The high court said the case went to the jury on the mistaken theory that the underlying debts
owned by LVNV were "void" because the company was unlicensed.
Often, partnership interests are owned through a disregarded entity, such as a single-member LLC (SMLLC) or a qualified S corporation subsidiary, which will allow the entity's owner to be the partner for income tax purposes while effectively limiting liability for the partnership's underlying debts
Club sources insist there are no serious underlying debts
or tax liabilities at the club - total debt is understood to be EUR40k.
Unlike preventive organizations, debtors in suspensive reorganizations are required to pay all underlying debts, including secured debts, labor-related debts and taxes.
The payment schedule submitted by the debtor must propose to pay all unsecured creditors at least 50 percent of their underlying debt immediately; or an increased percentage over time--60 percent over 6 months, 75 percent over 12 months, 90 percent over 18 months, or 100 percent over 24 months.
in this case, the bond constitutes an additional guarantee pending a determination of the veracity or existence of the underlying debt; or
I analyzed court fees in relation to the value of underlying debts
. In a 1740 court session, for example, I found that, for the lowest quartile of debts (debts in the smallest amounts), court fees represented 79% of the value of the underlying debt
In addition, Article 23 of the Bankruptcy Law recognizes the right of secured creditors to foreclose and auction the assets securing the underlying debts without court intervention.
Article 209 of the Bankruptcy Law allows privileged creditors, regardless of whether the underlying debts are guaranteed by security interests, mortgages, warrants, or maritime or aircraft mortgages, to require a special reorganization rather than a preventive reorganization.
Even ignoring situations in which the allocation of CODI does not follow the allocation of the underlying debts, the partners are faced with two sources of income recognition: the recognition of their portions of the partnership's CODI and the potential for income recognition under Sec.
Treating CODI as a partnership level item creates the potential for double taxation of income if the allocation CODI does not follow the allocation of the underlying debt. The problem arises because, unlike the approach in which the deemed Sec.