It added that a large number of creditors would be contacted in "a major emailing exercise".
The BT Cardiff Devils went into voluntary liquidation after an emergency meeting of creditors was called.
The issue of value is thus seen through the eyes of creditors, not the transferee.
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For what happened in those bankruptcies was that the precedence of creditors was over turned.
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But in a democracy the votes of debtors tend to overwhelm the interests of creditors.
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This would, in effect, prevent a small minority of creditors from holding everyone else to ransom.
Asking the Fed to engage in stealth fiscal policy will not increase the confidence of creditors.
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Charles and Philip owed him substantial sums and never placed him high on their long list of creditors.
In Thailand, Prachai Leophairatana, the founder of Thai Petrochemical Industries, has stubbornly resisted the efforts of creditors to recover their money.
They sometimes moved, with their shrinking stock of possessions, at night, in order to escape the attention of creditors.
As there are often dozens of creditors, all with their own priorities, such a consensus is hard to reach.
This implied wage cuts or higher unemployment, all for the benefit of creditors.
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Worse, say the asset-protection lawyers, is that the UTC allows all sorts of creditors to reach so-called discretionary dynasty trusts.
This is a favorite South Pacific haven of the wealthy to keep their fortunes beyond the reach of creditors, lawyers and ex-wives.
Governments are torn by competing obligations often at the expense of creditors.
Debt relief is then in the interest of creditors and debtors alike.
As a practical matter, once an asset protection case gets before the court, things are normally loaded in favor of creditors against debtors.
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With top executives' pay a hot-button topic, some companies are simply keeping the information out of the view of creditors and anxious employees.
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Not only are there two main types of creditors (banks and bondholders), but also several kinds of debtors (sovereign governments, banks and firms).
Estate lawyers would draft complicated trusts for IRA assets, allowing discretionary distributions to beneficiaries, to keep the assets out of the hands of creditors.
Other steps are still needed: for example, regulators should create a new ring-fenced group of creditors who would be exposed to losses in resolution.
One group of creditors claims that the then WorldCom avoided hundreds of millions of dollars in state taxes by using a special tax shelter.
The government scheme will be put to a vote of creditors on 19 May and the petition to wind-up the bank has been adjourned until 27 May.
By going off the gold standard and allowing their currencies to fluctuate, they protected the interests of the bulk of their populations at the expense of creditors.
Partly as a result, Beijing is now putting the finishing touches to a new bankruptcy law which vastly increases the rights of creditors and clarifies the procedure.
Enforcing full payment of creditors that reject a restructuring, while applying a hefty haircut to those accepting it, will make it impossible to complete a successful restructuring.
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Cardiff Devils Ice Hockey Limited plus parent company Celtic Leisure Holdings PLC issued a public notice earlier this month for a meeting of creditors under the Insolvency Act 1986.
Already some reckon the two will have to drop out of financing earlier rescues of Greece, Ireland and Portugal, placing even greater burdens on a shrinking number of creditors.
Last year, Mr Smith managed to retain control of the factory under an arrangement he reached with a group of creditors, who were suing him in a multi-million dollar fraud case.
Like the Rangers and its previous owner, Tom Hicks, the Dodgers and Frank McCourt have debt problems with hordes of creditors chomping at the bit to get what is owed them.
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