Prepare a Notice and Tender by Debtor with this easy-to-use template. With this notice, a debtor notifies a secured party that it intends to redeem certain collateral tendered as security under a loan agreement or other debt instrument and is tendering payment, in accordance with the Uniform Commercial Code.
This paper contains broad policies and accounting standards for managing and collecting administrative accounts receivable. The Debt Collection Improvement Act of 1996 and the Federal Claims Collection Standards authorize USAID to collect debts owed to the Agency by means of administrative offset; to assess interest, penalties, and administrative costs on...
This article is a collection of small article. It consists articles that discusses about far reaching implications of the Third Circuit held that a creditors’ committee which cannot be authorized to commence an avoidance action on behalf of the debtor. It also consists an article which says that the Fifth...
Neil Munroe focuses on the current climate and what it means for the collections industry. The credit crunch will have a number of different effects on the debt collection industry. On the one hand it will mean that more debt may be sold earlier to reduce funding...
Beware! The operations of banks and other financial institutions are directly impacted by the collection efforts of judgment creditors - notably, garnishments of bank accounts and wages. A bank may find itself exposed to liability for failing to execute its legal obligations. A person obtaining a money judgment in...
The critical role of operations staff in daily collateral monitoring is addressed in the Collateral Control Workshop, scheduled for September 10-11 in Chicago. Through discussion of trend analysis, cash analysis, debtor concentrations, verifications, risk analysis, fraud awareness and many other topics, participants gain a keener understanding of both specific techniques...
Access to Debtor-in-Possession Financing and First Day Motions Recognized in Canada ROCHESTER HILLS, Mich. -- DURA Automotive Systems, Inc. (Nasdaq:DRRA), announced today that a Canadian court, the Ontario Superior Court of Justice, entered a "Foreign Recognition Order," which recognized under Canadian law the Chapter 11 bankruptcy proceedings commenced...
Radnor Holdings Corp., the bankrupt manufacturer of disposable cups and specialty chemicals, said it has secured $103 million in financing from Silver Point Finance LLC, a Delaware arm of Connecticut hedge fund Silver Point Capital LP. The Radnor company will use $64 million of the new debtor-in-possession funding to repay...
The critical role of operations staff in daily collateral monitoring is addressed in the Collateral Control Workshop, scheduled for October 5-6 in Los Angeles. Through discussion of trend analysis, cash analysis, debtor concentrations, verifications, risk analysis, fraud awareness and many other topics, participants gain a keener understanding of both specific...
Debtors deserve a higher profile. During 2004-05, the amount Hydro was owed rocketed from GBP113,000 to GBP1.62m. This included most of the proceeds from the GBP1.53m sale of White Lodge Hotel, north-west of Eastbourne. White Lodge, bought by Hydro in May 2000, had been perennially loss-making...
Admerex, the provider of credit and collections software CollectionWorks CWX, has recently announced the opening of its UK office in St James's Square, London. Kim Goodall, Admerex's Chairman and CEO, commented: "We are delighted to announce this latest development and are pleased to offer our industry leading software in...
Freezing orders are useful remedies to prevent debtors from transferring money out of reach of creditors, but they depend on the co-operation of banks and others. Peter Walker explains what happened when the system broke down. A freezing order, once called a Mareva injunction, is generally a...
Addressing Delinquent Public Reporting Obligations Although the number of publicly traded U.S. corporations that sought chapter 11 protection has declined from a record 257 in 2001 to fewer than 150 in 2004, there are a significant number of new filings each year. Many public companies seeking to...
DEARBORN, Mich. -- Meridian Automotive Systems, Inc. today announced that it has received approval from the U.S. Bankruptcy Court for the District of Delaware to extend interim access to $30 million of its debtor-in-possession DIP financing through June 30, 2005. As previously announced, interim access to the DIP financing was...
May 09, 2005 (The Australian Financial Review - ABIX via COMTEX) Smaller Australian businesses are chasing funding that rests on their potential, and not owners' or directors' personal net worth. GE Commercial Finance offers loans against accounts receivable, plant and equipment, or inventory....
Byline: Angie DeRosa U.S. Plastic Lumber Corp. could sell part or all of its assets as it reorganizes under Chapter 11 bankruptcy protection, according to consulting firm Triax Capital Advisors. The Boca Raton, Fla.-based profile extruder filed for Chapter 11 protection...
Byline: Angie DeRosa U.S. Plastic Lumber Corp. could sell part or all of its assets as it reorganizes under Chapter 11 bankruptcy protection, according to consulting firm Triax Capital Advisors. The Boca Raton, Fla.-based profile extruder...
Europe Steel first joined Ofex in March 2000, but the idea of trading steel via a website did not work. Now it's back again as a direct trader. Its sole supplier is a Russian steel mill in the southern Urals. The latest accounts show that GBP12.9m of...
The critical role of operations staff in daily collateral monitoring is addressed in the Collateral Control Workshop, scheduled for September 13-14 in Los Angeles. Through discussion of trend analysis, cash analysis, debtor concentrations, verifications, risk analysis, fraud awareness and many other topics, participants gain a keener understanding of both specific...
Byline: Patrick Blum in Brussels The European Private Equity and Venture Capital Association EVCA has warned that requirements under new international accounting standards IAS, set to come into force next year, could result in misleading financial statements and reduce transparency.The EVCA said ...
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