Four Eastern European economies joined Poland in streamlining bankruptcy procedures. Latvia passed a new insolvency law in November 2007. Now financially distressed companies can choose to continue operating by pursuing reorganization. Like Poland, Latvia also tightened the qualification standards for bankruptcy administrators. So did Bosnia and Herzegovina. The Czech Republic's Insolvency Act took effect on January 1, 2008. The law introduces reorganization as the preferred method for resolving insolvency, mandates stricter deadlines, establishes an electronic insolvency register and sets new qualification standards for trustees. Expanding creditors' rights has been the most popular reform feature over the past 5 years (figure 11.5). Seventeen economies have empowered creditors: China,...
...In Canada, Ireland, Japan, Norway and Singapore foreclosure,...
..., people with distressed mortgages file bankruptcy petitions in a federal courthouse. These filings w...For example, a trustee in a bankruptcy case steps into the shoes of a hyp... phenomenon with private "trustees" in Canada. Ramsay, supra note 45, at 422 (quoting a Canadian...
... several overarching policy objectives that Canada uses as a framework for establishing the rules of ... case of banks, the liquidator must be a trustee licensed under the Bankruptcy and Insolvency Act (...
...Subsequently, over the objections of Air Canada, the Ontario court authorized the Administrators tto assign Aero in bankruptcy in Canada for the express purpose of pursuing any ...The trustee in bankruptcy subsequently asserted Preference Act...
Trial court properly granted plaintiff summary judgment on his breach of contract claim and defendants' declaratory judgment claim. Any error the trial court may have committed in denying defendants' summary judgment on plaintiff's unjust enrichment claim was not materially prejudicial to defendants.
... 29, 2001, DSLLC, DSI, NCT, Digital Storage Canada, Inc. ("DS Canada"), Langdale, DS Acquisition Corp... Daisytek and Digital Storage declared bankruptcy in the United States Bankruptcy Court for the Nort... while Synnex Canada and the bankruptcy trustee, acting on behalf of the estates of Daisytek and D...
... is generally accepted that a bankruptcy trustee has the right to disclaim certain types of contrac...
Both Chrysler and GM used asset sales under section 363 of the Bankruptcy Code as a way to avoid the more cumbersome chapter 11 plan process. The strategic use of section 363 asset sales in reorganization cases is becoming so common that some courts and commentators predict that the asset-sale route to a chapter 11 plan confirmation may soon supplant the traditional chapter 11 plan process. While some have decried section 363 sales as contrary to the voting system and other procedural safeguards inherent in a standard chapter 11 confirmation, this Essay argues that the section 363 asset-sale development is a natural consequence of the Bankruptcy Code being weighed down by a “springing” (or bankruptcy-only) priority of retiree medical benefits. Not only are springing prioriti...
...They are formal trusts that must have trustees appointed to manage the investment and distributio... the governments of the United States and Canada played in those two cases. All told, the U.S. Gove...
... we only have one agreement and that's with Canada. We are pursuing agreement with the European comm... documents that are on file, it's in bankruptcy, a large bankruptcy being handled by the trustee, ...
...-border Insolvencies: From Comity to COMI Canada has taken steps to enact portions of the Model Law... Law were incorporated into both the Bankruptcy and Insolvency Act and the Companies' Creditors Ar.... In this case, the Belgian bankruptcy trustee commenced two separate proceedings before two sepa...
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