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GO BANKRUPT [3 records]

Record 1 2004-07-21

English

Subject field(s)
  • Bankruptcy
  • Loans
DEF

An arrangement between a debtor and his/her creditors allowing the debts due to be paid as agreed by the creditors, rather than allow the debtor to go bankrupt. [Klein, Gerald. "Dictionary of Banking". Pitman Publishing, 1995].

French

Domaine(s)
  • Faillites
  • Prêts et emprunts
DEF

Convention conclue entre un débiteur insolvable et ses créanciers, ratifiée par le tribunal, par laquelle les créanciers consentent au débiteur soit une remise partielle de sa dette (concordat de remise), soit des délais de paiement (concordat d'atermoiement), soit les deux simultanément.

Spanish

Campo(s) temático(s)
  • Quiebras
  • Préstamos
DEF

Convenio entre los acreedores y el quebrado o concursado.

PHR

Escritura de concordato.

Save record 1

Record 2 2000-07-13

English

Subject field(s)
  • Corporate Economics
  • National and International Economics
CONT

Wharton is a powerful symbol of where our country went wrong in the 1980s. It was here at Wharton that Michael Milken got the idea to use junk bonds to leverage corporate buyouts--a quick-buck scheme that was supposed to shake up failed management but too often forced corporations to lay off workers in formerly profitable plants, reduce R&D, and ultimately to go bankrupt or sell out again under the crushing burden of unserviceable debt.

CONT

Even the stronger enterprises were not immune from the problem of unserviceable debt as the state had in the past arbitrarily absorbed their profits and forced them to build up a large stock of debt.

CONT

Total Third World debt is in the hundreds of billions, piled up under the auspices of the World Bank and sister agencies when they were attempting to impose their brand of global statism on any country desperate or corrupt enough to accept the money. The majority of these loans are unlikely to be repaid, especially those to the poorest nations. This creates a problem for the people who run the World Bank, a band of bureaucrats who for years claimed that their lending practices were sound and that their loan default rates were low. What the loans did, aside from provide tax-free employment opportunities for thousands of World Bank credit officers, was create scores of nations with large, unserviceable debt burdens.

French

Domaine(s)
  • Économie de l'entreprise
  • Économie nationale et internationale

Spanish

Save record 2

Record 3 1997-10-27

English

Subject field(s)
  • Finance
  • Pensions and Annuities
CONT

... the workers already in the workforce, who had contributed to the state [pension] system, were given the option of staying in the system even though we thought its future was problematic. Those who moved to the new system received what we call a "recognition bond", which acknowledges their contributions to the old system. When those workers retire, the government will cash the bonds. New workers have to go into the new private system because the old system is bankrupt.

French

Domaine(s)
  • Finances
  • Pensions et rentes

Spanish

Save record 3

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