61 Sentences With "becoming insolvent" | Random Sentence Generator

Also, these plans have a long history of financial troubles, with some becoming insolvent.

Officials warned that the two programs, which made up roughly 40 percent of federal spending in 2015, would becoming insolvent within 85033 years.

Second, global banks are significantly better capitalized than they were in 2007 — they have bigger cushions that allow them to suffer losses without becoming insolvent.

" He continued: "In the absence of income, restaurants simply cannot pay our non-working team members for more than a short period of time without becoming insolvent.

SAO PAULO, Sept 19 (Reuters) - A reform to cut overly generous pension benefits is necessary to prevent Brazil from becoming insolvent in coming years, Finance Minister Henrique Meirelles said on Monday.

The Pensions Regulator said it helped to tackle unscrupulous advisers and fulfilled its primary role in evaluating and approving the complex restructuring of the British Steel pension scheme to prevent the company becoming insolvent.

Senvion, which is in self-administration after becoming insolvent in April, said the deal would secure the jobs of more than 2,000 of its staff, close to 60% of the total, adding it was working on finding additional solutions.

Because of the large withdrawals, the pension system's ability to pay its members' future benefits before becoming insolvent has been reduced from 15 years to 10 years, Dallas Mayor Mike Rawlings said in a letter to the board last month.

The third-largest city in the United States also faces pension contributions that will grow to $2.13 billion in 2023 from $1.02 billion this year even after raising fees and taxes to save the city's four pension funds from becoming insolvent.

Much of the mayor's budget address to the 50-member city council focused on his administration's accomplishments over the last seven years, including raising fees and taxes to save the city's four pension funds from becoming insolvent and shrinking a chronic budget deficit.

The U.S.-based bank, which over the past decade has driven down the cost of nullifying the risk of one of the parties to a trade becoming insolvent before payment, now settles more than 90 percent of transactions in the $5 trillion a day market.

The government, citing mismanagement and siphoning of funds by Unitech, had sought permission from NCLT to replace the existing 10 directors because it wanted to prevent the company from becoming insolvent and protect 19,000 home buyers who have yet to be handed apartments they had bought.

In addition to management discretion, coupon payments are subject to ANZ not breaching its regulatory capital requirements (common equity Tier 1, Tier 1 or Total) at Level 1, Level 2 and, if implemented, Level 963; or the bank not becoming insolvent as defined in the Corporations Act 2001; or APRA not objecting to the payment.

Guaranty associations were created to aid consumers in the event of an insurance company becoming insolvent during the claims process.

Legnam Corporation operated 132 general merchandise stores in 38 of the United States prior to becoming insolvent in June 1932. It sold ladies' apparel."Mangel Stores Corp.", Wall Street Journal, July 1, 1932, pg. 3.

They were also required to carry the bonds on the bank's books at market value, not face value. The act also disallowed supervisory goodwill by phasing it out through 1995. This resulted in the bank becoming insolvent.

It also extracted other commodities, mainly from the Gold Coast. After becoming insolvent in 1708, it survived in a state of much reduced activity until 1752 when its assets were transferred to the new African Company of Merchants, which lasted until 1821.

BikeNZ logo From November 2008 until December 2012, Rabobank New Zealand was the principal sponsor of BikeNZ. After the sponsorship arrangement expired, BikeNZ got close to becoming insolvent. Under its new chief executive officer, Andrew Matheson, BikeNZ was rebranded as Cycling New Zealand in December 2014.

The St. Heliers and Northcote Land Company built a 460m (1500 foot) pier at St. Heliers in 1882 before becoming insolvent. However, the tramway connection to Auckland was never realized. By 1890 St. Heliers had become a popular waterfront destination for day trippers, with excursions running from Auckland and Thames. Moonlight excursions from Auckland were especially popular.

English courts give standby credits the same legal status that is given to demand guarantees.Howe Richardson Scale Co Ltd v. Polimex-Cekop [1978] 1Lloyd’s Rep 161, 165 In the pecking order of seniority this, for the most part is true. In cases of a bank becoming insolvent all credit undertakings are deemed to be on par with the common shares of the bank.

Pārdaugava was established in 1984 as Daugava-RVZ, but in 1985–89 it represented the Latvian national under-21 football team. In 1991 it replaced the bankrupt FC Daugava Riga and was promoted to the Soviet First League in its place. After fall of the Soviet Union, Pardaugava for few seasons played in the Latvian Virsliga before becoming insolvent as well in 1995.

In 1805, Benítez was accused of financial improprieties by a political rival and although a criminal investigation led nowhere, by 1825 the accusations were enough to reduce the war hero to a customs agent in Guayama. After his death in 1832, his family's fortunes were further diminished, but his daughter was able to successfully petition the government for a land grant, which kept them from becoming insolvent.

Realitatea TV (, meaning "The Reality TV") is the former name of the Romanian news television channel Realitatea Plus. The channel began broadcasting in 2001 as a general-profile television and became the first Romanian news television in 2002. Its owners are Romanian politician Cozmin Guşă and businessman Maricel Păcuraru. After becoming insolvent in 2011 and bankruptcy in 2019, the channel lost his license on 31 October 2019.

Wacker 04 Berlin was a German football club based in Berlin. The club folded in 1994 after becoming insolvent. Wacker played at the highest level in Berlin for many years throughout its history, in the Oberliga Berlin-Brandenburg, the Gauliga Berlin-Brandenburg from 1933 onwards and, finally, the Oberliga Berlin. After the Introduction of the Bundesliga in 1963 Wacker dropped to the second tier Regionalliga Berlin.

On 9 January 2008, another Dutchman, Rob Delahaije, became Odra's manager, but his record was very disappointing: 4 ties, 2 losses. In 2009, Odra Opole withdrew from the Polish First League after becoming insolvent. In June of the same year, a new club by the name of Oderka Opole was established. Oderka plans to apply for acceptance into the Polish Fourth League to which Odra's reserves had won promotion.

Frederick ffoulkes Swanwick (died 1913) was a politician in Queensland, Australia. He was a Member of the Queensland Legislative Assembly. He represented the electoral district of Bulimba from 29 November 1878 to 4 July 1882. He was previously a schoolmaster and a barrister; after becoming insolvent and being struck off the Roll of the Queensland Bar in 1882, he established a legal coaching school at his residence in Norman Park, Brisbane.

"London Centre of Contemporary Music, Review for Educational Oversight". Retrieved 19 July 2018. Financial difficulties had begun to surface in late 2016. The UK Department for Education decided that LCCM's students would still be eligible to receive student loans, but asked the Open University to put in place a contingency plan to ensure that its students could continue their courses in the event of the college becoming insolvent.

The club was in danger of becoming insolvent and had been lingering at the bottom of the table.SVN zahlt keine Spielergehälter mehr fupa.net, published: 3 December 2015, accessed: 4 December 2015 In January 2016 the club withdrew its team from the Oberliga and restarted in one of the 10th-tier leagues below, the B-Klasse Pirmasens-Zweibrücken, for the following season by forming a joint team with FC Oberauerbach.

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.

Some observers and past employees have also criticized the company's employment practices. It has had some success franchising outside of the United States; it has opened franchises in Dubai, and Shanghai (as ). Other franchises, however, such as the one in Berlin, closed shortly after opening due to becoming insolvent. With a long history of different locations within the U.S. state of California, its current flagship and largest facility of is headquartered in Burbank, California.

Among the greater operations, the Nassauische Marmorwerke closed its gates in 1979 after becoming insolvent. Likewise, the Steinverarbeitungsbetrieb Engelbert Müller, which had been known since the War for great building projects of sacred objects, shut down in 2001. The last quarrying in Villmar was done in 1989 for the reconstruction of the high altar at the Jesuitenkirche Mannheim, which had been heavily damaged in the Second World War. Four stoneworking businesses are still running in town today.

On 11 May 1852 he married Maria Cooper at Surry Hills; they had four children. He managed a variety of stores throughout the region and was an alderman at Goulburn from 1859 to 1887, serving four times as mayor. In 1877 he was elected to the New South Wales Legislative Assembly for Argyle, but he did not re-contest in 1880. He went further into business in the 1880s, becoming involved in mining and railway companies before becoming insolvent in 1887.

The 2001–02 Scottish Second Division was won by Queen of the South who, along with second-placed Alloa Athletic, were promoted to the First Division. Greenock Morton were relegated to the Third Division. Stenhousemuir avoided relegation due to First Division Airdrieonians becoming insolvent, meaning that only one team was relegated from each of the First and Second divisions. This was also the last year that Clydebank would play in the Scottish Football League and were replaced by Airdrie United next season.

Many took this as an opportunity to try out similar products, and discovered that FoxPro and Clipper had been better than dBASE for some time already. The company was soon bleeding money and gave up on the Mac market, ending development of their entire suite. By 1991, the company was becoming insolvent and was purchased by Borland for cents on the dollar. Unfortunately, Borland had their own spreadsheet battling with Excel on Windows, Quattro Pro, and they immediately ended sales of Full Impact.

Eik Banki Føroya P/F is a financial services group in the Faroe Islands, which was previously one of the two major privately owned banking firms based in the country. Established in 1832, the group, which also operated in mainland Denmark, encompassed retail, corporate and investment banking activities as well as real estate brokerage. The company was nationalised by Denmark in October 2010 after becoming insolvent, with its Danish retail banking operations being sold later in the year to the regional bank Sparekassen Lolland.

During the 1880s, Cowan encountered business difficulties and was on the verge of becoming insolvent.'Meeting of Creditors', South Australian Register (Adelaide, SA ), Tuesday 24 March 1885, page 4, , retrieved 30/08/2012.'Insolvency Court', South Australian Register (Adelaide, SA ), Tuesday 15 November 1887, page 3, , retrieved 30/08/2012. Cowan considered re-standing for the Electoral district of Yalata when a vacancy was created in July 1890 by the death of James Cowan, his younger brother who was the one of the two current sitting members.

The private company equivalent in Australia is the Proprietary Limited company (Pty Ltd). An Australian company with only Limited or Ltd after its name is a public company, such as a company listed on the ASX. Australia does not have a direct equivalent to the plc. A shareholder in a limited company, in the event of its becoming insolvent (equivalent to insolvency in the United Kingdom) would be liable to contribute the amount remaining unpaid on the shares (usually zero, as most shares are issued fully paid).

It was also alleged that the captain sold the Islanders to the colonists for £9 a head, while a missionary noted that the Islanders were unlikely to understand why they were taken. In 1869 Robert Tooth and Robert Cran bought up a number of plantations in the region and established the Yengarie Sugar Refinery. They became the local dominant sugar manufacturer with the Maryborough Sugar Company becoming insolvent. By the end of the 1870s, Robert Cran and his sons had taken control of operations under the name Cran & Co.

On September 6, 1918, the CNoR was nationalized after becoming insolvent and its government-appointed directors were ordered to assume operation of the CGR system. On December 20, 1918, the federal government created the Canadian National Railways (CNR) under which the CNoR and CGR were to be operated. Several years later, on July 12, 1920, the GTPR was nationalized and entered the CNR fold. The GTR itself was placed under government control several weeks earlier on May 21, 1920; however, GTR was not merged into the CNR until January 23, 1923.

In 2001, the club came only fourth in its division and suffered its first quarter final exit since 1989, losing to the Cowboys. Doing better in the league in 2002, the team nevertheless lost in the quarter finals once more, this time to the Stuttgart Scorpions. The final season in the league now renamed the German Football League saw the team win only one game all season and finish in fifth place, a point and a rank above the relegation spot. Despite having qualified on the field for the 2004 GFL season, the club was unable to participate, instead becoming insolvent.

In April 2018, The Hague Institute for Global Justice closed down after becoming insolvent. The Institute was declared bankrupt in May 2018. In July 2018, following talks between the Institute and Sohair Salam Saber, a Jordanian businesswoman and philanthropist, a declaration of intent to continue the legacy of The Institute was announced. In September 2018, Saber acquired the logo, name, website and publications of the Institute from curator Marc Udink for €75,000; the Municipality of The Hague and the Ministry of Economic Affairs had a preference for a Dutch restart, but according to Udink, there was no domestic interest.

Thomas Cook Balearics had closed down after becoming insolvent on 26 December 2019. On 24 January 2020, it was announced that Polish carrier LOT Polish Airlines had acquired German airline Condor, with the acquisition expected to be completed by April 2020 once antitrust approval had been secured. However, on 13 April 2020, it was announced that LOT Polish Airlines had withdrawn its offer to acquire German airline Condor, with the German government agreeing to support Condor with emergency liquidity. The German airline Thomas Cook Aviation filed for bankruptcy due to the COVID-19 pandemic on 2 April 2020.

The federal Parliament had not enacted any legislation under this head of power at the time of the events, and to suggest that the mere possibility that Parliament would enact such legislation in future should take the matter out of provincial jurisdiction "... would go very far to destroy that [provincial] power in all cases."L'Union St. Jacques de Montreal at pp. 36-37 (AC). Lord Selborne went on to describe the extent to which the federal power could reach: Lord Selborne noted that there was no proof that the Union was insolvent, and in fact the tendency of the Act was to keep it from becoming insolvent.

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.

An estimate by the Los Angeles Times of Merced Property and Casualty Company's assets and reinsurance shows that they would only be able to cover 150 homes out of the 14,000 homes destroyed in a region where they were one of the only companies that still provided fire insurance policies despite the region being categorized as a high fire-hazard severity zone by the California Department of Forestry and Fire Protection. This is the only known instance of an insurance company becoming insolvent from a single event. Prior to the fire, Chico had a housing vacancy rate of less than 3 percent. The loss of several thousand residences placed additional strain on Butte County's housing market.

The locally manufactured bricks were unusual in a privately commissioned building of this era and location, demonstrating that little expense was spared in the construction. Stan Pollard commenced working at Daking-Smith & Co.'s store in 1912 at the age of sixteen, however, in 1925 Daking-Smith's business was wound up and the store stood empty for a number of years. In 1928 a ten-year lease of the building was taken by the ACB company, who conducted a mail order service for a short period before becoming insolvent. During this period Stan Pollard opened his own small menswear business alongside the Daking-Smith store in Gill Street, and by 1934 was able to purchase the Daking-Smith building in partnership with John Hall.

Dangerous tasks are common in the construction workplace Workers' compensation or workers' comp (formerly workmen's compensation until the name was changed to make it gender-neutral) is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence. The trade-off between assured, limited coverage and lack of recourse outside the worker compensation system is known as "the compensation bargain". One of the problems that the compensation bargain solved is the problem of employers becoming insolvent as a result of high damage awards. The system of collective liability was created to prevent that, and thus to ensure security of compensation to the workers.

Her first hit single "Rock-a-Doodle-Doo" reached No. 15 in the UK Singles Chart in the summer of 1973, and it was followed by the album Fathoms Deep, which featured former Jeff Beck group guitarist Bobby Tench. This album established her as one of Britain's most promising young female singer-songwriters and was critically acclaimed, but it did not have the expected success, probably due to Raft Records becoming insolvent at that time. However, several appearances on the BBC TV show Top of the Pops raised her profile, and an extensive world tour with Cat Stevens followed. On her return to the studio, she signed to Arista Records and recorded what would become her breakthrough album Not a Little Girl Anymore (1975), which featured Allen Toussaint and the Tower of Power horn section.

In March 2018, following suspension of the County Council arising from its becoming insolvent, due to financial and cultural mismanagement by the cabinet and officers, the then Secretary of State for Local Government, Sajid Javid, sent commissioner Max Caller into the council, who recommended the county council and all district and borough councils in the county be abolished, and replaced by two unitary authorities, one covering the West, and one the North of the county. These proposals were approved in April 2019. It will mean that the districts of Daventry, Northampton and South Northamptonshire will be merged to form a new unitary authority called West Northamptonshire, whilst the second unitary authority North Northamptonshire will consist of Corby, East Northamptonshire, Kettering and Wellingborough districts. These new authorities are due to come into being on 1 April 2021.

If one of the solidary obligors becomes insolvent, such as through bankruptcy, his portion of the debt must be covered by each of the remaining solidary obligors in proportion to their own portions. The insolvency of one or more obligors does not affect the overall relationship between the obligors and the obligee, however, because he still can demand full performance from just one of them. Even if an obligor has had his solidarity renounced, he still must contribute in some way to make up for the loss resulting in another obligor becoming insolvent; all of the solidary obligors bear the loss arising from insolvency of a solidary obligor in proportion to their portions. However, an obligor who has had his solidarity renounced would never be liable for more than his fair portion if an obligor never becomes insolvent.

In March 2018, following suspension of the County Council arising from its becoming insolvent, due to financial and cultural mismanagement by the cabinet and officers, the then Secretary of State for Local Government, Sajid Javid, sent commissioner Max Caller into the council, who recommended the county council and all district and borough councils in the county be abolished, and replaced by two unitary authorities, one covering the West, and one the North of the county. These proposals were approved in April 2019. It will mean that the districts of Daventry, Northampton and South Northamptonshire will be merged to form a new unitary authority called West Northamptonshire, whilst the second unitary authority North Northamptonshire will consist of Corby, East Northamptonshire, Kettering and Wellingborough districts. These new authorities are due to come into being on 1 April 2021.

Following the passage of the Bank Holding Company Act of 1956, BankAmerica Corporation was established for the purpose of owning and operating Bank of America and its subsidiaries. Bank of America expanded outside California in 1983, with its acquisition, orchestrated in part by Stephen McLin, of Seafirst Corporation of Seattle, Washington, and its wholly owned banking subsidiary, Seattle-First National Bank. Seafirst was at risk of seizure by the federal government after becoming insolvent due to a series of bad loans to the oil industry. BankAmerica continued to operate its new subsidiary as Seafirst rather than Bank of America until the 1998 merger with NationsBank. BankAmerica experienced huge losses in 1986 and 1987 due to the placement of a series of bad loans in the Third World, particularly in Latin America. The company fired its CEO, Sam Armacost in 1986.

The constituency's Conservative MP at the time, Tom Pursglove, had also been in favour of the UK leaving the European Union being one of the founders of Grassroots Out, the pro-Brexit organisation largely supported by Conservative and UKIP politicians. Corby used to have 15 wards at the time of the 2011 census however following a boundary change only 11 remain. Some entirely new wards were created in the change however the Beanfield, Central, Danesholme, Rowlett, Rural West, Stanion and Corby Village, Weldon and Gretton and Lodge Park wards remained in existence. In March 2018, following suspension of the County Council arising from its becoming insolvent, due to financial and cultural mismanagement by the cabinet and officers, the then Secretary of State for Local Government, Sajid Javid, sent commissioner Max Caller into the council, who recommended the county council and all district and borough councils in the county be abolished, and replaced by two unitary authorities, one covering the West, and one the North of the county.

In January 2014, Roman Abramovich through his Millhouse LLC, which is a Moscow-based asset management company, signed an agreement at the John Houghtaling II house in New Orleans and made a $50 million investment in the American Ethane Company but backed out in late 2015 after the Russian intervention in Ukraine and the Russian annexation of Crimea because of sanctions against Russia. Nikolaev's investment was pivotal to keep American Ethane from becoming insolvent which would force a bankruptcy. In April 2017, Abramovich recouped $21 million to his Eucla Investments Ltd for the debt owed to Abramovich from Houghtaling of American Ethane. Since 2015, American Ethane has aggressively increased its market share in China receiving more than 7.2 million tons of ethane per year for power generation in General Electric plants. Announced on November 9, 2017, during the U.S.-China Business Exchange attended by both President Donald Trump and Xi Jinping, the Nanshan Group of China agreed to a $26 billion 20-year trade deal to receive liquid ethane from American Ethane.

Outside the UK, the completion and handover of six schools being constructed under PFI arrangements in Ireland was also suspended following Carillion's liquidation, with Irish suppliers fearing non- payment of Carillion debts (on 6 April 2018, 216-strong Co Kildare-based Sammon Contracting Group sought bankruptcy protection after becoming insolvent due to €8m debts on the schools projects, before going into liquidation in early June; numerous other Irish subcontractors were also owed sums - on one school, figures ranged from €16,000 to over €200,000). Work was not expected to resume until May 2018. In March 2018, it was announced that the schools building and facilities contracts had been re-tendered, with the schools expected to open in September 2018, but concerns about whether this completion date would be met continued in late April. In June 2018, the six former Carillion schools contracts were reported to have been taken over by Omagh, County Tyrone-based contractor Woodvale Construction, with three schools to open in September 2018 and three in December 2018.

Four companies in Lagan Construction Group went into administration owing £21m in early March 2018 partly as a result of Carillion's insolvency; tightened credit terms and requests for upfront payments had affected cashflow. Similarly, 55-strong Chippenham-based flooring contractor Polydeck blamed Carillion "tailwinds" after it went into administration on 25 May 2018. Cheshire-based civil engineering contractor D G Cummins lost £1.8m owed by Carillion for work undertaken on the M6 motorway widening contract junctions 16–19, and, facing a £600,000 tax demand, had to file a notice of intent to enter administration, endangering 50 jobs. In October 2018, a report from accountant Moore Stephens said Carillion's liquidation had triggered a 20% spike in the number of UK building firms becoming insolvent: 780 companies fell into insolvency in the first quarter of 2018, up a fifth on the same period in 2017, with small to medium-sized companies and specialist subcontractors particularly hard hit, having to write off virtually everything owed to them by Carillion. Total construction insolvencies in 2018 were up 13% to 2,954 companies, according to law firm Nockolds, who said fallout from Carillion's collapse had contributed to a spike in businesses folding.

In 2006 IRS bought the European assets of Trinity Industries Inc. (USA) for $30 million. The acquired businesses were Astra Vagoane Arad (Romania), MSV Metals Stdenka (Czech Republic), and works in Zug, Switzerland and Poprad, Slovakia. The resultant company in 2007 had three main business divisions: the rail manufacturing division consisted of Astra Vagoane Arad, Meva SA, and Romvag Caracal plus metal forgings manufacturer MSV Metal Studenka; rail wagon fleet company Servtrans; and the marine division through the holdings in Severnay shipyard. In 2008 IRS together with an investor associate acquired a controlling share holding in three former subsidiaries of Mašinska Industrija Niš (Nis, Serbia), the manufacturing companies: MIN Vagonka (wagons), MIN Lokomotiva (locomotives), and Specijalna Vozila (lifting equipment, specialised vehicles). IRS acquired a 49% share of parent holding company Friulexport d.o.o.. In 2009 the contract of sale was annulled, and the privatisation of the companies reversed. In 2009 the company's exports amounted to 1.1% of Romania's total exports, and was the largest European manufacturer of rail wagons with a 20% market share. IRS's rail wagon orders were deeply affected by the Great Recession following the financial crisis of 2007–08 resulting in the main wagon building business becoming insolvent in 2010.