Archive

Archive for the ‘Business Bankruptcy Q and A’ Category

Kodak Share Value During Bankruptcy?

January 15th, 2012 1 comment

What happens to the shares of a public company that declares Chapter 11 bankruptcy protection and comes back into business at a later date? For example, General Motors declared bankruptcy in June 2009 and after asset sales it came back into business in July 2010 and got listed on NYSE in November 2010. I believe the ticker symbol “GM” didn’t change from bankruptcy. So the old shares are valid or they are worthless? I know that the value of shares of a company declaring bankruptcy is ZERO unless there’s any money left after paying all the creditors through the bankruptcy court.

But in case of a company that comes back after re-org or restructuring through bankruptcy, what is the value of “old” shares? For example, say Kodak files for bankruptcy. Currently, its total equity is -1.7B. Say, it is able to sell some of its patents for 2B and pays off all the debt and decides to come back into business as it has printer business and other patents. What would then be the worth of the current shares of EK? I am not much familiar with law terminology so anything in simple terms is much appreciated. Useful links for further reading would be great as well…

Business Law Help!!!!!!!!!?

December 18th, 2011 No comments

I’m not asking anyone to write an essay, maybe just give me a few pointers in which direction to go in, or maybe some helpful insight to help me get going on this. Thank you.

I have to write a 5 page essay on the following:

“Law is the set of rules which are established by society through whatever means, democratic lawmaking, dictatorial fiat, treaty, or ecclesiastical edict. Laws reflect the values of a society and, especially, its theory of commerce and economics. The system established in the United States reflects its values and the economic system which has evolved here: capitalism limited by the rules thought appropriate over the history of our nation. These laws have allowed commerce and growth. The limits have set the rules of the game to restrict the ultimate logical conclusion of some of the theories which we embrace. Our laws set limits, protect those in business, and enable people willing to take a chance. Finally, they punish those who take advantage of the system. Law allows our business community to function and has enabled the greatest economic system in the history of the world.” -Anonymous.

Explain the quotation above. Be sure to talk about what our system is, what theories underlie it, how limits have been applied to unfettered capitalism and why this is good or bad, what penalties exist, etc.).

Then apply it to the following list of particular U.S. laws and systems each in one concise but complete paragraph:

1. The Sherman and Clayton Anti-Trust Acts.
2. US Bankruptcy Law.
3. Federal Labor Law (Wagner Act, Taft Hartley, etc.)
4. Common Law of Contracts.
5. The Securities Acts of 1933 and 1934.
6. Article 2 of the Uniform Commercial Code.
7. The Commerce Clause of the United States Constitution.
8. Common Law Wrongful Termination Employment Law.

If someone could possibly help me get going, or possibly show me some credible sources, then that would be much appreciated! Thank you!!!

I want to study law, but I do not want to become a lawyer.?

December 14th, 2011 3 comments

Hello, I went through lots of problems last year. I thought if I knew more of those laws….. about business, credit, bankruptcy and so on, it would have helped me alot.

I do not have plan to be a lawyer, but I would like to study those laws that would help me in long runs.

How should I study them?

Help me please!

bankruptcy laws in qatar?

December 10th, 2011 1 comment

I have always been into businesses. Most of them worked and made me money and one business failed and was bankrupt. But overall i made good money. i have a friend of mine in Qatar suggesting that we open a construction business there (i have experience in that). Of course i want to do everything possible to make good money. but what scares me is that there is always a small probability that the business goes bankrupt even if i have experience. I heard that in qatar and the gulf in general if you’re business goes bankrupt you are still liable and you might even go to jail if you do not pay even though you are bankrupt. The idea scares me even though i am determined to succeed but we never know. anyone knows about bankruptcy laws in qatar or gulf in general

Penguin Windows is now Renewal by Anderson?

December 2nd, 2011 1 comment

I heard Penguin windows went out of business, but even after they filed chapter 11, we still had their canvassers dropping by. This past week, we thought we would give Renewal by Anderson a try. The canvasser was nice, telling me how other companies can be supper pushy and Renewal by Anderson wasn’t at all like that.

The next morning, the sales person shows up at our door. Its the same Penguin sales rep. I asked what was going on. He said Penguin went out of business. He wouldn’t answer anything else. He said his new windows were even better then the old ones…

Did the company just change their name?

If Starbucks were to go out of business, what would be an exit strategy they would use?

November 28th, 2011 2 comments

Please help! I need it for business law and the bankruptcy code has too many subsections! XD

Thank you very much!

Honestly: What are my chances of admissions?

November 24th, 2011 4 comments

I’m currently a senior, and I need to start weighing my odds at getting into certain schools. I’ll compile a short, but detailed list of my high school career so far, and please let me know what you think. I’m currently looking at the University of Richmond, UVA, UNC Chapel Hill, Boston College, Lehigh University, and comparable Universities. My intended major is in business. I live in PA.

Freshmen Year
Algebra 1- A
Honors Science (Earth/Space)- A
Wellness/Fitness- A
Music Theory 1- A
English 9- A
Honors History (African/Asian)- A
Spanish 3- A
Life and Career- A
Software Applications- A

Freshmen Soccer Team
Two local recreation teams, both seasons
Local travel league for soccer

Sophomore
English 10- A
Business and Personal Law- A
Honors Science (Bio)- A
Honors Math (Geometry)- B
Honors History (Western Civ)- A
Spanish 4- B
Health- A
Introduction to Business- A

Two rec. soccer leagues, both seasons
Local travel league (different one)
FBLA state qualifier (8th place)
NHS inductee
International Club
Started a chapter of Key Club International in my school
Attended PFEW (business camp)

Junior
Honors Math (Alg 2)- B
English 11- A
AP US History- A (I got a 5 on the exam)
Honors Spanish Seminar 5- B
Entrepreneurship and Corporate Dynamics- A
Honors Chemistry- B
Phys-ed 1- A

Assistant coach for younger soccer league, both seasons
2 soccer rec leagues, both seasons
Job at Red Robin (8-12 hrs a week)
Started Key Club and chartered it/ President and re-elected as President
National Honors Society
FBLA officer/state qualifier for banking and financial systems (Received 4th place in State)
International club
Debate club
Get Real Program Chief Operations Officer (Business Department in my school forms a student-run business every year, where students in Entrepreneurship class literally run and control the business until the end of the year).
Currently have internships at local Chamber of Commerce and a local business called A Basket Case/MultiTouch Marketing Solutions. I’ve worked at the chamber for 6 months and a basket case for 2 months for about 11 hours a week.
Created a business in which I give private soccer lessons.
Qualified for a national poetry contest. I’m currently a semi-finalist.

Senior Year
AP Statistics- A so far
AP History (Gov/Economics)- A so far
AP Biology- A so far
Honors English 12- A so far
Math Analysis- A so far
Honors Spanish Seminar 6 (Taking AP test)- B so far

Currently have a 29 ACT score, 1980 SAT score, and a 730 US History SAT II and 5 on the AP US History exam.

I have strong letters of recommendations from both internships and a school teacher who oversaw me during my the Get Real Program.

Additionally, I was recruited to work at a bank. I accepted the offer and will start in December. I am still doing all the other extracurriculars above, save the internship at the local chamber of commerce and debate club, but add coaching in a soccer league as opposed to assistant coaching.

So what do you think? Do I stand a chance at being accepted into these colleges? Thanks!

I have over a 4.0 weighted, and a 3.75 unweighted and rank in the top 15% of my class.

Does anyone know a good veterans story to honor the day?

November 20th, 2011 1 comment

I am a veteran of the US Army Pershing Missile Unit. When people have thanked me for my service I am taken back and embarrassed. I did not fulfill my entire 3 year hitch. They called it unsatisfactory performance. I was an Equipment, Records and Parts Specialist. Anyone who know me knows I really account for and take care of equipment. So what really happened? Well it had to do with sloppy leadership. Five page deadline report, Sgt Smith if that was really even his real name signing every vehicle inspection. Vehicles I never even saw near the bays. And this man came to the motor pool every morning spit shined and left every day at five looking every bit as spit shined as he arrived. How can you inspect a vehicle and not get a drop of grease or oil on you? Motor pool was when I arrived a part of Head quarters platoon until the Captain decided that motor pool should be its own platoon and pull the same amount of guard duty as all the bigger platoons who spent most of their day hiding from duty because they are essentially wartime operations, ie grunts and radio operators while motor pool was already open like a 7-11. I can’t count how many times they woke me up to dispatch a vehicle. So if things weren’t bad enough they give the order they are bringing in the missile parts thru the motor pool. Now I have had enough. There was no way I was going to be responsible for a missile part that cost 125,000 dollars and can fit in you back pocket. I threatened to go to the Inspecting General. This did get them worried and the leaned on me hard. I really got hit on the duty roster. The pressure took its toll and when they offered the chapter out I took rather than go thru the investigation. But looking back at their response. The paperwork issues got addressed. They brought in Warrant Officers to handle the missile parts and many other readiness issues were addressed because of me who would not just settle for business as usual. I pushed those men to do better even though I sacrificed my career and for that I am proud. If I do anything that helps a man be a better man I will take pride in it. I did take my duty on the missile site seriously. A sergeant found that out when he did not know the password and he approached my tower. Twice I told him to halt and he did not so I locked and loaded. And told him to drop that time he did and his comrades ran to the shack, his untethered helmet had fallen aside and when he had enough nerve to look up at me it was quite obvious that if he moved from the prone position I would take the head shot. I was willing to shoot a man in the head if I had to and I know I would have. The protocol is the protocol.

how to transfer a domain?

November 12th, 2011 2 comments

I am the former administrative contact for a domain that was involved in a Chapter 7 bankruptcy in February 2011. It was purchased on October 11, 2011 from the estate of its bankrupt owner and the U.S. Bankruptcy trustee has ordered its transfer from the prior owner to a new owner.
I have copies of the legal order and purchase-and-sale agreements and would be happoy to provide them to Yahoo, but as I am unable to manage this domain online — or to reach Yahoo domain or small business support by phone or email.
How should I proceed?

What happens to bank loans in case the debtor company goes insolvent?

October 27th, 2011 2 comments

I would like to know the fate / process of recovery of bank loans in case the debtor business goes insolvent / bankrupt with particular reference to UK laws. What could be the precautions which a lending banker may take while lending to ensure recovery in case of insolvency / bankruptcy?

Is it against the law to place business revenues into another person's personal account due to a bankruptcy?

October 23rd, 2011 3 comments

Categories: Business Bankruptcy Q and A Tags:

Is God punishing me for something?

October 3rd, 2011 11 comments

I found a job which I thought would be good fit for me. I’m starting to realize that I work for a boss who is discriminating, an alcoholic and has made several attempts to come on me, I have not given him any responses. I have brought his business back to life because when I took the position I thought he was kind and honest and he made it seem like people had used him and taken advantage of him. Now I feel that he’s been playing head games with me because I wont give in to his advances. He told me directly that he wants me to hire someone for him who is "loose and easy" and other things which I wont mention. I usually dont pay much attention because he’s drunk. He’s constantly lying to people, things of which I know are not true. I’ve seen him watching porn at work. He is an alcoholic and sees patients while hes fully drunk. I would leave but Im having a hard time with this economy to find anything else. I also feel that he’s using me to fix his own problems and when hes not able to fulfill his responsibilities, he holds me responsible. He cant drive due to several DUI’s which I just found out about and asks me to pick him up and drop him off at home which is out of my way. I’be been doing it out of the goodness of my heart and having good work ethics. He’s going through divorce, bankruptcy and many law suits from previous employees. I really need the job as I am putting myself through school and dont have any other source. I have been praying and asking God for help. What do I do in the meantime ?
As an empath I feel he’s feeding off of me and draining me so I would give in eventually. What do I do, in the meantime? Please advice.

Thank you

What are my chances of getting into University of Illinois?

September 12th, 2011 1 comment

What are my chances of getting into the University of Illinois?
I want to apply for General, then maybe switch to either Business or Engineering.

Here are my scores-

G.P.A

3.4 W
3.4UW

ACT – 27

Extra-

President and founder of FBLA chapter at my school. – 3 Years
Freshman Basketball
Amnesty International – Years
MSA – 4 Years
Around 175 hours of volunteering
Played piano for 11 years
Summer internship in a Software company

Please advise me on how to move forward. I am still working on my ACT, trying to get it at 29+.

boyfriend sleep over at female friend's house?

September 11th, 2011 5 comments

we are together for 3 years. he will never cheat on me but Im having problems with his female friend that he met in business class this year and since then they’ve been texting to each other and going out for shopping. the other day he didn’t go to class to take her to the mall and I lost control and I got her phone number and called her. I started to curse at her then later my boyfriend got pissed of and broke up with me. we got back together again last week and I told him that I was sorry and that it would be better if I met her. he refused to introduce his friend and everytime that hisis talking to his friends on the phone I have to keep my mouth shut bc he said to his friends that we are not together anymore and he doesn’t want to feel stupid around them. so I got really upset and he broke up with me again on Tuesday and back again on Friday. yesterday he told me that he slep over at her place on Tuesday but didn’t tell me the reason why and he swears that they didn’t have any physical contact. he slept on a separate bed in the same room. so today I went to check his text messages to find out why he went there. she started with " omg I can’t finish my paper and I have to study 13 chapters for tomorrows exam, can you come over to help me?" he said " yes why not I’ll be there in 15 min" then she said" oh you’re my hero". this is not the first time that she tells him to go to her house. since he started to go out with her he hasn’t take me to anywhere. he never help me to study like he helped his friend. He told me that they would never get involved because she is ugly, much older then him and she is probably dirty cuz she is a typical bartender that sleeps around. lately he’s been asking me for more freedom (which he never asked me before), wants to experience more things in life and not having only one gf stuck in his whole life. he said he will sleep over and go out with her as much as is necessary. am I paranoid or I have my reasons to be worried about this skank? I don’t mind him having friends but why being friends with such person? I don’t think she is a good influence to him. she is 29. he is 22 and I’m also 22. PS: I need serious answers please, I’m trying to save my relationship.

Traffic School Questions?

September 10th, 2011 1 comment

1 : U-turns may NOT be made:
a) if you are mid-block in a business district.
b) if you are in front of a fire station.
c) by crossing a curb or two sets of double lines.
d) if a "no U-turn" sign is posted
e) all of the above.

2 : Which of the following procedure should you NOT use if you breakdown on the freeway?
a) pull to the shoulder.
b) use hazard lights.
c) exit on the passenger side of your vehicle
d) use reflector
e) stand in front of your vehicle.

3 : Motorcyclists must make critical adjustments when:
a) involved in a skid or blowout.
b) crossing railroad tracks.
c) hit by a gust of wind.
d) riding on wet surfaces.
e) all of the above.

4 : A protected left turn at an intersection is distinguished by a:
a) red light.
b) green arrow.
c) yellow arrow.
d) no arrow.
e) green light.

5 : Headlamps should be activated during times of darkness and when visibility is limited to:
a) 5000 feet or less.
b) 4000 feet or less.
c) 3000 feet or less.
d) 2000 feet or less.
e) 1000 feet or less.

6 : The NOTS program has to do with:
a) drinking and driving.
b) speeding.
c) road rage.
d) faulty equipment.
e) too many traffic tickets.

7 : The stopping distance at 50 mph is:
a) 50 feet
b) 100 feet
c) 150 feet
d) 200 feet.
e) 300 feet.

8 : A "space cushion" has to do with:
a) air bags.
b) vehicle bumpers.
c) space around your vehicle.
d) emergencies.
e) turning.

9 : The organs most affected by heavy drinking are the brain, heart, and:
a) lungs.
b) thyroid.
c) eyes.
d) kidneys.
e) liver.

10 : Speed limit signs are posted for:
a) rainy weather.
b) foggy weather
c) ideal daytime driving conditions.
d) day and night driving.
e) to catch speeders.

11 : The law requires drivers approaching a school bus with flashing lights to:
a) slow through the area.
b) slow, then go.
c) go through the area at 10 miles per hour.
d) stop only for children.
e) stop and wait until the red lights have stopped flashing.

12 : An accident report (SR-1) must be filed with the DMV within 10 days in the event of an accident that has resulted in injury, death or damage of more than $_______.
a)
b) 0.00
c) 0.00
d) 0.00
e) 0.00

13 : Bicycle riders under the age of 18 must:
a) have a driver’s license.
b) wear a helmet.
c) wear a jacket.
d) wear gloves.
e) wear a glasses.

14 : Under Licensing Control Measures, a traffic violation stays on your driving record:
a) 12 months.
b) 24 months
c) 36 months
d) 48 years.
e) 72 years.

15 : A "stale green light" means the traffic signal is about to change from:
a) yellow to red.
b) green to yellow.
c) red to green
d) green to red.
e) none of the above.

16 : In the chapter on Defensive Driving, all of the following techniques should be used to avoid being rear-ended EXCEPT:
a) increase following distance.
b) signal early for signs and stops.
c) brake smoothly and gradually.
d) check mirrors.
e) wait until the last moment to brake.

17 : The maximum speed limit on most freeways is:
a) 50 miles per hour.
b) 65 miles per hour.
c) 75 miles per hour.
d) 80 miles per hour.
e) none of the above
Best answer will be chosen.

Question about 1 Thessalonians 4:11-12?

September 6th, 2011 9 comments

I was doing my daily Bible reading and I read through the chapter 1 Thessalonians 4, today.
I have a question for you Christians and Bible Scholars about this passage.

I will use excerts of it, to re-familiarize you with it.

" This should be your ambition: to live a quiet life, minding your own business and working with your hands"

Is Paul saying when writing this, that Christians should do Trade-related jobs, that involved working with the hands?%

A fighter or a Fixer – ?

September 4th, 2011 1 comment

Do we need a fighter or fixer in the White House? Clinton says she is ready to fight for America – she has been fighting in Washington for 15 years; most often in support of big business and at the expense of low income families. She supported the bankruptcy law that has devastated thousands of middle class and low income families. She has been fighting to get her health bill passed with no success. That is what is wrong with our political circus; they fight each other and accomplish nothing!! Do we need to send a fighter to the White House or do we need to send someone who is ready to clean up the mess three previous presidents has left behind? Fighters belong in the alleys not in the White House!

IS THIS GOOD im 13 thought of it drving home?

August 26th, 2011 1 comment

People Itch for money, its not something we need its something we feed on, We as people would do whatever it takes to get money as if it controls our minds. And I believe money controls half of the worlds minds, we kill for money we steal but we (my brother and I) take something you love and cherish… but don’t worry we will give it back unless, we are not given a reward.

Just like I said people would do whatever for money people would do anything for their children. See my brother and I got a little family business going on. Imagine this nightmare… we take your precious possession (child), you put up a reward, this is where the family business comes in to play….like I said anything for money, We deliver the goods and you supply us with a cure for our itch and trust me its not calamine lotion.

Chapter 1

Where do these sick minds come from? You may ask, but their reasons we do this see my brother was the money lover as a kid also the bad one. He did what every he could to get money and money fast he started off selling baseball cards then lemonade stands, then his life stared taking a turn. He started selling drugs and stealing from houses. Two breaking and entering and two drug possession also he has scars from being beat up by gangs. Me I was a stay home kid who was a mommas boy but I always wanted to be like my big brother I wanted to be known I wanted to be the cool kid on the block not some wimp who cry when he scraps his knee.
It was 4:00 when we came to the creeks a community near by we went to the bus stop that’s are favorite place like a kid in a candy store we waited as if we were parents of a child. The bus stops with a screech and the candy runs out of the screaming with joy. My brother and I put on are black ski mask (we never take them off with a child that’s the rules ) and waited, until we saw a poor little boy with know parents waiting for him making him walk home. My brother started the car and slowly followed the boy, “Ha, Ha, Ha” we laughed, the expression of kids faces when we stop right next to them is priceless. We opened the door on the mini van and grabbed the boy he let out a yelp and I covered his mouth we check for witness and drove out only leaving the boys echo for help.
We brought him to a small warehouse and sat him down a gave him a bowl of cereal his face was pale and he shivered as he took each bite. We turned on the news to see if their talking about the boy and there he was, my brother turned to the boy and said “awe we’ll look your famous” I chuckled at his remark. I looked at the boy and saw more tears roll down his cheek. Sometimes I think this business is ruining lives but sometimes I think its good making parents more aware of their children but I’m just saying that to make
me feel better. I stopped thinking and turned to the news and focused on what I wanted to here the most the word reward and I heard it. We slept through the night in the warehouse itching are faces because of the itchy ski mask.
Next day came and it was time for action, we left the kid tied up acting as if we went to get something we took off the ski mask and are cloths and changed we waited for him to yell a couple times and ran in and untied him and picked him up and ran we called the cops and they thanked us and told us to drive to the sheriffs office, My brother grinned as he hung up the phone when we arrived the parents where already there the mom was tapping her foot and shivering as the dad was holding on to her and whispering in her ear. The mom thanked us she was tearing up when she picked up her boy the dad shook are hands and thanked us once more. We stood there quietly and waited for the pen to come out her purse with a check there it was a little taste of are cure. We went to the bank and cashed in the check five thousand dollars was one of the things that put a smile on his face that and a Childs scream.

Can someone keep work equipment in a chapter 7 bankruptcy in the state of New York?

August 21st, 2011 1 comment

There is a utility trailer and some lawn equipment that is needed to keep the business going, would that be liquidated in chapter 7 or is work equipment safe? Chapter 13 plan is no longer feasible and there is consideration to convert to 7 but the work equipment must be preserved. Please let me know specific to New York State, because NY is always "different".

I received a letter from a law firm threatening to file a lawsuit over my old credit card debt…?

August 11th, 2011 8 comments

Unfortunately I used this personal credit card to help fund my business because I was trying to save the business from bankruptcy. My business went bankrupt and my credit card companies reported as charge-offs on my credit report. I understand that I am personally responsible for this debt, but I have no income as I stay at home with my autistic son. I too have a disability (bipolar and asperger’s disorder) and I have a hearing about to be scheduled with social security.

So here are my questions:

The debt incurred in Idaho. Chase Bank wrote my debt off their books. They sold my debt to "Midland Funding LLC". I never received notice that this debt was sold, just found out today via the letter. So now "Midland Funding LLC" hired a collections law firm and they sent me a letter threatening to file a lawsuit. I am sending them a letter requiring validation of debt and reminding them of the fair debt collection practices act (or whatever its termed).

*Can a collection law firm sue me in Utah for debt incurred in Idaho?

*The letter was addressed to myself only. My husbands name wasn’t on the letter, and I don’t believe that he signed for the credit card with Chase. I don’t remember if he was an authorized user on the account. CAN THIS LAW FIRM SUE MY HUSBAND FOR THE DEBT?

*If I lose in court, is it probable that my husband’s wage will be garnished? I won’t have any income except for my husbands wage (which only pays our essential living costs, no money left over) and my son’s SSI. I might be awarded SSDI, and if I do, the social security income for my son and I combined will be 0 per month.

**My husband will probably only make K this year.

And its interesting that this law firm has had 29 complaints, half of which were reported to the BBB (they have an F rating which is probably common for collection law firms), the rest of the complaints were reported to the Consumer Protection Agency for collections violations.
Thanks for all the answers! Yes, of course I know that "this is what I get for not paying it off". To be honest, there isn’t much that I could have done when it comes to paying this debt. My husband operated a very successor business for 10 years. On the 11th year when hard financial times hit, visitors to the resort dropped to 1/2. We couldn’t buy food or medical services for my son as medical insurance didn’t cover Autism. As we were nearing bankruptcy we tried to sell the business and had a buyer until our landlord (a ski resort) broke there end of the lease and opened the exact same type of store in our place. So THIS is why I am trying to figure out how to win this case. We have NO assets we lost them all. I’m not writing the details as an excuse, it explains why I can’t pay any extra bills then necessity.

-->