Financial Company Bankruptcies: Need to Further Consider Proposals' Impact on Systemic Risk (Paperback) (ISBN-13: 9781503201279)

Bankruptcy is a federal court procedure conducted under the Code. The goals of bankruptcy are to give individuals and businesses a "fresh start" by eliminating or restructuring debts they cannot fully repay and help creditors receive some payment in an equitable manner. The filing of a voluntary bankruptcy petition operates as an "automatic stay" that generally stops lawsuits, foreclosures, and most other collection activities against the debtor, allowing the debtor time to eliminate or restructure its debts. In bankruptcy, equitable treatment of creditors means that all creditors with substantially similar claims shall be classified similarly and receive the same treatment.

Author: Government Accountability Office
ISBN-10: 1503201279
ISBN-13: 9781503201279
Publisher: Createspace Independent Publishing Platform
Language: English
Published: 12/31/2014
Pages: 74
Format: Paperback
Weight: 0.43lbs
Size: 11.02h x 8.50w x 0.15d