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If debtors cannot repay, creditors should bear the losses.
And all of it eventually must be converted to cash to repay creditors.
The firm's highest paid lawyers gave back as much as $3.5 million to repay creditors.
The bill's sponsors say that many debtors earn enough to repay creditors some of their debts.
Footstar has made the contract the centerpiece of a plan to repay creditors.
The doctor said he had decided to sell his property to repay creditors who helped him raise the ransom.
Similar(12)
The Warnaco Group, the maker of Calvin Klein jeans, emerged from bankruptcy after repaying creditors with new shares and eliminating more than $2 billion in debt.
Mr. Perales says enthusiastically that the fund, with a budget of $1.8 million, is on the upswing, repaying creditors, bringing the staff back full time.
On Tuesday, NextWave, based in Greenwich, Conn., won court approval of a plan to exit bankruptcy by giving shareholders as much as $3.2 billion and repaying creditors.
To enter a CVA a company's arrangement for repaying creditors must be approved by three-quarters of them and supervised by an insolvency practitioner.
If approved, the plan could enable what remains of the fourth-largest U.S. investment bank to emerge from Chapter 11 protection and start repaying creditors.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com