Introduction
A couple of weeks ago, the Chapter 7 Trustee (the “Trustee”), in the Ultimate Acquisition Partners bankruptcy, began filing complaints to avoid and recover payments the Trustee alleges constitute preferential transfers under section 547 of the Bankruptcy Code. Ultimate Acquisition filed chapter 11 petitions for bankruptcy in the Delaware Bankruptcy Court on January 26, 2011 (the “Petition Date”). At the time it filed for bankruptcy, the company operated retail stores under the name “Ultimate Electronics.” This post will look at why Ultimate Acquisitions filed for bankruptcy, why the case converted to a Chapter 7 liquidation, as well as address some issues that often arise in preference litigation.
Reasons for Bankruptcy
Prior to filing for bankruptcy, Ultimate sold “high-end home entertainment and consumer electronics” in over 40 stores throughout the mid-west and western United States. See Declaration of Ultimate’s CEO in Support of Chapter 11 Petitions (the “Declaration”), at p. 2, a co
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During the current market environment a good number of investors who lost money did so because they failed to keep the profits they attained or cut their losses. What they needed were strategies that could effectively help provide a means for exiting an equity position or offsetting losses when your stock moves against you.
One technique that Investment U recommends is using a trailing stop. Trailing stops are simply a stop-loss order set a certain percentage below the value of the stock – and then adjusted as the price rises. Whenever a stock in our portfolio pulls back 25% from its closing high – or from our original entry point – we sell the stock at market. This
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Do you have a question about consumer credit? You may find an immediate answer by using the search engine. If you can’t find what you’re looking for, please fill out the form, being as specific as possible.
Please note: The Ask Experian team cannot respond to each question individually. However, if your question is of interest to a wide audience of consumers, the Experian team will include it in a future column.
I printed my and my husband’s credit reports. There are accounts that have been closed for years, but a note says they will remain on the report for years to come.
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Today we are publishing our first ebook give away. We listed down all the possible things a person want to know about a term plan and made ebook out of it. You can see the cover page of the Term insurance ebook here . Its a 19 page ebook with different term plan related points structured in a easy to understand language. Any one who wants to know about term insurance plan in detail can download this free ebook and read it.
You can also give this free term plan e-book to your Spouse who is not on this blog or to those friends and office colleagues who are not ready to go online to read about term plans . This ebook focuses only on term plans and has been written using very simple language.
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How to Travel on a Budget
Many people who dream of traveling around the world are content to simply live vicariously through the journeys of others because they believe a world tour would be prohibitively expensive. Traveling does come with its own share of expenses- lodging, food, transport etc, but there is no reason why you cannot do all of these within your means and still visit your dream locations.
By planning and researching options through discussions with other travelers who have recently visited the place, you can get an accurate idea of how to find good deals there.
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Parent company of American Airlines AMR Corp. filed for bankruptcy protection last Tuesday at the U.S. Bankruptcy Court for the Southern District of New York.
Since 2000, American Airlines has only ended the year with a profit once and since 2001, the airline has lost more than $11 billion.
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Company 401(k) plans are a great way for businesses to retain employees, but they can sometimes be confusing for small business owners. Before you decide to go with some out of the box option – or even worse, decide not to bother with one – read these helpful tips from ERISA attorney Ary Rosenbaum. 401(k) plans don’t need to be complicated. In fact, as Rosenbaum points out, simpler is typically better. For more on this, continue reading the following article from JD Supra. After I got my driver’s license, my very first car was a 1985 Oldsmbile Delta 88. The car had a powerful V8 engine, large plush bench seats, a tape deck radio that no longer worked, and a bumper that was an actual bumper and not a piece of plastic. W Read full post…