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We do the liquidation of assets in order to give them money to operate".
Congress could make a clean break by reviving a 19th-century tradition for dealing with failing railroads: liquidation of assets.
It says the archdiocese will use a combination of insurance money and the liquidation of assets to settle the suits.
But the court action was seen as mainly procedural and an eventual liquidation of assets was likely, analysts and industry officials said.
MG Rover workers and campaigners had been hoping for £10m-30m to be paid into the trust fund following the liquidation of assets from within the Phoenix group of companies that owned MG Rover and its businesses.
LECHTERS INC., Harrison, N.J., a housewares retailer that filed for Chapter 11 bankruptcy protection in May, said it would close its 315 stores after 90-day going-out-of-business sales as part of its liquidation of assets.
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It is hoped that about one-third of the deposited money will be available fairly rapidly, corresponding to the liquid assets of the UK subsidiaries: liquidation of other assets, such as loans and offices, will take longer.
What we're trying to accomplish now is a very managed liquidation of the assets.
"This will ensure that there is no compelled liquidation of the assets in the SIVs," said Armin Kloss, a WestLB spokesman, referring to structured investment vehicles.
Depending on the precise terms, preference shareholders receive proceeds from the sale of a business, or from the liquidation of the assets of a failed company, before ordinary shareholders.
The dire consequences of bankruptcy for the debtor, such as the loss and liquidation of his assets, imprisonment, and loss of civil rights, resulted in the need for procedures avoiding such sanctions.
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CEO of Professional Science Editing for Scientists @ prosciediting.com