There have been several studies to examine the impact of contingent liability
on debt sustainability (Krugman, 1999; Jeanne & Zettlemeyer, 2000; Demirgu-Kunt & Detragiache, 2000; Aghion et al., 2001; Burnside, 2004; Aghion et al., 2004; Burnside et al., 2003a, b; Chamon, 2007).
A regime of contingent liability
is therefore unique in the sense that it requires shareholders to compensate depositors for losses out of their personal wealth if the remaining assets of the bank are insufficient to cover liabilities.
Coverages available: Auto (truck) liability, trailer interchange insurance, non-trucking use (bobtail/deadhead), occupational accident and health, physical damage, pollution liability for truckers, motor truck cargo, umbrella/excess, contingent liability
, workers' comp, hired/non-owned coverage.
Accordingly the Directors will no longer include the contingent liability
note relating to potential liquidated damages by NMT in the financial statements of EOS.
5, a contingent liability
has to be probable and estimable for the amount to be recorded.
However, RSA chief executive Andy Haste said the group was not calling for additional funding and was comfortable with its pounds 200m contingent liability
"For quite some time, this has been the largest contingent liability
facing the company.
That reduced its contingent liability
to pounds 200 million from pounds 300 million.
37, a contingent liability
should already be recorded in the acquiree's book at the date of acquisition, if probable and reliably estimable.
First, in every incrementally funded contract, there is a requirement to identify funds to cover the contingent liability
The settlement initiatives relate to corporate-owned life insurance (COLI), section 302/318 basis-shifting transactions, and section 351 contingent liability
transactions that "have the potential for clogging the tax system, consuming significant resources, and preventing LMSB from making progress on other important issues." The Institute reiterated its concerns about the tax shelter disclosure regulations, urging the IRS to reinforce the message that disclosure of "reportable transactions" is not indicative whether the tax benefits are allowable and emphasize in training materials that the determination of the benefits of a transaction is independent of disclosure.