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Bankruptcy Essay Topics & Paper Examples

Take Home Exam

2. “The decision in IATA v Ansett Australia Holdings (2008) 82 ALJR 419; [2008] HCA 3 allows contracting parties to ignore the effect of the pari passu rule to the detriment of general creditors”. Discuss and examine the reasoning in the case. One of the principle aims of insolvency law is to provide an equal, fair and orderly procedure in handling the affairs of insolvents ensuring that creditors receive an equal and equitable distribution of the assets of the debtor. This is the pari passu (equal sharing) principle, which is generally regarded as being the foremost principle of insolvency law. The rule operates to ensure that creditors of the same priority receive an equal percentage return from the insolvents company’s…

Personal Legal Perspectives

Bankruptcy is a situation whereby a person or a partnership or a company borrows more funds from a bank than what it has in their bank accounts, and thereafter fails to repay the debt due to insufficient funds in their accounts or disagreements. The insolvents fail to pay the debts and therefore result into morality of bankruptcy (Jensen, Macklin, 1998, p. 367). Bankruptcies severely results to hurt creditors and society. Therefore this leads to formulation of law and moral aspects to safeguard creditors against this violent social phenomenon in the business transactions (Jacobs, Nicholas, Chase, 2006, p. 41). In the case of this partnership of Beren, the petition for involuntary bankruptcy should be granted because the partners have failed to…

All Chapters of Summary of the Village by the Sea

Summary Chapter 1: In the first chapter of “the village by the sea”, the author introduces the characters and their lives. The eldest sister of this family is Lila, the protagonist with her two younger sisters Bela and Kamal and also their brother Hari. Unfortunately, their mother is very sick and weak and their father is a drunkard. The family is very poor, so to pay their debts, their father was obliged to sold his fishing boat and the cow. That means that they couldn’t afford money to the books and the uniform of the school for the four brothers. But Bela and Kamal had to be educated because they’re still young, so Hari and Lila do their best to…

The Absolutely True Diary About a Parttime Indian

Chapter 4: Because geometry is not a country somewhere near France Arnold went to high school for the first time. He thinks his sister is good at ruining things. She didn’t do anything after high school, kind of sad. He thinks she’s pretty, but crazy and random. She’s called Mary Run Away. Arnold is worried that Rowdy will hang around with older children and leave him behind or hate him. Arnold was sitting in the classroom of Wellpinit High School with the teacher Mr P, who looks pretty weird. He sometimes forgets to come to school. He receives an geometry book that’s older than 30 years (his mother name even stands in the book) and throws it in Mr P’s…

Layoff and Strategic Downsizing Decisions

INTRUDUCTION Downsizing is a permanent reduction of workforce through layoffs and other means. Organizations usually downsize to save payroll costs and prevent bankruptcy during tight economic conditions. Downsizing, when done right, makes the organization more efficient, lean, and mean .On the other side, a faulty approach to downsizing can cause the organization to run the risk of losing key talent and intellectual capital, and becoming dysfunctional by breakdown of hierarchies and systems. The criteria adopted for who stays and who goes largely determines the success of the downsizing intervention Many organizations, especially traditional ones, in a bid to ensure impartiality and objectivity adopt the LIFO or “Last in First Out” principle whereby those who joined the organization last become the…

Benefits and Negatives of Bankruptcy

Bankruptcy is briefly defined as a process in which debtor obtains relief from his/her debts through the court. The relief varies in form and it includes full partial discharge of the debt or the nuisance of an imbursement plan consistent with the debtor’s financial means. (Larson, 2000) Types of bankruptcy vary according to its function. One of the most common types of bankruptcy is “Chapter 7” or “Straight Bankruptcy” or “Liquidation. ” This is also known as Personal Bankruptcy. Another is “Chapter 11”, which is primarily used by businesses. There is also “Chapter 13” or “Wage-Earner Bankruptcy. ” Finally, “Chapter 20” bankruptcy is the process of filing of a “Chapter 7” bankruptcy to discharge unsecured debts, followed by “Chapter 13….

Relationship between Father and Son

Father and son relationships in The Iliad are not like you would see in America or in our culture today, but there is still a developed love for one another. Priam and Hector had a very strong and admirable relationship, yet it didn’t come from seeing each other every day. Fatherly affection is not touchy-feely, nor is it necessarily given unconditionally or freely. Rather, a son must earn his father’s respect and admiration, and it is by leaving home and fighting his own battles that the son is able to get this. They spent more time apart then they did together. The distance they spent from each other only made their admiration grow stronger. This relationship is unique, and plays…

“Lessons from Lehman Brothers: Will We Ever Learn?”

?“Greed” and “Crooks” are a sampling of comments recorded on a rendering of Lehman’s chief executive Richard Fuld by artist Geoffrey Raymond, who placed his painting outside of Lehman’s New York City offices and handed out markers to employees and pedestrians so they could write a message regarding the firm’s announcement that it was filing for bankruptcy. On September 15, 2008, financial services firm Lehman Brothers filed for bankruptcy with the U. S. Bankruptcy Court in the Southern District of New York. 95 That action—the largest Chapter 11 filing in financial history—unleashed a “crisis of confidence that threw financial markets worldwide into turmoil, sparking the worst crisis since the Great Depression. ” The fall of this Wall Street icon is,…

American Airlines and US Airway’s Merger

Abstract American Airlines has suffered tremendous profit losses over the last few years. The losses have been so great that the company filed Chapter 11 bankruptcy. The news for the Chapter 11 bankruptcy protection was a shock to many, considering the fact that they had enough money to operate and cover their losses through the following year. The merger indeed was great decision on behalf of American Airlines. The merger itself was questionable. The Department of Justice filed a lawsuit against regarding concerns that it could raise prices for consumers. A settlement was reached and the world largest airline has been formed. American Airlines has been suffering for many years. The company has suffered more losses than profits. Jobs have…

The Day Of The Triffids Study Guide

After missing an historic ‘meteor shower’ due having his eyes bandaged in hospital, Bill Masen wakes to discover that the world is in a state of disarray. It is clear that the so called meteor shower has left all who saw it blind. The author hints that there is more carnage to come with the use of foreshadowing. “It is not easy to think oneself back to the outlook of those days…there was so much routine…and all the more disturbing, therefore, when the routine was in any way upset” pg 16. “The place looked – well, you’ll have seen one of Dore’s pictures of sinners in hell.” pg 21. “There was nothing to be heard – nothing but the rustle…

How to Read Literature Like a Professor Chapter Analysis

Chapter 1: Every Trip Is a Quest (Except When It’s Not) In Chapter 1 the author explains the symbolic reasoning of why a character takes a trip. They don’t just take a trip they take a quest. Structurally a quest has a quester, a place to go, a stated reason to go there, challenges and trials en route, and a reason to go there. Quests usually involve characters such as a knight, a dangerous road, a Holy Grail, a dragon, an evil knight, and a princess. The quest also involves the character to gain self-knowledge out of taking the adventure to the stated place where he or she is going. Chapter 2: Nice to Eat with You: Acts of Communion…

Extinguishment of Obligation

SECTION 1. – Payment or Performance Art. 1232. Payment means not only the delivery of money but also the performance, in any other manner, of an obligation. (n) Art. 1233. A debt shall not be understood to have been paid unless the thing or service in which the obligation consists has been completely delivered or rendered, as the case may be. (1157) Art. 1234. If the obligation has been substantially performed in good faith, the obligor may recover as though there had been a strict and complete fulfillment, less damages suffered by the obligee. (n) Art. 1235. When the obligee accepts the performance, knowing its incompleteness or irregularity, and without expressing any protest or objection, the obligation is deemed fully…

Business Ethics and Corporate Social Responsibility

The United States has several laws that are intended to further fair, balanced, and competitive practices. I do feel that these laws are effective in many ways. Some of those ways I will pin point in the next few paragraphs. These laws include some major concepts of law. Some of these major concepts include torts, contracts, property transactions, patents, trademarks, copyrights, and bankruptcy. These laws were made to protect the integrity of businesses, help people to maintain their business, help employees to maintain a safe work place, and make sure that there is the least amount of issues legally if possible. These business laws were set into place to prevent more than just economic issues with monopolization or CEO’s and…