Assertion: bankruptcy's asset | /r/HasProperty | sold
Facets:
value: normally
type: DEGREE
Source sentences:
text: All other assets of value are sold.
text: The formal bankruptcy involves contracting a bankruptcy manager, who makes certain that assets are sold and money divided by the priority the law claims, and no other way.
text: Under Chapter 7, this occurs after your assets have been sold and creditors paid.
text: Under Chapter 7, this occurs after your assets have been sold and creditors paid.
text: Exempt assets are protected from creditors, and can’t be sold or liquidated in bankruptcy.
text: some assets haven’t been sold yet
text: But if it has assets that could be sold – a truck or store locations, for instance – that could be used to cover debts, it might attempt to sell the asset and shrink the business.
text: An easy way to think about it is if the asset is sold, would you end up with cash left over once you pay the remainder of what you owe?
text: Then, depending on the type of bankruptcy you are eligible for, some of your non-exempt property, or assets that can be sold, may be used as repayment towards your outstanding liabilities.
text: The most common objection made is that the creditors would receive more money if the debtor’s Chapter 12 case were converted to a Chapter 7 case, whereby the debtor’s assets would be sold and the proceeds distributed to the creditors.
text: Liquidation takes place as part of a Chapter 7 bankruptcy when assets are sold to pay creditors.
text: During the Diocese of Spokane's 89-month bankruptcy, a judge ruled the opposite: that churches, schools and other assets belonged to the diocese, and could be sold, if necessary, to pay victims.
text: Any assets you own, such as your house, will normally be sold to pay off your debts.
text: Secured debt has a special status because of the agreement between the creditor and the borrower that an asset of the borrower can be sold to pay the debt.
text: Only about 10% of Chapter 11 filings result in success; far more often, they end up in Chapter 7 straight bankruptcy, in which the company closes and its assets are sold to pay back secured creditors.