Bankruptcy stories:
GOP official off base with GM remarks
Nov 17th, 2009 - Freep
As if we needed more proof that America's politics are poisoned beyond belief, now we have Michael Steele, chairman of the Republican National Committee, pouncing gleefully upon news of General Motors Co.'s $1.2-billion third-quarter loss...GM Turnaround Pivots on Sales After Henderson Slashes Costs
Nov 17th, 2009 - Bloomberg
Nov. 17 (Bloomberg) -- General Motors Co. Chief ExecutiveOfficer Fritz Henderson, buoyed by $50 billion in U.S.bankruptcy aid, slashed debt and operating costs withoutreturning to profit...
GM Posts $1.15 Billion Quarterly Loss After Exiting Bankruptcy
Nov 16th, 2009 - Bloomberg
Nov. 16 (Bloomberg) -- General Motors Co., the successor tothe automaker that slid into bankruptcy this year, said it lost$1.15 billion in the third quarter after its July 10 exit from aU.S.-backed restructuring.
GM, 61 percent owned by the U.S...BREAKING: GM to begin repaying $6.7 billion in US loans next month
Nov 16th, 2009 - Autoblog
General Motors will announce later today plans to repay the U.S. government some $6.7 billion in loans ahead of its initial due date of July 2015. The payments are expected to begin as early as next month...GM to start repaying $6.7 billion US government loan: source
Nov 16th, 2009 - Reuters
WASHINGTON (Reuters) - General Motors Co. will announce on Monday it plans to start repaying a $6.7 billion loan to the U.S. Treasury by year-end due to modest operating improvements...
Bankruptcy videos from YouTube:
- Brigham's Ice Cream Filing...New England's Brigham's ice cream to file for bankruptcy
- Organization and Jurisdiction...Federal Judicial Center. Organization and Jurisdiction of the US Bankruptcy Courts. In this 37 minute program, Professor S. Elizabeth Gibson and the Hon. J. Rich Leonard (Bankr. EDNC) provide ...
- The Truth About Bankruptcywww.freebankruptcyevaluation.comBankruptcy Attorney Jamie Ryke of the Second Start Bankruptcy Law Firm talks about the Truth about Bankruptcy. Find out how we can help you get out of debt ...
- Credit Card Debt, Bankruptcy,&...Subscribe, rate, and comment :) Options for people in debt
Bankruptcy from WikiPedia:
Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).
The concept and origin of bankruptcy law as it is now known in the United States originated in England. The first English bankruptcy law is generally agreed to have been enacted in 1542. (34 and 35, Henry VIII, c.4 (1542) England.)
Actually, bankruptcy was originally planned as a remedy for creditors - not debtors. During the reign of King Henry VIII., bankruptcy law allowed a creditor to seize all of the assets of a trader who could not pay his debts.
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