Questions tagged [bankruptcy]

relating to organizations or individuals running out of cash flows. Additional context specific tags may be used as appropriate.

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What to do when my co-signer files Chapter 7?

I have an open auto loan and have finally caught my payments back up. My mother is overwhelmed by her debt and is the co-signer on the loan. She has officially filed for chapter 7 bankruptcy and told ...
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145 views

What happens to wages when you go bankrupt? (England)

I am having a difficult time keeping up with my payments during the pandemic after being furloughed since March. I have contacted StepChange and they have advised me that the best course of action for ...
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38 views

Where are business obligations, like a property lease, on the debt seniority ladder?

Consider the perspective of a REIT. If one of the REITs tenants files for bankruptcy, does the REIT get paid first to satisfy the terms of the lease or do the tenant's bond holders get paid first? I'...
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98 views

(Hypothetical) Write off Loss of Cash due to bankruptcy of financial institution

In both Canada and the United States, how do we write off the loss due to bankruptcy of the financial institution in excess of deposit insurance on the tax return for the tax year when the bankruptcy ...
2
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0answers
148 views

Co-owning a house, what happens during chapter 7 bankruptcy?

My mother-in-law is considering filing chapter 7 for her small business. She has about $100,000 debt. Her only asset is a house that she and my wife bought as joint-tenant worth about $700,000 with ...
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80 views

Bankruptcy discharged in 2004 and Consumer Proposal in Jan. 2015: Worthwhile to try to apply for a mortgage now?

I assume that mortgage lenders can no longer see my aunt's bankruptcy (that my aunt's credit reports do not show) because it is past 7 years. Now responsibly using 2 Credit Cards, my aunt accepts ...
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36 views

What happens when a Singaporean stock brokerage firm goes bankrupt?

In Singapore, what would happen if a stock brokerage firm collapses? What happens to the customers' shares and cash? Are brokerage accounts insured in the same way that bank accounts are insured by ...
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1answer
72 views

What happens to a company's ticker when bought out by a private company?

A U.S. company files for chapter 7 bankruptcy. A private company in Hong Kong buys the U.S company's IP and brand name to continue the company. The U.S stock ticker for the company still trades. It is ...
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110 views

Does tracking stock become worthless when the parent company becomes worthless?

If a parent company that has tracking stock stock becomes worthless, do the shareholders of the tracking stock have claims on assets (e.g. subsidiaries) that the tracking stock tracks? Or is tracking ...
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Withholding Agents in Canada

Hello everyone I had a quick question about Canadian banks. I have my investment accounts with my bank (big 5 bank). Legally when I buy the stocks they hold them for me, until I decide to sell them. ...