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Definition of Best-interests-of-creditors test
The requirement that a claim holder voting against a plan of reorganization
A test used to determine the status of an employee under a state unemployment
Also called the quick ratio, the ratio of current assets minus inventories, accruals, and prepaid
A ratio that shows how well a company could pay its current debts using only its most liquid or “quick” assets. It’s a more pessimistic—but also realistic—measure of safety than the current ratio, because it ignores sluggish, hard-toliquidate current assets like inventory and notes receivable. Here’s the formula:
See quick ratio
The sum of cash, accounts receivable, and short-term marketable
A bond indenture restriction that permits additional borrowing on if the ratio of assets to
A method of securities distribution/ underwriting in which the securities firm agrees to sell
Purchases of goods or services from suppliers on credit to whom the debt is not yet paid. Or a
A set of requirements for a plan of reorganization to be approved by the bankruptcy court.
This clause in regular life insurance policy provides for voiding the contract of insurance for up to two years from the date of issue of the coverage if the life insured has failed to disclose important information or if there has been a misrepresentation of a material fact which would have prevented the coverage from being issued in the first place. After the end of two years from issue, a misrepresentation of smoking habits or age can still void or change the policy.
A debt limitation that prohibits the issuance of additional long-term debt if the issuer's
This means dying without a will, in which case the provincial laws of the province in which the death occurred apply to the manner in which assets will be distributed. In other words, if you don't write your own will, the government will do it for you after your death and it may not be as you would have wished.
An accounting method for reporting acquisitions accomplished through the use of equity.
An method for accounting for a business combination. When used, the expenses of the combination are charged against income at once, and the net
A battle for the control of a firm in which the dissident group seeks, from the firm's other
Takeover attempt in which outsiders compete with management for shareholders’ votes. Also called proxy fight.
SEC-imposed restrictions on when a short sale may be executed, intended to prevent investors
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