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That is a long way from justice.Read on: The new debtors' prisons.
The charge that "austerity mongers" on the Continent have been standing guard over a new debtors' prison cannot be easily dismissed.
Specific relief measures (administrated by a bank or a new debtors ombudsman) applied for those that could not service a reduced loan.
For now, Northstar, Capital Management Services and other collectors here already are adding hundreds of jobs as they brace for an onslaught of new debtors.
PAGE A24 THE NEW DEBTORS' PRISONS Edwina Nowlin of Michigan spent 28 days in prison because she could not afford to pay $104 a month to reimburse a juvenile detention center where her son was held.
This irks voters and scares Democrats facing re-election.In this section Throwing away the key The new debtors' prisons Searching for a cure No brainer Migrants with mortar boards Minding the gap A different story Barack, Bibi and Iran ReprintsMore than 90% of the insurance market is unaffected.
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The company said that the filing was caused partly by the Sept. 11 attacks and that it needed new debtor-in-possession financing to keep operating.
This third part of the PECL will contain principles concerning conditions, the effect of illegality and matters common to all component parts of the law of obligations such as plurality of debtors and creditors, assignment of claims, substitution of a new debtor, set-off and prescription.
The second new debtor-friendly Florida law (both were signed into law May 31) restricts creditors' access to limited liability company assets.
Yet another risk: Silberman's new debtor clients--most are small businesses with up to $5 million in sales--often have tough track records.
The company has secured a commitment of $125 million in new "debtor-in-possession" financing from the senior noteholders to help meet its obligations to customers, suppliers and employees in the ordinary course during the recapitalization process.
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