' losses were calculated on the basis of an assessment of which dividend the creditor
in question would have obtained if the director's dispositions had not been made, provided that the bankruptcy proceedings would have occurred at the earlier time when the company's situation was certainly deemed to be hopeless.
The clerk of the Bankruptcy Court will generally send creditors
a blank form to complete, First, the creditor
needs to make sure it marks its claim in the proper classification section, such as secured, general unsecured or priority unsecured.
The professional services firm said the payout will go to creditors
to Powertrain, the part of MG Rover that manufactured engines and gearboxes.
The Notice of Bankruptcy Filing also details where and when the Meeting of Creditors
is scheduled and what the specific deadlines are for the creditor
to object to discharge or exemptions.
As Park is a representative director of the company, analysts said that the official document is the creditors
' ultimatum to the chairman.
It enables him to obtain a temporary reprieve from paying his maturing debts in the hope that he can come up with a mutually acceptable repayment plan with creditors
under the supervision of the court.
DUBAI: Kuwait's Investment Dar has offered to hand assets to creditors
immediately, a source close to the company said, in a bid to win them over to its latest plan to restructure debts of 813 million dinars ($2.7 billion).
Huarong Energy, formerly Rongsheng Heavy Industries, has proposed to issue new shares worth a total of HKD20.53bn ($2.64bn) for subscription by its bank and supplier creditors
often face the issue of whether they are required to continue providing goods or services on credit to a customer that has filed chapter 11 bankruptcy.
Summary: Trade creditors
often face the issue of whether they are required to continue providing goods or services on credit to a customer that has filed ...
Registration will commence at 9.30am and Scheme Creditors Creditors
are requested requested to arrive no later later than 10.00am inorder to register.
should get involved in the insolvency process - that's the view of Huddersfield man Peter Sargent, of business recovery firm Begbies Traynor.