Example collocations logo

Bankruptcy in sentence

561 examples of Bankruptcy in a sentence

Japan found to its dismay that two decades of dreadful economic policies resulted in a cumulative bankruptcy of government and the nation’s finances.
But the large-scale destruction of financial assets because of underlying uncertainty about the extent of losses in the wake of the sub-prime crisis, and especially after the bankruptcy of Lehman Brothers, shook that assumption.
Why America Isn’t WorkingCAMBRIDGE – As the US economy limps toward the second anniversary of the Lehman Brothers bankruptcy, anemic growth has left unemployment mired near 10%, with little prospect of significant improvement anytime soon.
Gouging the GauchosNEW YORK – Like individuals, corporations, and other private firms that rely on bankruptcy procedures to reduce an excessive debt burden, countries sometimes need orderly debt restructuring or reduction.
Formal legal bankruptcy regimes for individuals and firms have evolved over time to accomplish this.
Because a formal bankruptcy regime for governments does not exist (though Anne Krueger, the International Monetary Fund’s then-deputy managing director, proposed one more than a decade ago), countries have had to rely on a market-based approach to resolve excessive debt problems.
But this implies a key problem: Whereas a bankruptcy court can force holdout creditors to accept the exchange offer as long as a significant majority of creditors have already done so (a so-called “cram down”), the market-based approach allows some creditors to continue to hold out and sue to be paid in full.
Either super-CACs need to be designed and introduced (though it will take years to include them in all new bond contracts) or the international community may want to reconsider whether the 2002 IMF proposal for a formal bankruptcy court for sovereign borrowers should be resurrected.
Moreover, mortgages, mutual insurance, leasing, and microfinance are underdeveloped in Islamic finance; insolvency and bankruptcy procedures must be improved; and mechanisms to deal with “Islamic bond” defaults must be established.
Obstfeld had in mind a bailout mechanism for banks, but it is now abundantly clear that one also needs a lender of last resort and a bankruptcy mechanism for states and municipalities.
Under the first, a soft economic landing occurs after China’s new leadership adopts ingenious policies to curb credit growth (especially through the shadow banking system), forces over-leveraged borrowers into bankruptcy, and injects fiscal resources into the banking system to shore up its capital base.
Technically, successful financial deleveraging means restructuring their debts and forcing some of them into bankruptcy.
Filing for what is essentially bankruptcy was a sensible move.
Moreover, the US bankruptcy code can free consumers of their debt within months.
The inability of the official Dutch report to clearly accept responsibility for the failures of the Dutch Battalion underlines once more the bankruptcy of so many UN peacekeeping operations: they have no mandate to stop aggression forcibly, and they are supposed to be neutral.
(A subsequent study by PIMCO bond traders Gang Hu and Mihir Worah concluded that this was linked to technical and institutional factors concerning the Lehman Brothers bankruptcy.)
The package can, however, prepare the ground by modifying bankruptcy law as it relates to principal residences.
In 1996, when Pakistan was near bankruptcy and contemplating default, I went to Beijing as the country’s finance minister to ask for help.
In 2003, Russia’s wealthiest oligarch Mikhail Khodorkovsky – a vocal advocate of democratization and tireless critic of Putin – was imprisoned on trumped-up charges of fraud and tax evasion, and his Yukos Oil Company was driven to bankruptcy, broken up, and sold off to Kremlin cronies.
On the other lurks the danger of bankruptcy and economic turmoil.
After consulting the IMF, the government has pushed insolvent banks to merge or face bankruptcy, allowed for the first big layoffs of workers, and "downsized" the bureaucracy through a strict reorganization.
Earlier this year, Puerto Rico declared bankruptcy.
This made it the largest “municipal” bankruptcy filing in US history.
Default on official domestic debt, either explicitly or through raging hyperinflation, had long preceded this latest manifestation of national bankruptcy.
Those conduits are now showing gigantic losses that have to be covered by the parent banks, some of which are being driven to the brink of bankruptcy.
But, though federal law allows such municipal debt to be restructured under Chapter 9 of the bankruptcy code in all 50 states, this does not apply to US territories like Puerto Rico.
Leading conservatives in the US – including at the Hoover Institution – have long argued in favor of using established bankruptcy procedures when large financial firms fail.
Although congressional Republicans have so far refused to allow for a judge-supervised bankruptcy process, bipartisan agreement remains possible.
No one, including Republican Senator Chuck Grassley, Chair of the powerful Senate Judiciary Committee, believes that debt restructuring by itself will bring back growth; but extending Chapter 9 of the bankruptcy code to Puerto Rico would help.
It also needs what has been a constructive part of the American economic model over 200 years – the ability to restructure municipal debt through bankruptcy.
BackNext