The bankruptcy rules on NOLs are complex, but there are ways that NOLs can survive.
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The bankruptcy rules on NOLs are complex, but there are ways NOLs can survive bankruptcy.
Mr Webb says that the banks are hindered by bankruptcy rules that are generous to debtors.
The bankruptcy rules on net operating losses (NOLs) are complex, but there are ways NOLs can survive.
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Paradoxically, tougher bankruptcy rules might encourage even more lending to people like this.
This has allowed Michelle White, of the University of California at San Diego, to study what happens when bankruptcy rules remain the same, but the cost to the borrower changes.
Rather, under discussion are changes to the bankruptcy laws, the rules that govern the Federal Housing Administration or action by the Federal Reserve.
Chrysler wants the U.S. Bankruptcy Court to approve bidding rules for the auction that would require creditor objections to be submitted by May 11 with the competing bid deadline set at May 15.
Second, as far as the rest rules go, the Bankruptcy Code provides a road map to get taxes discharged.
The IRS is pretty good at this, in part because the tax rules governing debts in bankruptcy are technical.
When General Motors went bankrupt, the case should have been handled by the bankruptcy courts, under the same rules that apply to everyone else.
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Each bankruptcy trust operates by its own rules, and they have resisted efforts to share even basic information, such as the Social Security numbers of claimants, to weed out double-dipping.
Then, when the U.S. government took over during bankruptcy, they threw out all those rules until 2015.
This flexibility is one of the advantages provided by an ABC that's not afforded those filing for bankruptcy -- it allows the sale to happen quickly if the assignee thinks it financially advantageous to do so, and the process isn't dictated by the rules and procedures of the bankruptcy courts.
The Plaza Group claims in bankruptcy filings that it was undone by recent accounting rules that force private equity partnerships to write down the value of their investments in accordance with market valuations, as opposed to holding them at cost.
Many observers think Delta will file for bankruptcy later this year, perhaps before October 17th when the rules governing Chapter 11 are changed to limit the time companies can spend restructuring under its protection.
If student debt is not to shackle existing graduates and put off future ones, the rules could be changed so that it is dischargeable in bankruptcy.
That's because its bankruptcy was orchestrated by a union-friendly administration that changed the normal rules of the game that would have required GM's unsecured creditors--such as the United Auto Workers--to forgo most of their claims.
The Affordable Care Act forces insurance companies to play by a new set of common sense rules, prohibiting them from dropping your coverage if you get sick, billing you into bankruptcy through annual or lifetime limits, and, soon, discriminating against anyone with a pre-existing condition.
"Too many of these companies pick the last dollar out of consumers' pockets, and far from leaving them better off, push them deeper into debt, even bankruptcy, " says Jon Leibowitz, chairman of the Federal Trade Commission, in a statement describing the new rules.
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