149 Sentences With "become insolvent" | Random Sentence Generator

But if they had, a lot of insurers would have become insolvent.

Many Americans worry that Social Security will become insolvent before they retire.

The covenants have also been applied to companies that have already become insolvent.

Most American and European companies have closed factories, and many have become insolvent.

Central banks would soon become involved: without a speedy intervention, banks could become insolvent.

Even worse, in New York, the Road Carriers Local 707 Pension Fund has become insolvent.

On top of that, there is already a program designed for pension plans that become insolvent.

It would have totaled $97 million had two of American's and United's insurers not become insolvent.

The most recent Medicare trustees' report predicts that program will become insolvent in just 12 years.

The report says Social Security will become insolvent in 2034 -- no change from the projection last year.

According to a report by the Congressional Research Service, Medicare is projected to become insolvent by 2026.

The report from program trustees says Medicare will become insolvent in 2026 -- three years earlier than previously forecast.

Everything succeeds until it doesn't, and Medicare's own trustees now project the program to become insolvent by 2028.

The measure would help ensure that the 1974 United Mine Workers of America Pension Plan won't become insolvent.

When the minimum wage is raised, they have to increase their workers' pay, but they don't suddenly become insolvent.

If the debt swap deal breaks down, the company would likely become insolvent, the firm said in a statement.

There are already twenty other multiemployer pension plans that are slated to become insolvent before the UMWA pension plan does.

Republicans counter that Medicare will eventually become insolvent and changes are needed to make it more efficient and save money.

Even at the start of 2016, the plan was just 24% funded, and was expected to become insolvent within 215 years.

The easier it is for companies to become insolvent, the more quickly capital can be reallocated from inefficient to efficient uses.

Bury was one of ten sides to become insolvent in 2002, when a TV deal for lower-league clubs fell apart.

Zandi is among experts who have said that without changes to the current system, Social Security will become insolvent by 2035.

But levying multibillion-dollar fines erodes that cushion, making banks more likely to become insolvent if they hit an economic rough patch.

In its 2014 annual report, the PBGC said that the fund was "highly unlikely" to become insolvent over the next 10 years.

Absent legislative reforms before then, Social Security will become "insolvent" and benefit payments will be automatically cut by an estimated 23 percent.

But Ryan and other Republicans argue Medicare and Social Security need to be reformed before both programs become insolvent and ultimately bankrupt.

Also on Thursday, the Russian central bank revoked the banking licenses of three lenders — Vneshprombank, Miraf-Bank and Turbobank — that had become insolvent.

Officials warned that the two programs, which made up roughly 85033 percent of federal spending in 2015, would become insolvent within 20 years.

China had 800 solar panel companies a decade ago and now has just 70 or 80, after allowing the rest to become insolvent.

"Two weeks ago, Inch said he could potentially see the stock shrinking to $5, assuming that GE Capital doesn't ultimately become insolvent," Cramer said.

But now, the PBGC is also projected to become insolvent in five years, making their "guaranty" not much better than a band-aid solution.

Pipeline companies are being weighed down by worries that revenue might dry up as oil and gas producers cut investment and weaker suppliers become insolvent.

George W. Bush, in his effort to overhaul Social Security in 85033, predicted it would become insolvent in 2041 (for which he was widely derided).

EasyGroup, which owns the Fastjet brand, said in a letter on Thursday there was a risk that Fastjet could become insolvent in the next few months.

Moody's fears that if rates stay low for another four years, loss-making insurers will eat into their capital buffers, and some could—eventually—become insolvent.

Millions of retirees and workers are at risk of losing their multiemployer pension benefits because their plans are forecasted to become insolvent in the near future.

Entitlement spending grabbed headlines last week, with the news that Medicare's Hospital Insurance Trust Fund will become insolvent by 2026, three years earlier than previously projected.

The China Academy of Social Sciences (CASS), a government think-tank, said in a report in April that the country's pension funds could become insolvent by 2035.

The nonpartisan Congressional Budget Office (CBO) projects the Social Security and Medicare trust funds will become insolvent in 28500 and 6900, respectively, forcing them to cut benefits.

But the administration said Tuesday that it would restore the program because otherwise health plans could become insolvent or withdraw from the market, causing chaos for consumers.

The government has also spent 155 billion hryvnias ($6.4 billion) propping up PrivatBank, saying the lender had become insolvent due to shady lending practices under Kolomoisky's ownership.

And because of the expense to care for the animals, the BLM can only gather between 22015,215 and 4,500 animals a year or "we'd become insolvent," Lutterman said.

CBO's August 2016 report on the PBGC's multiemployer program pointed out that the plans likely to become insolvent have assets of $85033 billion and liabilities of $100 billion.

The Social Security trust funds are estimated to become insolvent in 22019, and AAF is concerned that the paid leave proposal would worsen the outlook for Social Security.

In addition, even if the Trust Fund were to become insolvent, by spending more than it takes in, Medicare would still be able to pay out 85033 percent of benefits.

But even if all the troubled multiemployer pension plans were to become insolvent, their underfunding would be less than half that amount, according to their 22019 annual filings with regulators.

But the NASI experts note that historical trustee projections regarding how soon the trust fund will become insolvent have varied widely - as little as two years, and as much as 28.

MF said REV, the "bad bank" that took on the four lenders' bad loans, may acquire also the bulk of loans that have become insolvent in the course of this year.

Current inflation expectations were very low, while even if the SNB suffered massive losses from its stock and bond investments it could not become insolvent because of its ability to create money.

BRASILIA (Reuters) - Brazilian President Michel Temer warned on Friday that without the unpopular austerity measures he is pushing through to cut public spending and balance the budget, the government will become insolvent.

They said in a letter to Congress members in February that annual payments exceed contributions by more than $2 billion, and that the fund is expected to become insolvent in about 10 years.

Visco said better quality data could help banks more actively manage doubtful loans before borrowers become insolvent so that they could either help them get back on their feet or, where necessary, raise provisions.

The United States is already on track to dole out more money to pay off our debt than for defense, while Social Security and other entitlements are set to become insolvent within a decade.

Nyhan said that Central States is projected to become insolvent in 10 years or less and called on lawmakers who opposed its application to pass legislation to protect the benefits of its plan participants.

This is not the first wake-up call to emanate from a Medicare Trustee's Report — in 2900, they predicted the trust fund could have become insolvent by 220006 — and it won't be the last.

Even once the new system is in place, a bank could still become insolvent or suffer a liquidity squeeze, with potentially disastrous results for those that had backed it and the economy as a whole.

The two programs make up the bulk of federal spending, and trust funds that support benefit payments are projected to become insolvent within the next 10 to 15 years, according to the Congressional Budget Office.

According to the Medicare Trustees, the Hospital Insurance Trust Fund will become insolvent in 2029, and substantial future tax increases will be required if the Supplementary Medical Insurance Trust Fund is to meet its obligations.

Republicans also said it would be impossible to balance the budget without reforming Social Security and Medicare, the most expensive parts of the budget fueled by trust funds projected to become insolvent in less than 20 years.

"Whatever [Evergrande's] motivations might be, the reality is that it has engineered a situation where, unless [Faraday Future] obtains an injection of substantial sums in the immediate future, it will become insolvent," lawyers for Faraday Future write in the petition.

The China Academy of Social Sciences (CASS), a government think tank, said in a report this month that the country's pension funds could become insolvent by 2035, with a rapidly dwindling workforce unable to support the growing number of elderly people.

If side accounts are used as investment vehicles, insurers could potentially be exposed to unlimited liability and become insolvent, according to an affidavit filed with the court by a partner with management consultants Oliver Wyman, hired by Manulife to provide evidence.

Banks may be better off today than they were leading up to the Great Recession but the government and Fed's balance sheets have become insolvent in the wake of their inane effort to borrow and print the economy back to health.

" The study further concluded that had unauthorized immigrants "not contributed to nor drawn HITF funds from 2000 to 2011, the HITF would become insolvent in 2029–1 year earlier than is currently predicted by Medicare's Trustees based on their intermediate cost assumptions.

Majorities on both sides of the aisle prefer to ignore the inconvenient truth that the federal government spends too much and, to date, has no real plan for reining things in before major programs become insolvent and the economy faces strain or even crisis.

LONDON, Jan 29 (Reuters) - Insurers in Europe may need to put aside money to protect their policyholders should they become insolvent, and regulators should be able to be shut them down swiftly without the need for taxpayer bailouts, a top EU official said on Wednesday.

The gravity of the case is underscored by an affidavit filed by a partner with management consultants, Oliver Wyman, which states that if the side accounts can be used as investment vehicles it would potential expose insurers to unlimited liability and ultimately cause them to become insolvent.

With the Dallas police and fire pension system projected to become insolvent within 10 years, legislation would cut the nearly $3.7 billion unfunded liability to $2.18 billion and boost the funded ratio to nearly 50 percent from the current 36.8 percent, according to a bill analysis.

The Pension Benefit Guaranty Corporation, the government agency that backs the pensions of 40 million workers and retirees and takes over funds when they fail, estimated that multiemployer plans covering as many as 15 percent of those participants may become insolvent over the next 20 years.

"Now that the fund is set to become insolvent, you've really seen a considerable shift in public opinion, but also political will in the Legislature in terms of coming up with some kind of compromise solution," Brigid Callahan Harrison, a professor of political science and law at Montclair State University, said.

Interest payments are subject to management discretion as well as; Westpac not breaching its regulatory capital requirements under the prudential standards at the time of the interest payment at Level 1 or 2; Westpac not becoming, or being likely to become, insolvent as defined in the Corporations Act 2001; and APRA not objecting to the payment.

But the growing population of elderly Americans and the steep rise in the price of health-care services have spurred concern that Medicare could become insolvent; policymakers such as Paul Ryan, the former House Speaker, have argued that elderly citizens should receive vouchers to purchase health insurance on the open market, and there has been a push among certain lawmakers to privatize parts of the program.

Picsel Management Team Khand formed two further companies to continue the Picsel business (Picsel UK Ltd in 2010 and Smartoffice Technologies Ltd in 2012) both of which subsequently become insolvent.

Unlike Fairchild, in which the House of Lords held that all the employers were jointly and severally liable for the damage, in this case some of the employers have become insolvent.

Sections 1 to 6 and Schedules 1 to 8 amended the Insolvency Act 1986 to provide for a moratorium for companies that are likely to become insolvent. The moratorium would allow insolvent companies or companies that are likely to become insolvent to obtain a 20 business day period in which they could seek to restructure or seek investment without creditor actions. This period may be extended by a further 20 days. The company's affairs must be monitored by a qualified insolvency practitioner during the moratorium period.

Dunn, v. 1, pp. 436–39.Madison, Hoosiers, p. 133–34. In addition, a financial crisis in the 1840s in Indiana due to overspending, a result of the Indiana Mammoth Internal Improvement Act, caused the state government to become insolvent.

Debertin was listed as the sole debtor and representative of PentaTV. In December 2015, Debertin announced in a public letter that he had "become insolvent due to third-party manipulation" and regretted that nothing had changed "despite phoning German courts".

There, by 1926, he had accumulated sufficient capital to buy a private bank. Levin’s bank become insolvent in 1929. After moving to Paris, he left for Brazil, called himself João Frederico Normano (i.e. John Frederic Normano) and claimed to be 40 years old.

The American banking system had been significantly weakened by the severe recession and the effects of deregulation. Had other banks been forced to write off loans to Continental Illinois, institutions like Manufacturer's Hanover Trust Company, Bank of America, and perhaps Citicorp would have become insolvent.

Because they were hurried, and many illustrations had to be done by lesser artists, the final products of Boydell's venture were judged to be disappointing. The project caused the Boydell firm to become insolvent, and they were forced to sell the gallery at a lottery.

Everard served in the Victorian Legislative Assembly as Member for the electoral districts of Rodney from January 1858 to December 1859; North Gippsland in August 1861 (elected, but not sworn in as he had become insolvent) and again from April 1864 to August 1864; and Collingwood March 1868 to October 1869 and again May 1874 to July 1874 (resigned because he had become insolvent again). Everard was a tea merchant and also a stock and share broker. He was Chairman of the National Eight Hours League and also Chairman of the Victorian Industries Protection League. Everard died on 29 August 1886 at South Yarra.

This contract was then extended but expired at the end of 2009, at which point the artists again became squatters. By this time, the Fundus Group had become insolvent, so the Hamburg-based HSH Nordbank, to which the Fundus Group owed money, decided to sell the property.

This type of concern was limited by the German Federal Supreme Court in 2002 to only apply where the control is such that the subsidiary will inevitably collapse or become insolvent, on the basis that the parent has abused the separate legal personality of the subsidiary.

Geissmar had known him since 1927 through her work with the BPO - he had also conducted the BPO, and had personally guaranteed one of their English tours after their English agent had become insolvent. He readily invited her to work for him in London during the Covent Garden Spring season.

To avoid the inconvenience and dangers of the Tides and the port traffic, Commercial moved upstream from Ringsend to the peaceful waters of Islandbridge in 1942"The Empire News, First with News". (April 16, 1944). The Irish Times, pp. 16. to take over the premises of Dublin Rowing Club, which had become insolvent.

In 1929 Smith’s Stamping Works of Coventry had purchased the Clayton Forge which was adjacent to the Abbey Works of Clayton & Shuttleworth on Spa Road in Lincoln. The previously very successful engineering firm of Clayton & Shuttleworth had become insolvent. A new company, Smith-Clayton Forge Ltd., was incorporated on 18 December 1929.

In contrast councils in wealthier areas had made smaller reductions. Councils in England experienced an average spending reduction of 24% compared to 12% in Scotland and 11.5% in Wales, the difference resulting from devolved government in those nations. In 2018 Northamptonshire County Council become insolvent and proposed reducing services to the minimum required by law.

He wrote a draft bill, but the government chose not to act on it. The Great Depression saw almost all of the towns and villages of the county become insolvent. When that happened, they were, financially, taken over by the province. In 1933, Henry, now the premier, appointed a formal inquiry into forming a metropolitan district.

In 1986, Mellon bought Commonwealth National Financial of Harrisburg, Pennsylvania. It is also reported that Mellon operated the 2nd largest financial computing system in the world. In 1991, Mellon bought United Penn Bank of Wilkes-Barre, Pennsylvania. The next year, Mellon bought 54 branch offices of Philadelphia- based Philadelphia Savings Fund Society, whose parent company had become insolvent.

In January 1817, he married Magdalena Bogart (1796-1883). He was New York State Treasurer from February 1817 to January 1821. In August 1823, the U.S. Postmaster General sued Gerrit L. Dox for his failure to render accounts and to pay over some monies received. In the suit, it was stated that Dox had become insolvent in 1819.

At the end of the year, a total of 140 banks had become insolvent. Although most of the failures were resolved through merger or acquisition, the FDIC's insurance fund was exhausted by late 2009. To continue meeting its obligations, it demanded three years of advance premiums from its members and operated the fund with a negative net balance.

Vladimir Romanov, a Russian born Lithuanian businessman, initially acquired 19.6% stake at Hearts during the 2004-05 season. After Romanov made financial guarantees, his stake increased to 29.9%, which was welcomed by a fans representatives. Romanov eventually increased his majority share in Hearts to 82%. Romanov no longer has any links to HMFC as both Ukio Bankas and UBIG have become insolvent.

In 1857 Rolt took over C.J. Mare and Company, an engineering and shipbuilding company owned by his son in law, Charles John Mare, who had become insolvent. He formed the Thames Ironworks and Shipbuilding and Engineering Company Ltd of which he became chairman. He resigned from parliament by accepting the office of Steward of the Manor of Hempholme. Rolt devoted himself to his shipping and shipbuilding interests.

The restriction in manufacturing caused the owner to become insolvent. The glassworks first had to be overtaken by a bank, and later it was bought, below cost prize, by bank manager John Sjödahl in Vaasa. The Finnish window glass association purchased the glassworks in 1903. The association carried on the production, with Axel Grönberg as technical supervisor, until 1907, when the glassworks reached bankruptcy.

Family trusts are often used to distribute income to beneficiaries in an attempt to achieve the lowest tax outcomes available to the members of the trust. Discretionary trusts also protect assets when individual members become insolvent or bankrupt. Asset protection is also extended to other types of liabilities. The power of appointment of the trustee of a discretionary trust is held by the Appointor.

In order to finance the lavish executive salaries while still paying the annuities and insurance agent commissions, GSLIC management invested in high-yield, high-risk junk bonds. In 1991, the junk bond market collapsed, causing the company to become insolvent. In testimony before the Senate, GSLIC's Deputy Receiver estimated the fair value of the company's assets at $230 million. Obligations to its policyholders and annuitants totaled $620 million.

This failure combined with a fall in the value of his Australian shares to leave him bankrupt by 1898, although the Official Receiver concluded that the without the speculation in Paris, Fleming would probably not have become insolvent. In November 1898, Fleming's application for discharge from bankruptcy was opposed by the Official Receiver on the grounds that the debtor had contributed to his bankruptcy by rash and hazardous speculations.

During the financial and economic crisis of 2008–2009, it gained public popularity as a measure of the viability of large commercial banks. TCE, when used in a ratio with tangible common assets, is a measure of a bank's ability to absorb losses (e.g., homeowners defaulting on mortgages) before becoming insolvent. It is one of the factors considered by the Office of the Comptroller of the Currency to determine if a bank has become insolvent.

As of February 2016, the trustees of more than 60 multiemployer pension plans covering a total of more than 900,000 participants had notified the Labor Department that the plans were in "critical and declining status". The largest was the Central States, Southeast and Southwest Areas Pension Fund of the International Brotherhood of Teamsters (the "Central States Pension Fund"), which had more than 400,000 participants and was projected to become insolvent in 2025.

Cobb served as the U.S. Attorney for the Eastern District of Arkansas in the Dwight D. Eisenhower administration. As the trustee of the Little Rock Stave Company, which declared bankruptcy in April 1912, Townsend filed suit over payment of 10 percent dividends to stockholders. The payments were made after the firm had already become insolvent. Townsend was active in many organizations, such as the Little Rock Boys Club and the Chamber of Commerce.

If the company is potentially salvageable with a realistic prospect of surviving its financial difficulties, a company may seek to enter into a non-liquidation arrangement. The two principal types are voluntary administration and deeds of company arrangement. These forms of administration are considered when the debtor company is insolvent or likely to become insolvent. Unlike receivership (which is usually initiated by a secured creditor) these two forms of administration are normally initiated by the company itself.

London's new central business district, Canary Wharf was formerly a major centre of the world's shipping trade at West India Quay. While corporate governance primarily concerns the general relative rights and duties of shareholders, employees and directors in terms of administration and accountability, corporate finance concerns how the monetary or capital stake of shareholders and creditors are mediated, given the risk that the business may fail and become insolvent. Companies can fund their operations either through debt (i.e. loans) or equity (i.e. shares).

The CMA may also make an exception to their duty to refer in the case of anticipated mergers, this is when the arrangements concerned are insufficiently far advanced, or insufficiently likely to proceed. Another exception which the CMA may consider, might be the merger or acquisition of a firm which is inevitably going to fail or become insolvent, and taking it over would not have a significant impact on competition as that was bound to happen regardless of whether the merger took place.

In 2013, Privinvest purchased the Lindenau shipyard in Kiel, which had become insolvent. Lindenau was founded in 1919 as “Schiffswerft Memel - Lindenau & Cie.” in East Prussia and was rebuilt in Kiel-Friedrichsort after World War II.The Lindenau Shipyard Webpage city of Kiel Within the GNYH group, Lindenau today focusses on repair and maintenance.Germany: Lindenau Shipyard Gets New Owner World Maritime News, December 23, 2012. In 2014, Privinvest grouped its German shipyards under the umbrella of the German Naval Yards Holdings.

The financial stability and strength of an insurance company should be a major consideration when buying an insurance contract. An insurance premium paid currently provides coverage for losses that might arise many years in the future. For that reason, the viability of the insurance carrier is very important. In recent years, a number of insurance companies have become insolvent, leaving their policyholders with no coverage (or coverage only from a government- backed insurance pool or other arrangement with less attractive payouts for losses).

Tamraz's first notable business enterprise was in 1967, when as an executive of the Wall Street investment bank Kidder, Peabody & Co., he successfully refloated a large Lebanese bank called Intra Bank, which had become insolvent in 1966. The bank had been founded in Beirut in 1951 by Yousef Beidas and three partners as a currency trading house named International Traders. The bank stopped payments on October 14, 1966. The collapse of the bank brought the Lebanese economy to a halt and sent shockwaves throughout the Middle East.

Her brother-in-law was not so efficient in his farming operations and this, coupled with his extravagant life style, forced him into bankruptcy. His land was not lost to his family, however, because his sister-in law purchased his property. To do this and to support her large household, the widow Ellert took a bond on the property from a Cape Town businessman and member of parliament named James Mortimer Maynard. In 1836, Maynard took over Rosendal from the widow Ellert, who had become insolvent.

From 2008 to 2010, Congress authorized the transfer of $35 billion from the General Fund of the U.S. Treasury to keep the trust fund solvent. The Congressional Budget Office (CBO) projected in 2012 that the fund's Highway Account and Mass Transit Account would become insolvent by 2014. CBO said that although vehicles would travel more miles in the future (therefore consuming more taxable fuel), congressional refusal to increase the fuel tax means that the fund receives less money. CBO's insolvency projection assumed that Congress will not increase transportation spending beyond inflation-adjusted 2012 levels.

New South Wales Gaming Minister Grant McBride was concerned about the rescue deal by Queensland Clubs Management who ordered a review of commercial arrangements of the deal. 1 August 2003, Leagues Club president dismissed the Prime News report that the club's board members voted for the club to be placed under voluntary administration and also denied that Queensland Clubs Management walked away from the deal, however the club was placed under an administrator (Deloitte Touche Tohmatsu) after the "belief the club is insolvent, or likely to become insolvent".

2011–12 season of the Oberliga Baden-Württemberg kicker.de, accessed: 15 September 2012 The FV Illertissen opted to leave the Württemberg FA at the end of the season and join the Bavarian FA instead, competing in the Regionalliga Bayern in 2012–13.Grenzgänger plant schnelle Akklimatisierung fupa.net, published: 28 June 2012, accessed: 29 June 2012 For league champions SSV Ulm 1846 it was the seventh title in the Oberliga Baden-Württemberg and it came only a year after the club had become insolvent in the Regionalliga Süd and had been relegated.

Membership in the CEA by insurers is voluntary and member companies satisfy the mandatory offer law by selling the CEA mini policy. Premiums are paid to the insurer, and then pooled in the CEA to cover claims from homeowners with a CEA policy from member insurers. The state of California specifically states that it does not back up CEA earthquake insurance, in the event that claims from a major earthquake were to drain all CEA funds, nor will it cover claims from non-CEA insurers if they were to become insolvent due to earthquake losses.

The breach of duty alleged was confined to advice about the protection afforded by the Policyholders Protection Act 1975 to "with-profits" annuities, and this duty was found to be breached by the first instance judge. The claimant would not have chosen the Equitable Life with- profits annuity if he had been given correct advice, but that did not entitle him to recover the loss he had sustained as a result of his acquiring the annuity. The 1975 Act would have applied if Equitable Life had become insolvent. That was not the case.

Between 1880 and 1885, as the railway was slowly built, the CPR repeatedly came close to financial ruin. Not only was the terrain in the Rocky Mountains difficult, the route north of Lake Superior proved treacherous, as tracks and engines sank into the muskeg. When Canadian guarantees of the CPR's bonds failed to make them salable in a declining economy, Macdonald obtained a loan to the corporation from the Treasury—the bill authorizing it passed the Senate just before the firm would have become insolvent. Protestants demanded Riel be executed; Catholics wanted him to live.

Negotiations dragged on for some time; the Board earnestly hoped that Brassey could be persuaded to build the line, but without the guarantees Brassey feared that the Company as his client would become insolvent, and he declined. Early in 1862 tenders were considered by the Board; none of them were acceptable or affordable. On 20 March 1862 the engineer John Fowler was appointed as Engineer to the Company. He was asked to review the design and specification for the line's construction, and on 4 November 1862 a quotation from Henry Bond was put to the Board with Fowler's support.

In 1984, Mark Sanford ran into trouble when his efforts to raise capital clashed with Florida insurance regulations. To protect policyholders, the statutes required insurers to maintain a reserve totaling 20% of the total amount invested in high-risk investments. The reserve is recorded as a liability, and would have caused GSLIC to become insolvent. To circumvent the regulations, Sanford made an oral arrangement with Merrill Lynch to sell the junk bonds on December 31, 1984 in exchange for a $155 million "account receivable due from brokers" and repurchase the bonds on January 2, 1985 for the same amount, plus a fee.

Fundación Bataller On 16 May 1999, Acosta was elected once again as vice-governor of San Juan accompanying the Renewal Crusade party's Alfredo Avelín who won with 55%, heading the list of the Alliance for Work, Justice and Education which would win the Presidency of Argentina later the same year. Avelín's period in office was marked by economic turbulence and public unrest in San Juan, like the country as a whole. By 2001, provincial employees were not paid and the province had become insolvent. In 2002, Avelín was impeached and deposed as governor by a majority of provincial deputies following massive demonstrations.

Although modeled loosely on the Federal Deposit Insurance Corporation (FDIC) which protects bank customers, unlike the FDIC where accounts are protected against loss of value, SIPC does not protect against market fluctuations or changes in market value. It does not protect against losses in the securities markets, identity theft, or other third-party fraud. Unlike the FDIC, SIPC also does not provide protection where there are claims against solvent brokers or dealers. It provides a form of protection for investors against losses that arise when broker-dealers, with whom they are doing business, become insolvent.1970 U.S.C.C.A.N. 5254, 5255 H.R. REP.

Meanwhile, the debtor receives a positive cash balance (which is used to purchase something like a house), but also an equivalent negative liability to be repaid to the bank over the duration. Most of the credit created goes into the purchase of land and property, creating inflation in those markets, which is a major driver of the economic cycle. When a bank creates credit, it effectively owes the money to itself. If a bank issues too much bad credit (those debtors who are unable to pay it back), the bank will become insolvent; having more liabilities than assets.

If the electorate was increased, it was done so by the wholesale admission to borough freedom (burgess status) to voters willing to vote as directed by the corporation at parliamentary elections. The corporation of Louth before the 1830s reforms for example was the governing body of its grammar school which was the major endowed landowner in the town. Growth of boroughs' corruption continued unchecked (but sometimes a little side-stepped see below) until the era of the Reform Bill. Several boroughs had by that time become insolvent, and some had recourse to their member of parliament to eke out their revenues.

To give a clear example, where one partner acts negligently and there is no indemnity insurance (or the indemnity insurer refuses to cover the loss), the liability of all partners will be joint and several: s.16. The cause of major distress for partners arises where the other partners become insolvent. The weight of total liability would rest on the solvent partners. Thus put simply, even if a person only had a 25% partner's share, he or she would be responsible for covering all 100% (potentially exorbitantly exceeding their investment) of the damage arising from the negligence if the other partners do not have the means to pay.

Belt became the executive direction of PBGC in April 2004. The PBGC was set up by the Employee Retirement Income Security Act (ERISA) of 1974, to guarantee defined benefit pension plan benefits for plan sponsors that become insolvent when there are too few pension plan assets to fully pay all insured pension benefits. As the chief executive officer of PBGC, Belt oversaw the U.S. government corporation that insures the pension benefits of private sector workers and retirees. He also played a leading role in the historic overhaul of U.S. pension rules, giving millions of Americans a better chance of getting the retirement benefits they earned.

" After months of extensive research, Brandeis published a 70-page booklet in which he argued that New Haven's acquisitions were putting its financial condition in jeopardy, and he predicted that within a few years, it would be forced to cut its dividends or to become insolvent. He spoke publicly to Boston's citizens warning them that the New Haven "sought to monopolize the transportation of New England." He soon found himself under attack by not only the New Haven but also by many newspapers, magazines, chambers of commerce, Boston bankers, and college professors. "I have made," he wrote to his brother, "more enemies than in all my previous fights together.

With $8 billion in assets, HIH was considered one of Australia's largest insurance firms. However, after offsetting its assets with debts and potential insurance claims against the company, HIH was left, on paper, with net assets of only $133 million. McGrath & Riddell described HIH's solvency as "marginal" and stated in their report that "an extremely small movement (just 1.7%) in the value of assets could move the balance sheet into net asset deficiency." That is, even the slightest setback would cause the company to become insolvent. On 15 March 2001, the board of HIH appointed a provisional liquidator to take control of HIH and 17 of its controlled entities.

The creditor has certain rights to set aside fraudulent conveyances and voluntary conveyances by the debtor. A fraudulent conveyance occurs where the debtor transfers property that could otherwise be reached by the creditor in order to avoid the creditor's levy. The debtor voluntarily conveys property where he sells it for less than fair market value after becoming insolvent, or where the sale of that property itself causes the debtor to become insolvent. A creditor who is able to prove that a fraudulent or voluntary conveyance has occurred may be able to avoid or upset the conveyance, which will restore the property to the debtor's possession, from which the creditor may levy on it.

The victory of the French-bred Ajanta at the first classic race in the new Czech Republic demonstrated that the purchases of quality horses from Western European auctions would play a significant role in racing at Velká Chuchle in the next years. By 1995, the organizer of racing at Velká Chucle had become insolvent, and the management of Czech flat racing took the decision to transfer racing from Velká Chuchle to racecourses elsewhere in the Czech Republic. The Czech Derby was hosted at Karlovy Vary, and its winner, Regulus, the last Czech-bred horse to win the Derby, won by a record 15 lengths. In Autumn of 1995, racing returned to Velká Chuchle.

Pyramid of economic relations for most of human history, as described in The Five Stages of Collapse. In his book The Five Stages of Collapse (2013), Dmitry Orlov describes these five possible stages: # Financial collapse: financial institutions become insolvent and banks close (example given: Iceland); # Economic collapse: shortages of essential goods and decomplexification of the economy (example given: Russian mafia); # Political collapse: corruption replaces government services (example given: Pashtuns); # Social collapse: loss of local social institutions and civil war (example given: Romani people); # Cultural collapse: loss of empathy and humanity (example given: Ik people); # Ecological collapse (proposed after publication of the bookDmitry Orlov, "The Sixth Stage of Collapse", cluborlov.blogspot.com, 22 October 2013 (page visited on 21 March 2020).).

By May 2009, LCR had become insolvent, and the government received an agreement to use state aid to purchase the line and to open it up to competition to allow other services to use it apart from Eurostar. LCR's wholly owned subsidiary, HS1 Ltd, thus became the property of the Secretary of State for Transport. On 12 October 2009 a proposal was announced to sell £16 billion of state assets including HS1 Ltd in the following two years to cut UK public debt. The government announced on 5 November 2010 that a concession to operate the line for thirty years had been sold for £2.1 billion to a consortium of Canadian investors.

In 1991, Banamex was reprivatized and it established Grupo Financiero Banamex–Accival with the investment bank Acciones y Valores de México (Accival). It had 720 branch offices, 31,797 employees, assets of $26.2 billion and a customer base of four million people making it the largest financial group in Latin America at the time. As a result of the private credit aggressive expansion in Mexico, resulted in a strain of the bank's balance sheet (loan portfolio quality ratios and capitalization ratios). The December 1994 macro-devaluation of the Mexican pesos and the ensuing significant increase in domestic interest rates coupled with a dramatic economic recession, caused Banamex's and much of the rest of the privatized banks to essentially become insolvent.

American Union Bank, New York City. April 26, 1932. A bank run (also known as a run on the bank) occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future. In other words, it is when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), numerous customers withdraw cash from deposit accounts with a financial institution at the same time because they believe that the financial institution is, or might become, insolvent; they keep the cash or transfer it into other assets, such as government bonds, precious metals or gemstones.

He no longer needed to live in the George Street property as he had moved his residence to the corner of Liverpool and Elizabeth Streets, Sydney as he had purchased an "excellent mansion" overlooking and situated at the south end of Hyde Park. Finally he also received another land grant of called Yerrigong on the Calymea Creek about six miles (10 km) west of Terara granted by Governor George Gipps on 17 February 1841. On 31 May 1837 he also sold 50 shares in the Australian Marine Assurance Company, the Hoffan's Cordials business, and a lithographic press. Then, due to the depression of the early 1840s, and failing health, Prosper become insolvent in 1844.

Repo transactions occur in three forms: specified delivery, tri-party, and held in custody (wherein the "selling" party holds the security during the term of the repo). The third form (hold-in-custody) is quite rare, particularly in developing markets, primarily due to the risk that the seller will become insolvent prior to maturation of the repo and the buyer will be unable to recover the securities that were posted as collateral to secure the transaction. The first form—specified delivery—requires the delivery of a prespecified bond at the onset, and at maturity of the contractual period. Tri-party is essentially a basket form of transaction and allows for a wider range of instruments in the basket or pool.

By 1880, the SIRW was barely operational, and as a result New York State sued through Attorney General Hamilton Ward to have the company dissolved in May that year. The suit said the Company had become "insolvent in September 1872, to have then surrendered its rights to others, and have failed to exercise those rights". The legal proceedings commenced after an injunction was obtained that restrained the creditors of the railway company from proceeding against it until after the suit of the people was determined. Although it was floundering, the railway become the centerpiece of a plan to develop the island by a Canadian, Erastus Wiman. In 1867, Wiman arrived in New York to oversee the main office of Dun, Barlow, and Company in New York.

This action on part of the State Department caused PSP to become insolvent. The insolvency of the company eventually precipitated a sale to a US/Canadian-based investor group in 1991 orchestrated by San Francisco, California based merchant banker Lenn Kristal. During 1995 the technology and inventory of parts of the FN Baby Browning project was spun out by the investor group into a new entity under Kristal's control and direction, which became known as Precision Small Arms, Inc. (PSA), and the pistol was rebranded at that time as the PSA-25 Baby. , PSA offers 27 versions of the original 1931 Baby Browning, including exhibition grade versions which incorporate orange, green and yellow gold, hand chisel engraving and rare materials.

He was Minister for Public Instruction in the Liberal government of Thomas Bent in 1908–1909, but thereafter did not hold office again until he became Premier. He emerged as one of the leaders of the conservative rural faction of the Liberal Party, known as the Economy Party, concerned with getting roads and railways to their districts, cutting government expenditure, and keeping country areas over-represented in the Assembly. In 1917 the Liberal Premier, Alexander Peacock, increased country rail fares, arguing that the Victorian Railways would otherwise become insolvent. In protest, Bowser led his faction into opposition, and at the election in November, Bowser's followers won 27 seats, to Labor's 18, the Peacock Liberals' 12 and the Victorian Farmers Union's four.

This measure involves only Part A. The trust fund is considered insolvent when available revenue plus any existing balances will not cover 100 percent of annual projected costs. According to the latest estimate by the Medicare trustees (2018), the trust fund is expected to become insolvent in 8 years (2026), at which time available revenue will cover around 85 percent of annual projected costs for Part A services. Since Medicare began, this solvency projection has ranged from two to 28 years, with an average of 11.3 years. This and other projections in Medicare Trustees reports are based on what its actuaries call intermediate scenario but the reports also include worst-case and best case scenarios that are quite different (other scenarios presume Congress will change present law).

Thus its agreement to lay the line between Cheltenham and Gloucester, on which the B&GR; depend had banked, was put back. The B&GR; were alarmed by this; if the C&GWUR; were to become insolvent and their powers lapsed, the B&GR; had no powers to form the line themselves. The C&GWUR; had a Bill before Parliament in the 1838 session, and it was mutually accepted that protective clauses for the B&GR; could be inserted; power was given for the B&GR; to build the line itself if the C&GWUR; failed to do so by a date; each company would build and own one town station. The B&GR; under these provisions soon built the line itself.

Combined with the UTF outgo estimated by the Projection Program, the Financial Forecast Program is capable of projecting the dynamic flow of the Unemployment Trust Fund on quarterly basis under different economic and legislative scenarios. Furthermore, the Financial Forecast Program also assesses the adequacy level of the UTF under different scenarios and report solvency measures (such as Reserve Ratio, Average high cost multiple, etc.)on annual basis. If the trust fund should become insolvent and borrowing from the Federal Government is projected, the Program is able to assess loan interests, any reduced FUTA credits (also known as FUTA credit reduction), and other key loan variables. Lastly, the Projection Program can also be run independently to perform benefit cost estimation as well as workload forecasting.

The direct beneficiary of the surety is the seller and should the sold firm become insolvent, following its sale, with any outstanding deferred payments due the seller, then the surety will pay the money to the vendor on the purchaser's behalf. The vendor agrees to vendor financing for tax reasons, as the consideration will be classified as capital gain rather than as income. It may also receive some other benefit such as a higher overall purchase price than would be obtained by a normal purchase. The advantage for the management is that they do not need to become involved with private equity or a bank and will be left in control of the company once the consideration has been paid.

A director of an insolvent company may be personally liable for insolvent trading if:. # he or she was director of the company at the time when the company incurred a debt; # the company was insolvent at the time when the debt was incurred, or became insolvent as a result of the incurring of the debt; # there were reasonable grounds for believing that the company was insolvent or would become insolvent; and # a reasonable person in the position of a director in the company's circumstances would have been aware of the company's insolvency. If a director is found to be in breach, then they may also be subject to a civil penalty application by ASIC. ASIC may also seek compensation orders on behalf of the creditors in addition to the liquidator.

Crowd at New York's American Union Bank during a bank run early in the Great Depression Roosevelt's ebullient public personality, conveyed through his declaration that "the only thing we have to fear is fear itself" and his "fireside chats" on the radio did a great deal to help restore the nation's confidence At the beginning of the Great Depression, the economy was destabilized by bank failures followed by credit crunches. The initial reasons were substantial losses in investment banking, followed by bank runs. Bank runs occurred when a large number of customers withdrew their deposits because they believed the bank might become insolvent. As the bank run progressed, it generated a self- fulfilling prophecy: as more people withdrew their deposits, the likelihood of default increased and this encouraged further withdrawals.

The government set up controls and restrictions aimed at keeping short-term speculative investment from destabilising financial markets. The country faced a potential debt crisis in late July 2014, when a New York judge ordered Argentina to pay hedge funds the full interest on bonds it had swapped at a discount rate during 2002. If the judgement proceeded, Argentina argued, the country would become insolvent and have a second debt default. Argentina's recovery suffered a minor setback in 2004, when rising industrial demand caused a short-lived energy crisis. Argentina continued to grow strongly, however, and GDP jumped 8.8% in 2003, 9.0% in 2004, 9.2% in 2005, 8.5% in 2006 and 8.7% in 2007. Though wages averaged a 17% annual increase from 2002 to 2008, and rising 25% in the year to May 2008,Ministerio de Economía y Producción – República Argentina inflation ate away at the increases: 12.5% in 2005; 10% in 2006; nearly 15% in 2007, and over 20% during 2008.

In the 1940s and 1950s the original Bankstown club played at Bankstown Oval and then in the 1960s and 1970s, they played out of a ground at Stacey Street and Gartmore Ave, Bankstown, then known as Bankstown Soccer Centre and now Ruse Park. In 1975, Yagoona Macedonia was created by a Mile Smileski in Yagoona and competed in their first domestic season and their first recorded game by the Bankstown Soccer Federation was against Padstow. As the years passed, so did the players and new faces began to emerge in the ever-growing Macedonian-Australian Sydney-based club. By 1988, the original Bankstown club had become insolvent and there was no elite team in the local area for several years. A consortium of local businessman merged three amateur clubs: Yagoona, Caltex, and Mladost, and purchased Maccabi Hakoah's licence to participate in the New South Wales Division 2, formulating the Bankstown City Sydney Macedonia Soccer Club.

Insolvent transactions are transactions entered into by a company whilst insolvent, or transactions entered into by the company the result of which caused the company to become insolvent. An insolvent transaction may be voidable when one of the following conditions apply: # It was entered into during the 6-month period immediately before the relation back day or during the period between the relation back day and the winding up; # it was an uncommercial transaction entered into during 2 years prior to relation back day; # it was a related entity transaction during the 4-year period prior to the relation back day; # it involved a situation where the company was a party to an unfair preference or uncommercial transaction in order to defeat, delay or interfere with the rights of any or all of its creditors and the transaction was entered into during the ten years immediately prior to the relation back day. There are two categories of insolvent transactions: unfair preferences, and uncommercial transactions.

MS 38464, fol. 37r.) (listing total debt as £49,353 12s.) in debt to his bankers, not only owed more money to Coggs and Dann than he owed to all of the Pitkin creditors combined but also owed them more money than he could pay. They realised they could not save their business, on January 12, 1710, the bankers gave notice in the newspaper to their creditors that they had become insolvent and would stop all payments. The identity of the creditors of the bank gives a vivid sense of how significant the bank’s failure was: Lord Fitzwilliams was owed £999 and his wife £675; Sir John Holt (Lord Chief Justice) of King’s Bench, was owed £500; Viscount Lanesborough was owed £2,100; Earl Lorraine was owed £5,919; the Duke of Marlborough was owed £1,268; the Duke of Norfolk was owed £872; the Duke of Newcastle was owed £1,570, and the list of proved debts goes on, running to 217 names and totalling £54,079.

In the early 1990s, an Air Nauru 737 was chartered to operate the Auckland-Niue route of Niue Airlines, the latter company's only service. In 1993 two of the 737-200s were replaced by Boeing 737-400s, leaving the Boeing 737-200C to soldier on for a little while longer.Australian Aviation magazine 1994 Major Airline Directory. Aerospace Publications Pty. Ltd. ISSN 0813-0876. The airline, by now only operating a single 737-400, was corporatised in July 1996 as the Nauru Air Corporation (NAC) headed by a new CEO without ties to the government, enabling it to operate independently in a commercial marketplace, free from most of its government constraints. Boeing 737-300s at Nauru International Airport (February 2016) In 1998 Air Nauru came under the regulatory control of the Civil Aviation Authority of Australia and since then has been a select foreign carrier holding an Australian Air Operator's Certificate (AOC). Mismanagement of the island's wealth and the resulting economic troubles caused the airline to lose large amounts of money, and on some occasions become insolvent.

In 1980, consolidation of newspapers, broadcasting, and telecommunications under the leadership of the new military The Jun Doo-hwan forces, which took control of the power due to the December 12 incident, established a press team (Lee Sang-jae) at the intelligence office of the security company in early 1980 and merged media companies to control the media essential to the power struggle, and dismissed journalists who were resistant or critical. The reason for the merger was that the media companies have become insolvent and a hotbed of corruption due to the turmoil of media organizations, undermining the sound media climate. The voluntary closure or consolidation was only a formality, and in fact, the New Military Department's security division led the move. The new military, including Jun Doo-hwan, was found to be part of a ruling scenario in which the government forcibly merged media outlets such as newspapers, broadcasters, and news agencies under the guise of improving the structure of the media to complete the rebellion of the new military forces.

The Agricultural Development and Marketing Corporation, usually known as ADMARC, was formed in Malawi in 1971 as a Government-owned corporation or parastatal to promote the Malawian economy by increasing the volume and quality of its agricultural exports, to develop new foreign markets for the consumption of Malawian agricultural produce and to support Malawi's farmers. It was the successor of a number of separate marketing boards of the colonial- era and early post-colonial times, whose functions were as much about controlling African smallholders or generating government revenues as in promoting agricultural development. At its foundation, ADMARC was given the power to finance the economic development of any public or private organisation, agricultural or not. In its first decade of operation, ADMARC was considered to be more business-like and less bureaucratic than similar parastatal bodies in other African nations, but from its formation it was involved in the diversion of resources from smallholder farming to tobacco estates, often owned by members of the ruling elite. This led to corruption, abuse of office and inefficiency in ADMARC and, as the result of declining world tobacco prices, it had become insolvent by 1985.

A transaction is an unfair preference if the company and the creditor are parties to the transaction and the transaction results in the creditor receiving from the company, in relation to an unsecured debt owed to the creditor, a greater amount than it would have received in relation to the debt in a winding up of the company. The liquidator will be required to prove the various elements in order to retrieve the monies paid out by the company. These include that: # there was a transaction between the company and a creditor; # the transaction was an insolvent transaction (that is the company was insolvent at the time of the transaction or the transaction caused the company to become insolvent); # the transaction occurred within six months of the relation back date or within four years of the relation back date if the transaction is with a related entity; and # the creditor received more than it would have in a winding-up of the company. If a transaction is held to constitute an unfair preference, the recipient will be required to repay the benefit received from the company to the liquidator for general distribution to all creditors.

The Court may not make an order against a party where it would materially prejudice a right or interest of a person who is able to bring themselves within the protective provision. Where the person defending the liquidator's claim was not a party to the voidable transaction, the protective provision requires that they must prove that they did not receive a benefit as a result of the transaction, or if a benefit was received, that it was received in good faith and at the time there was no reasonable grounds for suspecting company insolvent. But if the person defending the liquidator's claim was a party to the voidable transaction then they must prove:. # that they became a party to the transaction in good faith; # that at the time they became a party to the transaction, they had no reasonable grounds for suspecting that the company was insolvent at that time or would become insolvent; # that a reasonable person in the recipient's circumstances would have had no such grounds for so suspecting; and # that valuable consideration was provided or that they changed their position in reliance on the transaction.