If restructuring is not a possibility, the BIA also covers the procedures for what is always the last choice, a liquidating bankruptcy. The BIA also covers the rights and responsibilities of debtors, creditors and insolvency trustees. Additionally, each province has its legislation that may impact ...
Pittsburgh Corning filed for Chapter 11 bankruptcy in April 2000 after being overwhelmed with asbestos-related legal claims. After 16 years of legal wrangling, the courts accepted the reorganization plan, which included the trust funding agreement, in 2016....
supplied byhimforthesendingofnoticesordocuments to him of any member in pursuance of the Bye-Laws shall, notwithstanding that such member be then deceased or bankrupt or that any other event has occurred and whether or not the Company has notice of his death, bankruptcy or such other event, ...
(b) The Manager, subject to and in accordance with any directions which the Trust’s Board of Trustees may issue from time to time, shall place, in the name of the Fund, orders for the execution of the Fund’s securities transactions. When placing such orders, the Manager shall seek to...
regardless of whether the account repayment data reveal any defaultof paymentlasting in excessof60days, until the expiry of five years from thedateoffinalsettlement oftheamount in default or the expiry of five years from the date of discharge from a bankruptcy as notified by the data subject wi...
Fee Application means an application for allowance and payment of a Fee Claim (including Claims for “substantial contribution” pursuant to section 503(b) of the Bankruptcy Code). Spousal support order means a support order for a spouse or former spouse of the obligor. Payment request means any...
Because Section 560 of the Bankruptcy Code applies to swap participants, the court had to determine whether the CDO trustees were entitled to terminate the swaps on behalf of their CDOs. Ultimately, the court determined that the trustees were exercising the CDOs’ right to terminate their swap co...
“On February 12, 2002, Kaiser Aluminum filed for Chapter 11 bankruptcy protection. Upon emerging from bankruptcy protection in 2006, the company provided its plan for forming the Kaiser Asbestos Personal Injury Trust with roughly $1.2 billion set aside to handle asbestos claims” ...
As a result of the influx ofasbestos lawsuits, Halliburton, Kellogg Brown & Root, Dresser Industries, and other subsidiaries filed for Chapter 11 bankruptcy. The resulting trust is called DII Industries, LLC Asbestos PI Trust and was initially funded with $4 billion in cash and stock. At the...