Urbi is considering a filing under Mexico's bankruptcy law, some people familiar with the situation said.
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Last year a new bankruptcy law came into effect, but it is incomplete and poorly understood.
Only empirical research can determine whether, on balance, bankruptcy law helps or hurts entrepreneurs.
The new Italian bankruptcy law rushed through Parliament on December 23rd has not mollified these concerns.
Thailand is only now introducing a bankruptcy law with a provision for restructuring debts.
He would like a fully-fledged international bankruptcy framework, modelled on chapter 11 of the American bankruptcy law.
Bankruptcy law does not require insolvency, only that the debtor be unable to pay debts as they come due.
It would amend federal bankruptcy law to require more disclosure of asbestos claims.
Others, such as creating an effective bankruptcy law, are still to be proposed.
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In recent weeks two badly needed laws, a bankruptcy law and a loan-guarantee law, were passed after months stuck in Congress.
The explanation lies in a change in the American bankruptcy law in October 2005, which made going bust less attractive for borrowers.
In 2007 China adopted a new bankruptcy law its first since 1949 and 11 years in the making that makes it easier to restructure insolvent firms.
Indonesia, beset by violence and economic collapse, has many other troubles, but the courts' mishandling of a new bankruptcy law has made matters worse.
Using the bankruptcy law to threaten rejection of its labor contracts, United forced the unions in 2003 to accept large cuts in wages and benefits.
Important features of domestic bankruptcy law an impartial judge, protection from lawsuits, the ability to force restructuring terms on recalcitrant creditors do not exist for sovereign borrowers.
Partly as a result, Beijing is now putting the finishing touches to a new bankruptcy law which vastly increases the rights of creditors and clarifies the procedure.
Knowing financial markets might tumble on the news, the Senate reassured them by approving a much-needed new bankruptcy law on the same day as the minimum-wage vote.
Congress could monkey with that scheme through bankruptcy law, however, something it has done repeatedly to protect the interest of other special creditors including student lenders and landlords.
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Second, as with municipal bankruptcy, a new bankruptcy law would allow states in default or in danger of default to reorganize their finances free from their union contractual obligations.
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The IRS investigations area also likely to affect consumers, thanks to a new bankruptcy law that requires consumers considering bankruptcy to get counseling before they are allowed to file.
There are pending reforms to enact, such as a bankruptcy law and a measure to encourage private investment in public works, and talk of more ambitious steps to follow.
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It is now plain that most of the money cannot be recovered by selling assets, because the loans were badly set up, and Mexico's bankruptcy law and judicial system are inadequate.
Despite considering anti-predatory lending legislation, Congress is likely soon to pass a new bankruptcy law that would sharply limit consumers' ability to discharge their debts and start with a clean slate.
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But a new obstacle has arisen: Congress has approved two bills whose effect is to reverse the recent repeal of a bankruptcy law which favoured debtors at the expense of banks.
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That change in the bankruptcy law requires Congressional approval.
The case is set to be a big test of China's new bankruptcy law, which came into effect in 2007 but has rarely been applied to overseas-listed companies with assets in China.
The 2005 law, a set of amendments to bankruptcy law passed in 1978, was precipitated by a concern among lawmakers that the bankruptcy system was too lenient and was being abused, observers say.
But the Chapter 9 bankruptcy case also is being closely watched nationally for the potential precedent-setting implications: whether federal bankruptcy law trumps the California law that says debts to the state pension fund must be honored.
That's the amount Zabel all but concedes Picard has the right to collect under New York State and federal bankruptcy law clawbacks, because it is what Picower took out in the six-year period prior to Picard's suit.
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