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GMs Looming Bankruptcy - Reality or Myth?, 2006.
A discussion regarding the alleged state of General Motors.
1,125 words (approx. 4.5 pages), 3 sources, £ 31.95
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Abstract
This paper discusses how the major United States (US) automotive manufacturers all have market difficulties although General Motors' (GM) and Ford's difficulties are extremely serious. According to the paper, GM's current position in the US market is certainly fragile and is growing worse by the day. A recent observation by Flint seems to describe the solution to GM's problems as nothing that cannot be solved through ingenuity and hard work: "I've written this before and I'll write it once more. The graveyards, and the ocean bottoms, too, are full of men who underestimated American courage and determination". The paper further discusses how Flint seems intent on understating the true character of the issues that GM is facing and does not seem to realize that companies such as Toyota are not only working harder than GM but also possess a surfeit of courage as well.
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Bankruptcy Concept, 2008.
A description of bankruptcy laws and various issues surrounding the subject.
5,318 words (approx. 21.3 pages), 7 sources, MLA, £ 93.95
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Abstract
This paper discusses the issue of bankruptcy and describes the court process aimed at helping individual consumers and businesses get rid of their debts or to set up a plan to repay them. The paper also provides a history of bankruptcy law and discusses some of the advantages and disadvantages of the law. The paper concludes with 12 myths about filing for bankruptcy.
Outline:
History and Evolution of the Bankruptcy Law
General Concept
The Bankruptcy Code
The Bankruptcy Process
Advantages and Disadvantages, Alternatives
Myths about the Bankruptcy Law
From the Paper
"The concept of debtor default dates back to the time of the Code of Babylon's King Hammurabi in 1795 BC (ABC Amega 2006). The Code included early laws and rules for settling debts. In cases when the debtor could not repay, the creditor could confiscate his child, wife, slave or the debtor himself into bondage until the obligation was met. In ancient Greece and Rome around 31 BC, indebtedness remained a crime. It was only during the reign of Augustus that a distinction was made between the debtor as a person and his debts. The laws of the time allowed the debtor to choose between giving his property up or himself as repayment (Amega). The history of bankruptcy law consists of three phases (Duhaime 2007). The first phase involved basic debt collection. The Roman Law of the Twelve Tables in 450 BC provided for a method of dealing with debtors who could not repay their debts. Table III provided for a process, which first allowed the debtor to settle his obligation in 30 days or have someone pay for it for him. If the debtor failed, the creditor could bind the debtor with a weight of 15 or more pounds. The creditor could choose to feed him or not with a pound of meal each day. On the third "market" day, the creditor could divide the body of the debtor with other creditors among themselves. Under Roman law, the debtor who could not meet his obligation did not have to be cut into pieces but his creditor could have him imprisoned for life. The creditor also had the option to sell the insolvent debtor, along with his family, to permanent foreign slavery. The concept of imprisonment was adopted by some parts of India and with an added feature. The creditor could take the debtor's wife and, if he did, the act would cancel the debt. Under Charlemagne, the debtor had to surrender his possessions in order to escape or prevent imprisonment. Imprisonment remained an option for the creditor but torture was outlawed (Duhaime)."
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Federal Bankruptcy Law, 2004.
An overview of the procedure used to file for bankruptcy and the importance of professionals in the process.
2,270 words (approx. 9.1 pages), 8 sources, MLA, £ 50.95
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Abstract
Bankruptcy is not an easy process, and the average individual does not possess the knowledge to enter into proceedings on his or her own. The paper argues that professionals should always be consulted as they can determine which bankruptcy is appropriate or whether bankruptcy is necessary at all. The paper also looks at the bankruptcy court, which has been established to protect and assist individuals, companies, and corporations in their proceedings.
Paper Outline
A. Federal Bankruptcy Code
a. Explanation of the Origin
b. Federal Bankruptcy Law
c. Jurisdiction of Courts
B. Chapter 7 Liquidation Bankruptcy
a. Procedure
i. Filing a Petition
ii. Meeting of Creditors
iii. Appointment of Trustee
iv. Proof of Claims
b. Automatic Stay
c. Case Dismissal
d. Alternatives to Chapter 7 Bankruptcy
e. Discharge
C. Chapter 11 Reorganization Bankruptcy
a. Why choose Chapter 11
b. Plan of Reorganization
i. Who develops the Plan
ii. Steps in the Plan
c. Discharge
D. Chapter 13 Consumer Debt Adjustment
a. Chapter 13 Eligibility
b. Important Features
c. Filing
d. Automatic Stay
e. Plan of Payment
f. Confirmation of the Plan
g. Discharge
E. Chapter 13 or Chapter 7
F. Rights of Creditors
G. Conclusion
From the Paper
"If you are living with little income and property you may be ?judgment proof?. Basically creditors cannot collect because you have nothing for them to legally take. Taking advantage of federal and state debt collection laws that protect a debtor from abusive conduct may stop harassment from creditors. Possibly, a debtor may negotiate with creditors and buy enough time to get back on his or her feet. Creditors may also agree to settle debts for less than is owed. Debtors may seek help from outside sources such as Consumer Credit Counseling Service. Finally, a debtor may pay over time with a Chapter 13 proceeding, which will be discussed in a later section."
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Bankruptcy, 2007.
This paper looks at the Interstate Bakeries' choice of bankruptcy and analyzes different types of bankruptcy.
1,023 words (approx. 4.1 pages), 3 sources, MLA, £ 25.95
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Abstract
In this essay, the writer discusses the filing for Chapter 11 bankruptcy reorganization by Interstate Bakeries, the maker of well-known food products such as Twinkies and Wonder Bread. The writer explains that although Interstate had several options at its disposal to reduce debt and generate cash, ultimately Chapter 11 bankruptcy allowed Interstate to address its debt and cost problems without having to mortgage the company's future through overly deep cuts or sell-offs. The writer then looks at different types of bankruptcy and discusses the alternatives that were available to Interstate. The writer concludes that by filing Chapter 11 bankruptcy, Interstate was able to get a handle on its costs, alleviate its debt, and emerge as a stronger and more stable operation.
Outline:
Types of Bankruptcy
Alternatives to Chapter 11: Pros and Cons
Conclusion
From the Paper
"In a Chapter 11 bankruptcy process, the court and a company's debtors will approve a reorganization plan that, among other things, determines how much various creditors get paid. There are two classes of competitors: secured and unsecured. The secured creditors, such as banks, get paid first; the unsecured creditors, such as vendors, may get only pennies on the dollar. Chapter 11 sometimes allows companies to restructure contracts, such as union deals, which was a big problem for Interstate. At any rate, companies emerge from Chapter 11 with a much better debt and cash-flow picture."
"Municipal organizations, such as cities or school districts, have a form of bankruptcy similar to Chapter 11, which is called Chapter 9 bankruptcy. Chapter 9 bankruptcy allows a municipal entity to restructure its debt and reorganize its operations, similar to Chapter 11."
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Bankruptcy Fraud, 2002.
An analysis of the multitude of issues related to bankruptcy fraud.
1,167 words (approx. 4.7 pages), 4 sources, APA, £ 28.95
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Abstract
This paper discusses bankruptcy fraud and how the bankruptcy system, an arm of the United States District Court, is a critical component of the United States government because of the impact bankruptcy filings have on national and local economies. The first part highlights five of the main issues concerning bankruptcy fraud such as the conflict between the purposes of the bankruptcy system and the reality of the bankruptcy process and the issue of corporate responsibility and bankruptcy fraud. The second part of the paper reviews two cases involving bankruptcy fraud and it concludes with solutions for eliminating and/or reducing it.
From the Paper
"Fourth, there is the issue of corporations and individuals who prey on debtors who are contemplating filing bankruptcy. Bankruptcy foreclosure scams target individuals whose home mortgages are in trouble. Scam operators operate over the Internet and in local publications, distribute flyers, target specific ethnic or religious groups, or contact individuals whose homes are listed in the foreclosure notices. These scam operators may promise to take care of an individual?s problems with their mortgage lender or to obtain re-financing for the individual. Particularly bold scam operators ask individuals to hand over their property deed to the operator, and then make payments to the operator in order to stay in the home."
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U.S. Carrier Operating in Chapter 11 Bankruptcy, 2006.
This paper discusses whether the protection afforded to a U.S. carrier operating in Chapter 11 bankruptcy has a negative impact on the overall air transport industry.
4,775 words (approx. 19.1 pages), 12 sources, MLA, £ 87.95
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Abstract
This case study looks at the impact of Chapter 11 protections on the airlines requesting the protection and also at the financial impact on the overall airline industry. The writer discusses Chapter 11-bankruptcy protection that has been seen as a lifeline for companies on the verge of total financial collapse. The writer explains that the protection given by U.S. Constitution allows companies another chance to reorganize while being protected from meeting normal financial and operating obligations.
Outline:
Statement of Problem: Issues to be studied
Background
Bankruptcy
Types of Bankruptcy
Chapter 7 Bankruptcy
Chapter 11 Bankruptcy
Other Types of Bankruptcy
Pre Deregulation Days Practices
Deregulation of Airline Industry in USA
Impact of Deregulation
Analysis
Post 9/11 Crises and their Impact on Air Travel Industry
Chapter 11 Protection Role in Supporting Sick Airlines
Assessment of Chapter 11 Protection on Airlines Industry
Related Issues
Discussions & Conclusions
Bibliography
From the Paper
"The word bankruptcy comes from Latin 'bancus ruptus' which means broken bench. The roman custom allowed the creditors to smash the trading counter of the debtors to vent their anger. In 17th century England the debt defaulters were treated as criminals and thrown in the dungeons or given a death sentence. The punishment under the modern laws is not so hard and both debtors and creditors have rights under the bankruptcy proceedings.
In United States bankruptcy is a federal subject. States are not allowed to regulate the bankruptcy although they can make rules for debtor-creditor relationship. Bankruptcy law is contained in 'Title 11 of the United States Code'. It allows a debtor in financial problems to equitably divide his assets among the creditors. The 'straight bankruptcies' or liquidations distribute available assets among the creditors and release the debtors of any further obligations, even if the debts are not paid in full."
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The Implementation of New Bankruptcy Laws, 2005.
A critical examination of recent federal bankruptcy laws implemented in 2005.
2,805 words (approx. 11.2 pages), 14 sources, MLA, £ 59.95
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Abstract
This paper discusses how new federal bankruptcy laws are making it more difficult for consumers to file. It points out that these laws have affected not only US consumers, but the economy, government, and the legal field as well. The paper examines the new changes implemented in order to determine the effects the new laws have had and exactly why so many people are filing for bankruptcy protection. Although many consumers and civil right groups disagree with the decision, many law makers agreed that something had to be done to prevent the abuse of bankruptcy protection. The paper maintains that the new bankruptcy laws were designed to help prevent the abuse of bankruptcy and allow citizens who really need to file an opportunity to start fresh. It concludes that, by understanding the new laws implemented into the bankruptcy system, one can gain a greater appreciation for whom the laws are designed for and hopefully prevent their abuse.
From the Paper
"Now, however, the new laws are much harder on both Chapter 7 and Chapter 13 filers. Some changes made to the federal bankruptcy laws just make sense. The first change implemented was that "people would be required to receive some type of credit counseling within 180 days of them filing a petition for bankruptcy". While working at a law firm I was able to attend bankruptcy court and hear of people who were filing for the third and fourth time. I was astounded at how the judge just "wiped all the debt away". I think I could have been more sympathetic if it was their first time, but by the fourth time you have filed bankruptcy, it should be a clear indication that something is wrong. This new legislation allows people to get help and learn how to manage their finances. I feel that in our education system we do not focus on such things as budgeting and finances for our high school youth who are so naive about credit and the dangers of credit cards once they graduate. When I turned 18, I had credit offers piling up in my campus box. Although my parents had warned be about using the credit cards, the offers were too good to resists. The "easy payments of only $12 dollars a month" were so appealing I too became a "credit card binger". I feel that implementing some sort curriculum our school systems would better educate and prepare students graduating to endure the credit card hagglers and all the wonderful offers they shove in our campus boxes."
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Bankruptcy Fraud, 2007.
An analysis of the problems associated with bankruptcy fraud and recommendations of solutions.
4,102 words (approx. 16.4 pages), 10 sources, MLA, £ 78.95
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Abstract
This paper discusses the problems involved with bankruptcy fraud, at the filing level and at the court trustee level. It then offers two solutions to these problems. The paper also includes a brief overview of how different countries deal with the issues involving personal debt and bankruptcy. Finally, the paper concludes with an ethical and reasonable recommendation based on an evaluation of the relevant research.
Table of Contents:
Introduction
Overview of the Bankruptcy System and Attempts to Solve its Problems through Reforms
Federal Agencies
Solutions to Bankruptcy Fraud
Bankruptcy in Other Countries
Conclusion and Ethical Recommendations
From the Paper
"As an additional means of ensuring less fraud in the bankruptcy system, before hiring investigators and court trustees, these individuals should be subjected to thorough background checks before employment. In addition, the hiring personnel can verify that employers are validating information such as qualifications and work experience stated on resumes, as well as checking references. By hiring appropriately qualified employees, the criminal justice system and the bankruptcy courts will have taken one important step toward eliminating fraudulent and unethical financial filing practices. By implementing all of these recommendations, the future of the bankruptcy system and courts in the United States appears bright and will no doubt fall prey to another cycle of fraudulent bankruptcy filings."
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The 2005 Bankruptcy Law, 2005.
This paper analyze the provisions of the new bankruptcy law of 2005.
1,760 words (approx. 7.0 pages), 4 sources, MLA, £ 40.95
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Abstract
This paper explains that the Bankruptcy Abuse and Prevention and Consumer Protection Act of 2005 is considered to be the most extensive review of the Bankruptcy Code ever since its inception in 1978. The author points out that, although several provisions, such as general structure of liquidation under chapter 7 and provisions for reorganization under chapter 11 remain as they are, the 2005 Act is considered to have significant impact on the rights and interests of both creditors and debtors in consumer and business bankruptcy cases, which is reviewed in this paper chapter by chapter of the new code. The paper relates that the primary objective of this legislation, which was widely patronized by both banks and the credit card industry, is to discourage bankruptcy filings and to turn some debts not subject to a bankruptcy discharge.
From the Paper
"Such reformation in terms of major modifications in the corporate bankruptcy law is expected to lead to a rush to the courts by loosing companies to find out easier treatment. The new bankruptcy law embodying the new creditor protections in the law will make the bankruptcy reorganizations more stringent and also more costly for companies in search of shelter under Chapter 11. The formulators of the Law have made it stringent in reply to the concerns that management has been too fast to use bankruptcy like another financial device to affect creditors and shareholders. The recent impositions on personal bankruptcies attracted the attention but the legal experts opined that new rules could have extensive effects."
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Strategic Bankruptcy, 2002.
A review of Kevin J. Delaney?s book "Strategic Bankruptcy: How Corporations and Creditors Use Chapter 11 to their Advantage".
1,440 words (approx. 5.8 pages), 2 sources, MLA, £ 33.95
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Abstract
This paper analyzes the above book on the sociological ramifications of Chapter 11 bankruptcy and how bankruptcy has become a legitimate business tool that is often used by corporations. It discusses how the book reveals a great deal about the connections between law, economics and sociology and how since corporations have begun to use Chapter 11 filing as a legitimate business strategy, bankruptcy has become an increasingly common means to address social issues like victim compensation and labor issues. It shows how the legal system, in addressing an economic issue, ultimately plays an important role in the social fabric of American society.
From the Paper
"Delaney?s discussions also reveal a great deal about the connection between law, economics, and sociology. He notes that bankruptcy court is rapidly becoming a way for companies to address a wide variety of social concerns, rather than as a way to address economic problems. As such, it appears that our society is now endorsing, or at the very least allowing, financial and legal solutions for a variety of troubling social problems that commonly arise within the corporate sphere."
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Continental Bankruptcy, 2002.
An analysis of the Continental Airlines bankruptcy.
2,900 words (approx. 11.6 pages), 8 sources, MLA, £ 60.95
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Abstract
This paper is an in-depth analysis of the bankruptcy of Continental Airlines in 1990. It provides at least both long-term and short-terms analysis of the bankruptcy, relying for the former on an analysis of the state of the American airlines industry in 1990 and for the short term specific economic information relevant to Continental at the time. The author discusses what caused the bankruptcy and whether it could have been foreseen.
From the Paper
"The major overall economic element affected the entire American transportation industry in 1990 (this included not simply the airlines industry) was the issue of deregulation. For many years, the transportation system of the United States existed within an economic system of a high degree of regulation. That this should have been so should not surprise us if we look only at the legal and not the economic context of the transportation system.
The transportation network of the United States has been, since 1789, subject to a high degree of management by the federal government for the simple reason that this is one of the primary functions of the federal government ? to oversee those activities that cross state borders."
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Conseco's Bankruptcy, 2003.
A discussion on the causes and consequences of Conseco's bankruptcy.
1,380 words (approx. 5.5 pages), 6 sources, MLA, £ 33.95
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Abstract
This paper examines the causes and consequences of Conseco's bankruptcy and its filing for bankruptcy in December 2002. It explores the similarities between Conseco and Enron. The author discusses the deep problems of the company's unit of Conseco Financial. It also provides brief and general background of the situation.
From the Paper
"When Conseco Corporation filed for bankruptcy protection in December it followed in the notorious footsteps of WorldCom and Enron. Like Enron, Conseco was a holding company which had one problematic operating unit, Conseco Financial causing ..."
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The Bankruptcy of Eaton's, 2002.
An overview of the bankruptcy of Eaton's and discussion on who is liable for damages as a result.
2,525 words (approx. 10.1 pages), 12 sources, £ 66.95
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Abstract
This paper focuses on the recent bankruptcy of Eaton's. Eaton's was a retail store chain which was not only an important part of Canada's culture but also its history. This paper examines who should be liable for damages resulting from the bankruptcy of Eaton's.
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Bankruptcy Options, 2002.
This paper explains individual and corporate bankruptcy options.
1,650 words (approx. 6.6 pages), 6 sources, £ 44.95
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Abstract
There are four basic Chapters in the United States Bankruptcy Code that can be used to file bankruptcy. Chapter 7 offers protection to both individuals and corporations that are opting for liquidation. Chapter 13 offers reorganization plan for individuals and Chapter 11 offers the same for corporations.
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