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Special Report on

To Hold Bankruptcy Liquidation Sale

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Michigan-based General Motors Corporation (GM or the Company) is the largest automobile manufacturer in the world and one of the Big Three' U.S. automakers. The Company's business comprises automotive operations (over 90% of revenue) and financing and insurance operations. The automotive business is divided into four regions: GM North America, GM Europe, GM Latin America/Africa/Mid-East, and GM Asia/Pacific. The finance division consists of General Motors Acceptance Corporation (GMAC), and other financial services. The Company has sold off 51.0% interest in GMAC. After the GMAC transaction, GM accounts for 49.0% ownership ...
In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization). An involuntary bankruptcy petition may not be filed against an individual consumer debtor who is not engaged in business.
Bull City Rising: Durham's Ashley Furniture to close -- what's ...
In what's got to be the least-surprising retail move of the year, Ashley Furniture HomeStore is announcing the closure of its south Durham location, with a liquidation sale starting in July, according to a story in Furniture Today. Make that "lease-surprising," maybe. The Shopping Center Group -- owners of the Westgate Plaza adjacent to the old South Square Mall site -- had listed the Ashley Furniture retail space as being for-lease since at least January 2009. The company did not respond to an inquiry from BCR at that time about the property's fate. (The plaza is now apparently represented by one Sam Spiegel of ... market research, surveys and trends
Sorting Out GM Stock – Old versus New |
As General Motors prepares to register with the U.S. Securities and Exchange Commission for sale of stock in the new Company, confusion exists about the old stock of the bankrupt Corporation. It’s worthless. General Motors Company is the “new GM,” which emerged from bankruptcy last summer. All of GM’s continuing operations and assets are completely out of bankruptcy and are now operating as an independent and separate company called “General Motors Company.” It holds virtually all of the productive assets of the old Corporation. These include the Cadillac, Chevrolet, Buick, and GMC brands, and the plants and other hard ... market research, surveys and trends


Jewelers take over Shreve, Crump & Low, Schwarzschild in $12 ...
Richmond, Va.—A group of investors and jewelers was granted approval to buy two of the nation's oldest jewelry retail operations, Shreve, Crump & Low in Boston and Schwarzschild Jewelers in Richmond, Va., after the holding company that owned them, Tyringham Holdings, filed for Chapter 11. A consortium consisting of retail jewelers David & Co. of Chestnut Hill, Mass., and Schiffman's of Greensboro, N.C.; investors Tiger Capital Group of Boston and SB Capital Group of Great Neck, N.Y.; and The Gordon Co., a liquidator in Fort Lauderdale, Fla., stepped up as buyers after the Sept. 6 bankruptcy filing. The deal, reportedly ... industry trends, business articles and survey research
Chrysler Gets Judge's Approval for Asset Sale -
A federal bankruptcy judge has approved the sale of most of Chrysler's assets to Fiat, clearing the way for the American automaker to exit court protection shortly. Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing ... industry trends, business articles and survey research
Lehman Creditors, Rangers, St. Vincent, Black Crow, GM, DBSI: Bankruptcy
fired the opening salvo in a possibly protracted courtroom battle over how billions of dollars generated in the Lehman liquidation should be distributed to creditors. An ad hoc group of the creditors said in court papers filed yesterday that so-called substantive consolidation of 23 Lehman affiliates would increase recoveries for holding company creditors “by billions.” The group includes California Public Employees’ Retirement System, Canyon Capital Advisors LLC, Fortress Credit Opportunities Advisors LLC, Owl Creek Asset Management LP and Paulson & Co. Lehman filed a revised Chapter 11 plan and explanatory disclosure statement ... market trends, news research and surveys resources
Nortel Networks, ProtoStar, Black, RPM, PFF, ABC, FairPoint: Bankruptcy
When the sale closed in December, $30 million was placed in escrow with a bank to cover purchase-price adjustments to be made later. Nortel contends that Basking Ridge, New Jersey-based Avaya is claiming $22.1 million too much as an adjustment for excess inventory. According to Nortel’s calculations, the most Avaya can properly claim is $19.2 million. Consequently, Nortel wants the judge to direct that $10.8 million be released from escrow immediately, even before a decision is made about the excess inventory. A hearing on the dispute with Avaya is set for July 19 in the U.S. Bankruptcy Court in Wilmington, Delaware. Nortel ... market trends, news research and surveys resources


Oct 17, 2005 ... become employed, may wish to consider bankruptcy in order to avoid a garnish- .... lawsuits are put on hold, foreclosure proceedings are abated, and even the ..... the property could sell for in a liquidation sale. ... technology research, surveys study and trend statistics
Iowa Department of Revenue - Iowa Taxes
In most cases, when an auctioneer makes a sale, the auctioneer is making the sale on behalf of another individual or business. By law, this is known as an agent-principal relationship. Therefore, in order to determine responsibilities for Iowa sales tax, the status of the principal (the owner of the property) must be evaluated. The following general rules can be applied to determine if sales tax must be collected. If the owner of the property meets the requirements of the casual sale exemption, the sale is exempt from sales tax. If the owner is in the business of selling tangible personal property or taxable services on a ... technology research, surveys study and trend statistics
Sovereigns in Distress: Do They Need Bankruptcy?
In this context we can interpret bankruptcy liquidation as a mandatory ..... It attempted to raise its local sales tax, but vot- ..... even when they would prefer to hold out. Not surprisingly, creditors are ...
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How long will the Circuit City store closing sale last?
Circuit City Stores Inc.'s recent announcement that it would close all 567 of its U.S. stores caused dismay among employees and long-term customers but left some shoppers excited about looking for good deals. About 34,000 employees of the Richmond, Va.-based company will lose their jobs nationwide, and stores will close throughout the Bay Area, including locations in San Mateo, San Jose, Daly City and Sunnyvale. But with liquidation sales now under way, customers are complaining that prices are sky-high, and the company has little information on the number of local employees or details of the sales. Scott Carpenter, ...
WikiAnswers - Bankruptcy Law Questions including "How long does it ...
The US Bankruptcy Code that determines which debts may be discharged and which obligations will remain after a person or organization is deemed insolvent Total questions 14600 How long does it take for a person who has filed a Chapter 7 and has been discharged to apply for a credit card and or to finance a new car? While a Chapter 7 filing stays on your credit report for 10 years, it's important to remember that after filing for bankruptcy,... In Maryland if a chapter 13 is dismissed for missed plan payments can you refile chapter 13 immediately? Under the changes to the bankruptcy law, a debtor can refile his Chapter 13 ...