellular phones and owner of the Toronto Blue Jays, is dead at 75.

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Bailout Monitor Sees Lack of a Coherent Plan

Published December 2, 2008, 5:05 am, The Hendersonville Times-News

The head of a new Congressional panel set up to monitor the federal bailout says the government still does not seem to have a coherent strategy for easing the crisis.

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Ted Rogers dies at 75

Published December 2, 2008, 4:35 am, The Globe and Mail

Communications magnate mastered convergence, combining media content and transmission in a single corporate entity

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Dolphin Digital Media Retains International Law Firm of Brown Rudnick LLP as General Counsel

Published December 2, 2008, 4:30 am, GlobeNewswire via Yahoo! Finance

TORONTO, Dec. 2, 2008 -- Dolphin Digital Media, Inc. , a developer of unique social networking websites using state-of-the-art fingerprint identification technology, announced today that it has retained the services of the law firm Brown Rudnick LLP to represent the Company as general counsel.

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Ted Rogers, 75

Published December 2, 2008, 4:12 am, The Globe and Mail

Ted Rogers spent his life defying expectations. He feared he would die by the time he was 38, the age when his father was felled by a brain aneurysm, leaving a six-year-old son with the pristine image of a heroic dad.

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Off-site Bankruptcy Links, User Submitted

The following links have been collected through user bookmark submission in the Bankruptcy category. Please note, because these resources are off-site we cannot guarantee the accuracy or quality of any information.

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If you would like to find additional social bookmark based links on the topic of we recommend the Open Tag Directory > Bankruptcy. If you would like to find related tags we recommend Tag Patterns > Bankruptcy

Off-site Bankruptcy Research Links

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