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He said the 2005 law that established the loan program that said that in case of liquidation, the government "shall be" first in line.
Joe Barton of Texas praised Dr. Chu's integrity but asked about a decision that Dr. Chu approved, to allow Solyndra to restructure its loan and take in new money, putting the government second in line for reimbursement in case of liquidation.
Page A10 HOUSE PANEL EXAMINES DEAL The Energy Department may have made a decision without precedent when it allowed Solyndra, the solar technology company, to restructure its loans so private investors -- not the government -- would have first call on its assets in case of liquidation, two Treasury Department officials acknowledged.
WASHINGTON — The Energy Department may have made a decision without precedent when it allowed Solyndra, the now bankrupt solar technology company, to restructure its loans so private investors — not the government — would have first call on its assets in case of liquidation, two Treasury Department officials acknowledged Friday before a House subcommittee.
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No other airline has terminated all its pension plans, except in cases of liquidation, where the airline itself was going out of existence.
One is on the question of how the government gave away its place as first creditor in line in case of a liquidation.
The stake is thus no longer to decide whether the company should repay or not all the claimants but, instead, to make a decision concerning how much debtors should repay in case of rescue or liquidation.
The settlement came in the case of the Arizona Baptist Foundation, whose bankruptcy liquidation trustee sued Andersen after the foundation collapsed.
Mr. LoPucki said he did not expect a liquidation in the case of US Airways, though, because unsecured creditors -- those holding certain types of short-term debt and some bonds -- and shareholders might receive nothing if the company was broken up and sold.
Also accounting for the unwinding of the clean hedge of netting set i at the time of liquidation of counterparty i, the loss of the bank in case of default of counterparty i appears as (assuming τ i ≤τ).
Thus, the supervisor liquidates the bank when the social benefits of liquidation, which are (E(Lmid s -E(Rmid s -E aRmidreater than the liquidation cost (deltare.
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