CHICAGO When a profitable company is hit by a very large liability, the solution is not to have the government buy its assets at inflated prices. The solution, instead, is protection under bankruptcy law, which in the United States means Chapter 11.

Chapter 11.

This institution should be an international version of the US Chapter 11 Bankruptcy Code. But, while the goal of Chapter 11 is to save the ongoing value of a firm, the goal of the international resolution mechanism should be to preserve the ongoing value of the counterparties of insolvent financial institutions.

Part II, chapter 11

Chapter 11, Right of Control

Chapter XI Article 11 (Employment).

Chapter 11 Economic and social rights of women

Chapter 5 Protection of the Customer s Assets

CHAPTER V PROTECTION OF COAL MINING AREAS

For the text, see chapter II, section A, resolution 2005 11.

Draft article 11 Protection of shareholders

ARTICLE 11 LABOR, PENSIONS, AND SOCIAL PROTECTION

(For the text of the resolution, see chapter I, section D, resolution 48 11.

For the text of the resolution, see chapter II, section A, resolution 2005 11.

Since we do not have time for Chapter 11 proceedings and we do not want to bail out all the creditors, the lesser evil is to do what judges do in contentious and overextended bankruptcy processes impose a restructuring plan on creditors, with part of the debt forgiven in exchange for equity or warrants.

Empowering Financial Bankruptcy

At its closing plenary, on 11 March 2005, the Commission adopted its agreed recommendations (see chapter I).

Bankruptcy Comes to China

Chapter 1 Constitutional and legal framework for the protection of the rights of women (articles 1 to 3)

Having considered chapter V of the report of the Committee on Contributions on its sixty seventh session,Official Records of the General Assembly, Sixty second Session, Supplement No. 11 (A 62 11).

When a large financial institution is insolvent, the IMF should take it over, guaranteeing its short term obligations, but wiping out the shareholders and repaying the long term creditors only after all the other creditors (including the IMF itself) are repaid. Some people would scream that this is tantamount to nationalization, but it is no more a nationalization that the US Chapter 11 bankruptcy process is.

Technical cooperation and capacity building for the promotion and protection of human rights 11

The presentation of UNIDO's technical cooperation activities and its service modules (chapter III refers) follows the results based management principles as laid out in the revised programme and budget proposals (GC.11 11).

It's the IMF Sovereign Bankruptcy Plan, OK?

An informal paper explaining the background for and contents of chapter 11 had been submitted to and was discussed at that seminar.

The other three, the International Statement of United States Bankruptcy Law, International Statement of Canadian Bankruptcy Law, and International Statement of Mexican Bankruptcy Law describe the bankruptcy laws of the three NAFTA States, and set out principles governing multinational insolvency cases which involve assets located in one or more of the three NAFTA countries.

That is what destroyed AIG, and what led to the recent bankruptcy of Abitibi Bowater and the pending bankruptcy of General Motors. In both cases, because some bondholders owned CDS contracts, they stood to gain more from bankruptcy than from reorganization.

The principles contained in this chapter shall be applicable, as appropriate, to the diplomatic protection of legal persons other than corporations.

Having considered chapter V of the report of the Committee on Contributions on its sixty sixth session,Official Records of the General Assembly, Sixty first Session, Supplement No. 11 and corrigendum (A 61 11 and Corr.1).

International Association of Restructuring, Insolvency and Bankruptcy Professionals (INSOL)

The CHAIRPERSON invited comments on the draft decision on agenda item 10 (e) contained in chapter II, section B, of document GC.11 CRP.4.

A number of countries have implemented reforms to bankruptcy law.

Investors have to date filed a number of NAFTA Chapter 11 cases in a variety of sectors including environment, tobacco controls, pharmaceutical licensing and pesticide ingredients.

Proposal by International Association of Restructuring, Insolvency and Bankruptcy Professionals (INSOL)

11. Acknowledges the contribution of the Melanesian Cultural Centre to the protection of the indigenous culture of New Caledonia

11. Acknowledges the contribution of the Melanesian Cultural Centre to the protection of the indigenous culture of New Caledonia

The Interim Constitution, which had been approved the previous July, included an entire chapter on the enhancement and protection of human rights and fundamental freedoms.

The successful implementation of China s revised Bankruptcy Law hinges on its effective enforcement and abandonment of the mindset and practices shaped under the old version, especially in the era of policy based bankruptcy. Despite the difficulties that remain, China s bankruptcy legislation is increasingly adapted to the market economy the trend is irreversible.

11. Acknowledges the contribution of the Melanesian Cultural Centre to the protection of the indigenous Kanak culture of New Caledonia

The Framework for joint UNIDO UNDP technical cooperation programmes on private sector development , complementary to the Cooperation Agreement, was the subject of chapter III of document GC.11 7.

Taking into account views and comments expressed in the Sixth Committee on chapter IV on diplomatic protection of the report of the Commission,Ibid., para. 50.

Bankruptcy legislation in China started right after Deng Xiaoping launched his pro market reforms three decades ago. The Law on Enterprise Bankruptcy (Trial Implementation), the first of its kind, was enacted in 1986.

C. Dumas, The Economic Impacts of Banning U.S. Pelagic Longline Fishing, Eastern Pacific (U.S. West Coast) Longline Fisheries, Chapter 2, unpublished research report, January 15, 2005, pp. 11 and 21.

The modalities could draw on the principles laid out in national bankruptcy procedures.

The Department of International Protection participates in inspection missions with the Inspector General's Office and in assessment missions, in accordance with chapter 2 of the UNHCR Manual.