Time to Nationalize Insolvent Banks

In Indonesia as well, the Government has closed down a number of insolvent banks.

(a) The responsibility of any other company in the group for the external debts of the insolvent company (being all debts owed by the insolvent company except for those owed to related group companies, i.e. intra group debts )

ATHENS The point of restructuring debt is to reduce the volume of new loans needed to salvage an insolvent entity. Creditors offer debt relief to get more value back and to extend as little new finance to the insolvent entity as possible.

In addition, in Australia, the insolvency legislation provides for the liability of a holding (parent) company for the debts of a subsidiary company that became insolvent if it is established that the subsidiary was permitted by the parent to engage in insolvent trading.

Greece s GDP, moreover, has shrunk by 25 since the start of the crisis in 2009. Its government is insolvent.

And do not make your hand as chained to your neck or extend it completely and thereby become blamed and insolvent.

And do not make your hand as chained to your neck or extend it completely and thereby become blamed and insolvent.

(g) Guidelines that, in certain circumstances, provide for a parent company to be liable for the debts of an insolvent subsidiary.

A bankrupt Conference on Disarmament will eventually lead to an insolvent Treaty unless other multilateral channels are found to advance its disarmament agenda.

Contribution payments would generally be made to the insolvency representative administering the insolvent estate for the benefit of the estate as a whole.

Another 1.5 trillion is needed to bring banks capital back to pre crisis level, which is needed to resolve the credit crunch and restore lending to the private sector. So, the US banking system is effectively insolvent in the aggregate most of the British banking system looks insolvent, too, as do many continental European banks.

One of the company's employees entered a third party challenge to this ruling in an attempt to show that the company was not insolvent.

(d) Guidelines allowing an insolvency representative in the insolvency of a holding company to steer the actions to be taken by the (insolvent) subsidiary

This rule may be helpful in those legal systems in which commencement of insolvency proceedings requires proof that the debtor is in fact insolvent.

Had no action been taken, the Agency would have become insolvent towards the end of 1997 and would have been forced to cease operations.

When the association became insolvent and failed to pay the rent, the defendant resorted to the guaranty and received the outstanding payment from the bank.

In addition, the Model Provisions deem the recognized foreign proceeding to constitute proof that the debtor is insolvent for the purposes of commencing local proceedings.

It provides specific rules of jurisdiction, applicable law and recognition of judgements, while enhancing coordination of the measures to be taken regarding an insolvent debtor's assets.

Australian legislation also provides for the avoidance, in summary fashion, of pre bankruptcy transactions entered into by an insolvent company with another company to which it is related.

Go home. Go, go, go.

Go, go, go, go! Run!

Go, go, go.

Go, go, go!

Go... go... go.

Go, go, go!

When private firms (or subnational governments) become insolvent, there are normally legal bankruptcy procedures to determine what to do. Without such procedures, a market economy would be unable to function.

Now, go, go, go!

First, it aims to ensure that obligations are fairly and regularly met when a debtor becomes financially insolvent. Thus, it seeks to protect the lawful rights of both creditors and debtors.

The authorities are committing at least two mistakes. One is that the bondholders of insolvent banks are being protected at the expense of taxpayers for fear of provoking a financial crisis.

Go on, go on, go on.

Let's go, let's go, let's go.

Go on, go on, go on.

Go on, go on, go on.

Go. Go!

Go, go!

Go, go.

Go. Go.

Go, go!

Go... go!

Go, go!

Go! Go!

Go, go.

All the members of the Committee must have been shocked to learn from the special report of the Commissioner General of UNRWA on the financial crisis of the Agency, annexed to the Note by the Secretary General (A 51 495), that the Agency might keep going until all available funds were used up, then declare itself insolvent and go out of business.

Yes, I'll go. I'll go. I'll go.