Puerto Rico’s Financial Future Now in the Hands of a Single Judge Overseeing Massive Bankruptcy

AMY GOODMAN: I’m Amy Goodman, on the road in Chicago. Juan González is in New York. JUAN GONZÁLEZ: We go now to Puerto Rico, which filed for a form of bankruptcy protection last week, seeking to restructure $123 billion in debt and pension obligations, in the largest local government insolvency in U.S. history. The move […]

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Roles And Responsiblities Of Licensed Insovency Trustee

Roles and Responsibilities of Licensed Insolvency Trustees (LITs) Licensed Insolvency Trustee (LIT) is the only authorized professional to administer insolvency, the state of being unable to pay one’s debt proceedings. These proceedings include commercial and consumer proposals and filing for bankruptcy. The Office of the Superintendent of Bankruptcy Canada ensures that all LITs comply with […]

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How Banks Can Fail Even Though They Print Money

The liquidity and solvency constraints on the banker are peculiarly tight. They have to hold some liquid assets and they cannot survive a substantial fall in the value of assets. The reason is because… banks issue liabilities, they’re extremely liquid and they have very little equity. Banks have very little equity. You look at a […]

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Dinner for Schmucks- An Insolvent Company with Toxic Assets & Currency Market Blowup

shed the workforce and sell the equipment. But now, it’s all contaminated with low-level radiation. – Nobody wants to touch it. – [scoffing] Americans are so uptight about radiation. They are. But the Russians are a little less particular about this sort of thing. I like it. Get two bids. Drive up the price. – […]

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Is it possible to keep the insolvency of my company private?

It possible to keep the insolvency of my company entirely private? There are different types of insolvency that a company may be subject to, it could be an administration, it could be a liquidation, it could be in a company voluntary arrangement. The administration and liquidation are more public in that any documentation being sent […]

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INSOLVENT DEFINITION BUSINESS RESTORED IN COURT OF APPEAL FOR ONTARIO

definition of appeal for Ontario introduction On November 28th 2018. I published my Brandon’s blog titled insolvent definition a new Focus for Toronto bankruptcy trustee. I heard about a recent decision of the Ontario superior court of justice in bankruptcy and insolvency. best 2018 onsc 6044 canli And that decision the judge gave a new […]

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What is a Licensed Insolvency Trustee

Licensed Insolvency Trustee (LIT) What does insolvency mean? Insolvency is the inability to pay one’s debts A Licensed Insolvency Trustee (LIT) is the only government authorized professional to conduct Insolvency proceedings such as Consumer Proposals and Bankruptcies LITs are regulated skilled professionals who provide assistance and advice to individuals and companies with financial difficulties Why […]

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