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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, $ 40.95
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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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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, $ 110.95
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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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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, $ 70.95
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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, $ 36.95
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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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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, $ 122.95
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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 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, $ 56.95
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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, $ 47.95
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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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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, $ 47.95
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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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Continental Bankruptcy, 2002.
An analysis of the Continental Airlines bankruptcy.
2,900 words (approx. 11.6 pages), 8 sources, MLA, $ 85.95
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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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Bankruptcy Reform Bill, 2005.
An analysis of the bankruptcy reform bill passed in 2005.
1,150 words (approx. 4.6 pages), 5 sources, MLA, $ 39.95
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Abstract
This paper analyses the effects of the bankruptcy reform bill. It discusses who is helped or hurt by it and the balance of lobbying interests involved. The author explores the effect of the moral connotations of bankruptcy on a bill designed to favor the interests of the banking and credit card industries.
From the Paper
"The essential feature of the Bankruptcy Reform Bill that passed Congress and was signed by President Bush is that it limits the bankruptcy options of households above the median income in each state Under the ..."
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Bankruptcy Options, 2002.
This paper explains individual and corporate bankruptcy options.
1,650 words (approx. 6.6 pages), 6 sources, $ 62.95
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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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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, $ 93.95
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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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Enron - Contribution, Collapse, Bankruptcy, 2002.
Examines the factors involved in the collapse of Enron, from its successful history of brokering to its unethical practices which ultimately led to its bankruptcy.
900 words (approx. 3.6 pages), 8 sources, $ 35.95
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Abstract
Enron is quickly becoming a 21st century equivalent of the 1950's game show scandals that inspired the film "Quiz Show". Both events involved a very large organization, an apparently active conspiracy to deceive the public and employees and touches a very broad section of our political and economic power structure. Enron had emerged from the smoke and mirrors associated with all scandals as a clearly unfathomable organization - Enron is an enigma. Before the bankruptcy, Enron enjoyed an enormously successful history of brokering energy to and from various points on the compass - from virtually blackmailing California during that state's energy crisis of the summer of 2000, to the general failure to meet energy contracts throughout the county. Enron's excesses, mismanagement, shady accounting, questionable ethics and its octopus-like hold on seemingly half of all the congressional politicians in Washington combine to lend credence to conspiracy theorists who assert that there are commercial forces at work behind governmental decisions that supercede concerns for the American citizenry. Like any scandalized person or organization, prior to exposure, everyone is ecstatic to be in bed together, but post-exposure, all the partners jump out of bed faster than roaches under a sun-lamp. Enron collapsed because it was a giant built upon a balsa wood foundation.
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Bankruptcy of the Kmart Corporation, 2002.
An analysis of the reasons behind the company's move to file for Chapter 11 bankruptcy protection.
955 words (approx. 3.8 pages), 6 sources, $ 33.95
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Abstract
This paper presents an analysis of the corporation's financial records in an effort to find out why the company chose to file for bankruptcy. It conducts a financial analysis comparison of Wal-Mart, Target and Kmart. Suggestions are made as to what Kmart can do to regain their status in the market.
From the Paper
"Kmart is a discount retailer with over 2,000 stores worldwide and at one time the chain was the leading discount retailer. Much of Kmart's troubles were made evident in November of last year when the company released its' SEC quarterly report. The company cited an operating loss of $76 million compared at only $28 million for the same period the prior year. Kmart's operating losses had jumped from .3% in 2000 to 1% in 2001. In addition to the increase in operating loss there was an increase in the company's selling, general and administrative expenses. This increase was $145 million for the 39-week period, which ended on October 31, 2001. (Kmart Corp (KM))"
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The Financial Accountant and Bankruptcy, 2002.
A look at the accountability of the financial accountant in terms of bankruptcy using Enron and Kmart as examples.
1,900 words (approx. 7.6 pages), 6 sources, $ 71.95
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Abstract
This paper investigates how the financial accountant can affect the outcome of the company, especially in respect to promoting bankruptcy. This paper also notes that those companies that are in the process of re- organizing - such as Enron and Kmart - report to their investors to make them aware of the changes in their accounting and their management practices.
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