【正文】
payable $ Notes payable Accrued wages Federal taxes State and local taxes First mortgage Second mortgage Subordinated debentures* $ *Subordinated to notes payable. (More...) 25 19 Copyright 169。 20xx Harcourt Inc. All rights reserved. ?Secured creditors. ?Trustee’s administrative costs. ?Expenses incurred after involuntary case begun but before trustee appointed. ?Wages due workers within 3 months prior to filing. List the priority of claims in a Chapter 7 liquidation. (More...) 25 17 Copyright 169。 20xx Harcourt Inc. All rights reserved. ?Permits the firm to issue debtor in possession (DIP) financing. ?Gives debtor exclusive right to submit a proposed reanization plan for agreement from the parties involved. ?Reduces fraudulent conveyance problem. ?Cramdown if majority in each creditor class approve plan. 25 15 Copyright 169。 20xx Harcourt Inc. All rights reserved. ?Informal Reanization: ?Less costly ?Relatively simple to create ?Typically allows creditors to recover more money and sooner. What are the major differences between an informal reanization and reanization in bankruptcy? (More...) 25 13 Copyright 169。 20xx Harcourt Inc. All rights reserved. ?Chapter 11: Business reanization guidelines. ?Chapter 7: Liquidation procedures. ?Trustee: ? Appointed to control the pany when current management is inpetent or fraud is suspected. ?Used only in unusual circumstances. Describe the following terms related to . bankruptcy law: (More...) 25 11 Copyright 169。 20xx Harcourt Inc. All rights reserved. ?Workout: Voluntary informal reanization plan. ?Restructuring: Current debt terms are revised to facilitate the firm’s ability to pay. ?Extension: Creditors postpone the dates of required interest or principal payments, or both. Creditors prefer extension because they are promised eventual payment in full. Informal Bankruptcy Terminology (More...) 25 9 Copyright 169。 20xx Harcourt Inc. All rights reserved. ?Should the firm file for ba