Accounting Tools

SEPTEMBER 21, 2023

Related Courses Bankruptcy Tax Guide Effective Corporate Turnarounds Essentials of Corporate Bankruptcy Essentials of Collection Law What is a Workout Arrangement? A workout arrangement is an out-of-court agreement between creditors and a debtor to revise the debtor's payments to the satisfaction of all parties.

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AUGUST 8, 2023

Related Articles Chapter 7 Chapter 11 Liquidation Reorganization Workout Arrangement Voluntary Bankruptcy Under the federal bankruptcy code, Chapter 7 addresses the complete liquidation of a debtor's assets, while Chapter 11 deals with the reorganization of the debtor business.

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Accounting Tools

DECEMBER 12, 2023

Related AccountingTools Course Corporate Bankruptcy Related Articles Creditors’ Committee Debtor in Possession Financial Distress Reorganization Voluntary Bankruptcy Workout Arrangement Assessable capital stock was issued primarily in the 1800s and partway into the next century, but has since been phased out.

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AUGUST 31, 2023

Related Articles Financial Distress Foreclosure Workout Arrangement This situation occurs when the cash inflows of a business are exceeded by its cash outflows, leaving no cash with which to make debt payments.

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Accounting Tools

MARCH 22, 2024

For example, approval is required before obtaining additional financing, selling assets that would not normally be sold in the ordinary course of business, retaining accountants or attorneys, expanding the business, closing it, or entering into or modifying leases, financing arrangements, or other contracts.

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Accounting Tools

OCTOBER 15, 2023

Related Articles Deficiency Claim Foreclosure Preferential Transfer Right of Setoff Workout Arrangement How a Writ of Execution Works Based on the authorization represented by a writ of execution, the sheriff seizes the assets of the debtor, conducts an auction of the seized assets, and transfers the proceeds to the creditor.

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Accounting Tools

SEPTEMBER 22, 2023

Related Articles Judgment Creditor Preferential Transfer Right of Setoff Voidable Preference Workout Arrangement If this is not done, employee turnover will likely be substantial, while the providers of inventory items, support services, and employee benefits will refuse to deal with the debtor.

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