When the deal closed in February 2013, David Nassif Associates announces it would wind down its operations and liquidate its remaining obligations.
The term "payment" means a payment of United States dollars, another currency, or a composite currency, and a noncash delivery, including a payment or delivery to liquidate an unmatured obligation.
The report also notes that had A.I.G. defaulted the "systemic implications" — i.e., a global bank run — "might have made it difficult for Goldman Sachs to collect on the credit protection it had purchased" as well as liquidate its credit default obligations.
British and Dutch authorities have already seized all of Landsbanki's assets in their countries, and are proceeding with plans to liquidate them to satisfy the IceSave obligations.
That examination made it clear that the fund would not be able to cover its obligations if it were forced to hurriedly liquidate its positions.
"Recently, questions have been raised regarding a firm's obligations when it receives a customer's unsolicited instruction to liquidate a position in an illiquid security when the customer is aware of specific buying interest in that security," the notice states.
It also requires the Treasury to liquidate its stake in a bank once a company repays its TARP obligations.
VCs don't have any obligation to put good money after bad, but to liquidate a viable startup simply to help out another portfolio company is evil stuff.
Mr. Gotbaum said the government was willing take over the pension obligations of companies that had no choice but to end their pension plans or liquidate.
What that means is that were the company to sell its bonds at current market value and liquidate its other assets and liabilities at book value, it would not have enough money to meet all its obligations.
Meanwhile, its revenues continued to tumble, making it impossible to support the $30m a year that it was obliged to pay in health-care and pension obligations for 6,000 former employees whom it had acquired in prior takeovers.This summer a decision was made to liquidate.
