Bankruptcy Bailout

SINGAPORE/BEIJING (Reuters) – Chinese independent refiner Shandong Haiyou Petrochemical Group aims to restart its key crude oil unit in June, a year after it was idled following a bankruptcy filing,

Bankruptcy as Bailout: Coal Company Insolvency and the Erosion of Federal Law Posted by Joshua C. Macey (Cornell Law School) and Jackson Salovaara , on Wednesday, May 22, 2019

The 2009 general motors chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through Chapter 11, Title 11, United States Code in the united states bankruptcy court for the Southern District of New York. The United States government-endorsed sale enabled the NGMCO Inc. to purchase the continuing operational assets of the old GM. Normal operations, including employee compensation, warranties, and other customer service were uninterrup

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 · David Skeel of the University of Pennsylvania Law School talks with EconTalk host Russ Roberts about bankruptcy and the government bailout of the auto industry. Skeel argues that the bailout damaged the rule of law by not allowing a bankruptcy procedure to take its course. Skeel speculates on how bankruptcy for GM and Chrysler might [.]

The Real Difference Between Bankruptcy and Bailout. by Economonitor. Nov 12, 2008. When a big company that gets into trouble is more valuable living than dead, there used to be a well-established legal process for reorganizing it – called chapter 11 of the bankruptcy code.

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The Real Difference Between Bankruptcy and Bailout. The resulting savings, combined with the bailout, should be enough to allow the Big Three to shift production to more fuel efficient cars while keeping almost all its current workforce employed. Ideally, major parts suppliers would adhere to the same conditions.

On December 11, 2008, the House of Representatives buckled under the automakers’ demands, voting (largely along party lines) in favor of a $14 billion bailout. The next day, however, the Senate voted down the legislation. A week later, lame-duck President George W. Bush and Treasury Secretary Henry Paulson intervened.

Detroit couldn’t look to its county government for a bailout. The city was already part of Wayne County. Being part of Wayne County couldn’t save it. Five years ago, the city of Detroit filed for.

"Bailout or Bankruptcy: What Will It Take to Get the U.S. Auto Industry Back on Track?." Knowledge@Wharton. The Wharton School, University of Pennsylvania, 10 December, 2008.