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...“[W]ithout the releases, there is no settlement, the debtors likely would be forced into a Chapter 7 liquidation, and unsecured creditors would probably recover nothing from the debtors’ estates,” Purdue...
...They also worked with Huachen Energy, a distressed power supplier, to secure US Chapter 15 recognition for a debt restructuring agreed in the People’s Republic of China....
...Mr Kamensky would later tell the US trustee overseeing the bankruptcy proceedings that he had “made a grave mistake”....
...Those filing under Chapter 7 can look forward to total release from most debts but if they have any assets, the trustee will normally liquidate those to pay creditors....
...a data trustee....
...Under a Chapter 7 bankruptcy, a company’s assets are liquidated under the oversight of a trustee to pay back creditors....
...After weeks of negotiations, Polaroid debtors converted their claims to those administered under Chapter 7 of the Bankruptcy Code, a liquidation proceeding....
...standing at 10 per cent in France, 6 per cent in Belgium and 7 per cent in Germany...
...Peregrine filed for Chapter 7 bankruptcy liquidation in July, indicating that it had assets of between $500m and $1bn and liabilities of $100m to $500m....
...The plan would give senior note holders 7.4 per cent of Tribune’s “distributable value” through cash, debt and stock....
...Overruled Koh was the only director and the 99.9999% shareholder of Consult Asia, which issued a USD 32m, 7% UBS-arranged bond in January 2007 to fund the development of a mall and serviced apartment complex...
...Those entities must file under Chapter 7 rules, which are the procedures for liquidation, under the assumption that it is the best way to protect customers....
...Bank of New York Mellon has an additional $17bn in exposure to both subordinated and junior subordinated debt, again as an indenture trustee....
...Despite what seems like a very grim outlook, he said there would not be a “significant impact” on its financial health, added Reuters: “We have over $7.5bn of capital and while any loss might have an impact...
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