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"Before you can find new money, you have to deal with the bankrupt entity".
(Of course, going after Moody's and S.& P. would seem easier than suing Lehman; it is harder to collect from Lehman, a bankrupt entity).
Even the most dutiful Catholic may be nervous about giving money to a bankrupt entity (moral and otherwise).The victims' lawyers argue that even talking about bankruptcy is a ploy to keep down the level of settlement pay-offs.
Two options consistent with continuing membership of the eurozone presented themselves: the sensible one, that any decent banker would recommend – restructuring the debt and reforming the economy; and the toxic option – extending new loans to a bankrupt entity while pretending that it remains solvent.
If you had stock in a bankrupt entity or bad debt, you can take a capital loss without the hassle of trying to recover money in a lawsuit.
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Mr. Tapie has made his fortune by purchasing distressed and bankrupt entities.
Robbins is undaunted by the task of tracking down the loot from bankrupt entities and scattered executives.
And while no one has suggested that there is anything even mildly scandalous about Comcast, the company has something in common with those now bankrupt entities: It has consistently gotten more, mostly through deal-making, and done less with what it got.
As my friend Bill Mitchell has pointed out, political leadership is about pushing the boundaries of the political debate, rather than being constrained by the false choices in the prevailing political orthodoxy, foisted on us by intellectually bankrupt entities like the Federal Reserve.
Like a thief in the night, that was the moment selected with precision by U.S. Treasury Secretary Timothy Geithner to stealthily announce a radical policy shift regarding the two bankrupt Government Sponsored Entities (GSEs), Fannie Mae and Freddie Mac.
The Superfund pays for cleanups only when the E.P.A. cannot determine who was responsible for polluting the site, or if that entity is bankrupt or no longer in business.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com