财务管理：理论与实践25show(编辑修改稿)

财务管理：理论与实践25show(编辑修改稿)内容摘要：

Interest and principal payments may be delayed without penalty until reanization plan is approved. (More...) 25 14 Copyright 169。 20xx Harcourt Inc. All rights reserved. Permits the firm to issue debtor in possession (DIP) financing. Gives debtor exclusive right to submit a proposed reanization plan for agreement from the parties involved. Reduces fraudulent conveyance problem. Cramdown if majority in each creditor class approve plan. 25 15 Copyright 169。 20xx Harcourt Inc. All rights reserved. New type of reanization Combines the advantages of both formal and informal reanizations. Avoids holdout problems Preserves creditors’ claims Favorable tax treatment. Agreement to plan obtained from creditors prior to filing for bankruptcy. Plan filed with bankruptcy petition. What is a prepackaged bankruptcy? 25 16 Copyright 169。 20xx Harcourt Inc. All rights reserved. Secured creditors. Trustee’s administrative costs. Expenses incurred after involuntary case begun but before trustee appointed. Wages due workers within 3 months prior to filing. List the priority of claims in a Chapter 7 liquidation. (More...) 25 17 Copyright 169。 20xx Harcourt Inc. All rights reserved. Unpaid contributions to employee benefit plans that should have been paid within 6 months prior to filing. Unsecured claims for customer deposits. Taxes due. Unfunded pension plan liabilities. General (unsecured) creditors. Preferred stockholders. Common stockholders. 25 18 Copyright 169。 20xx Harcourt Inc. All rights reserved. Liquidation Illustration Data (millions of $) Creditor Claims: Accounts payable $ Notes payable Accrued wages Federal taxes State and local taxes First mortgage Second mortgage Subordinated debentures* $ *Subordinated to notes payable. (More...) 25 19 Copyright 169。 20xx Harcourt Inc. All rights reserved. Proceeds from liquidation: From current assets $ From fixed assets* Total receipts $ * All fixed assets ple。