"With the total now close to £30bn, the taxpayer cannot be expected to continue to dole out just vast sums of money on a weekly basis especially as much of it appears to be unsecured and may end up going down a plughole.
In extending by 120 days a deadline set to expire this week, Judge Allan L. Gropper of United States Bankruptcy Court in Manhattan rejected the unsecured creditors' request to end Loews's sole right to advance the plan.
Likewise, if a gallery files for bankruptcy, as Salander-O'Reilly did in 2007, collectors who have consigned art without filing a uniform commercial code form may end up as unsecured creditors in bankruptcy court.
Sanders, the department spokesman, said firefighters would conduct their own survey to identify unsecured vacant buildings by the end of June that present a "significant risk".
Sanders, the department spokesman, said firefighters would conduct their own survey to identify unsecured vacant buildings by the end of June that present a "significant risk". The fire broke out about 7 p.m. Monday, after Sanchez allegedly got into a dispute with other homeless people at the building.
According to the indictment, "This email was in reference to a plan to have JW transfer shares of Star Scientific stock" to the McDonnells (they ended up taking an unsecured fifty-thousand-dollar "loan" instead).
The US Airways offer would be to the unsecured Delta creditors, who are expected to end up with equity in the carrier when it emerges from bankruptcy protection.
Ms. Larabee of the F.T.C. said, "This particular company told consumers that they could negotiate their unsecured credit card debts and that consumers would end up paying pennies on the dollar".
This should not be a problem given that Mirant will end up collateralized versus its current unsecured position today.
The other end of the rope can remain unsecured for now.
Credit card debt is unsecured; if a borrower files for bankruptcy, the lender usually ends up with nothing.
