Restaurant funding – Fuze Restaurant And Lounge http://fuzerestaurantandlounge.com/ Tue, 20 Jul 2021 13:34:50 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://fuzerestaurantandlounge.com/wp-content/uploads/2021/06/icon-90.png Restaurant funding – Fuze Restaurant And Lounge http://fuzerestaurantandlounge.com/ 32 32 Bankrupt ČSA to resume flights to five destinations and increase connections https://fuzerestaurantandlounge.com/bankrupt-csa-to-resume-flights-to-five-destinations-and-increase-connections/ Thu, 24 Jun 2021 02:16:33 +0000 https://fuzerestaurantandlounge.com/bankrupt-csa-to-resume-flights-to-five-destinations-and-increase-connections/ National carrier Czech Airlines (ČSA) will resume flights to five destinations in the coming weeks and increase the frequency of flights to European destinations. ČSA will fly again to Odessa, Amsterdam, Copenhagen, Iceland and Malta, the company said in a statement on Tuesday. The company is in the process of being reorganized after filing for […]]]>

National carrier Czech Airlines (ČSA) will resume flights to five destinations in the coming weeks and increase the frequency of flights to European destinations. ČSA will fly again to Odessa, Amsterdam, Copenhagen, Iceland and Malta, the company said in a statement on Tuesday. The company is in the process of being reorganized after filing for bankruptcy in February.

Currently, ČSA offers regular flights to Paris (daily), Stockholm (three times a week), Kiev (daily) and Moscow (three times a week). In the coming weeks, these air links will be reinforced by additional links.

The company plans to renew its flights to five destinations, which have been temporarily suspended due to the coronavirus pandemic. From April 2, ČSA will resume its flights to Odessa (twice a week), then from April 16 to Amsterdam (daily), from May 1 to Copenhagen (daily) and to Iceland (four times per week). week). From June 12, airlines will also fly to Malta once a week. The carrier indicates that the gradual resumption of operations depends on the evolution of the epidemiological situation in the various countries and the gradual relaxation of travel restrictions.

ČSA now allows passengers to change their flight bookings free of charge until the end of June. The newly selected flight must take place no later than March 31, 2022. Passengers traveling with ČSA are required to produce a negative antigen or PCR test for the coronavirus before boarding.

ČSA is currently in bankruptcy, declared ex officio by a court. The company, which laid off most of its staff in February, has unpaid debts amounting to 1.8 billion crowns, owed to suppliers and passengers for canceled flights. The court appointed Inskol as insolvency administrator and isSA is currently undergoing reorganization.


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NRA bankruptcy case dismissed, leaving group to face trial in New York for financial abuse https://fuzerestaurantandlounge.com/nra-bankruptcy-case-dismissed-leaving-group-to-face-trial-in-new-york-for-financial-abuse/ Thu, 24 Jun 2021 02:16:31 +0000 https://fuzerestaurantandlounge.com/nra-bankruptcy-case-dismissed-leaving-group-to-face-trial-in-new-york-for-financial-abuse/ A federal judge on Tuesday dismissed the National Rifle Association bankruptcy case, leaving the powerful gun rights group to face a lawsuit in New York state that accuses it of financial abuse and aims to bankrupt it. The case revolved around whether the NRA should be allowed to incorporate in Texas instead of New York, […]]]>

A federal judge on Tuesday dismissed the National Rifle Association bankruptcy case, leaving the powerful gun rights group to face a lawsuit in New York state that accuses it of financial abuse and aims to bankrupt it.

The case revolved around whether the NRA should be allowed to incorporate in Texas instead of New York, where the state is suing in an attempt to disband the group. Although based in Virginia, the NRA was incorporated as a nonprofit in New York City in 1871 and is incorporated in the state.

Judge Harlin Hale said in a written order that he dismissed the case because he found the bankruptcy was not filed in good faith.

“The Court finds that the NRA’s goal in filing bankruptcy is less like a traditional bankruptcy case in which a debtor faces financial hardship or a judgment he cannot meet and more cases in which the courts have declared bankruptcy was filed to gain an unfair advantage in litigation or to avoid a regulatory scheme, ”Hale wrote.

His decision follows 11 days of testimony and arguments. Lawyers for New York and the former NRA advertising agency have grilled the group’s top executive Wayne LaPierre, who admitted to bankrupting the NRA in Chapter 11 without the knowledge or consent of the group. Most of its board of directors and other senior executives.

“Excluding so many people from the decision-making process to file for bankruptcy, including the vast majority of the board, the chief financial officer and the general counsel, is nothing short of shocking,” the judge added.

Phillip Journey, an NRA board member and Kansas judge who had requested that an examiner be appointed to investigate the group’s leadership, was concise about Hale’s judgment: “1 word, disappointed,” said he wrote in an SMS.

Lawyers for New York Attorney General Letitia James argued the case was an attempt by the NRA leadership to evade responsibility for using the group’s coffers as a personal piggy bank. But NRA lawyers said it was a legitimate effort to avoid a political attack from James, who is a Democrat.

LaPierre testified that he kept the bankruptcy largely a secret to avoid leaks from the group’s 76-member board of directors, which is divided in its support for him.

The NRA declared bankruptcy in January, five months after James’ office sought its disbandment over allegations that executives illegally embezzled tens of millions of dollars for lavish personal travel, non- presentation and other questionable expenses.

“The NRA cannot dictate whether and where it will answer for its actions, and our case will go to court in New York,” James tweeted after the ruin. “No one is above the law.”

James is the head of law enforcement in New York City and has regulatory authority over nonprofit organizations incorporated in the state. She sued the NRA last August, claiming at the time that “the extent and depth of corruption and illegality” at the NRA justified its shutdown. James took similar steps to force the shutdown of former President Donald Trump’s charitable foundation after allegedly using it to advance business and political interests.

Shannon Watts, who founded America’s Moms Demand Action for Gun Sense, said in a series of tweets that the bankruptcy dismissal “comes at the worst possible time for the NRA: just as the background check is debated in the Senate “.

“It will be costly, if not impossible for the NRA to effectively oppose gun safety and pressure lawmakers while simultaneously waging legal battles and growing debt,” said Watts, whose organization is part of Everytown for Gun Safety, supported by Michael Bloomberg.

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Oyo is no longer a start-up, has assets worth millions of dollars: Fhrai tells Nclat https://fuzerestaurantandlounge.com/oyo-is-no-longer-a-start-up-has-assets-worth-millions-of-dollars-fhrai-tells-nclat/ Thu, 24 Jun 2021 02:16:31 +0000 https://fuzerestaurantandlounge.com/oyo-is-no-longer-a-start-up-has-assets-worth-millions-of-dollars-fhrai-tells-nclat/ The Federation of Indian Hotel and Restaurant Associations (FHRAI) told the National Company Law Appeals Tribunal (NCLAT) on Wednesday that the Oyo hotel company had assets in excess of Rs 300 crore as of fiscal year 2019 and that it was no longer a startup. The company is currently battling claims of over Rs 200 […]]]>

The Federation of Indian Hotel and Restaurant Associations (FHRAI) told the National Company Law Appeals Tribunal (NCLAT) on Wednesday that the Oyo hotel company had assets in excess of Rs 300 crore as of fiscal year 2019 and that it was no longer a startup.

The company is currently battling claims of over Rs 200 crore filed by several hotel owners claiming to be operational creditors.

The comments from the FHRAI, which intervened in the insolvency case against Oyo, came after NCLAT Judge Anant Bijay Singh noted on Monday that the Insolvency and Bankruptcy Code of 2016 (IBC) needs a separate provision for startups that have no assets.

Oyo is not a startup more according to the definition of the Ministry of Commerce, since its income was above 100 crore rupees as of fiscal year 2019, ”said FHRAI lawyer Krishnendu Dutta.

He added that the company’s assets, including tangible and intangible, exceed Rs 300 crore.

According to documents from Tofler, Oyo’s parent company, Oravel Stays Pvt Ltd, had recorded consolidated operating income of Rs 6,430 crore in fiscal year 19. It had reported total assets of a value of Rs 6,430 crore. of nearly 1000 rupees, which included physical facilities and equipment of 293 crore rupees.

Oyo did not comment on the FHRAI’s statement in NCLAT.

Oyo’s lawyer, Mukul Rohatgi had questioned Monday on the role of the interveners in the affair, and had particularly attacked the FHRAI. “How can the Federation of Hotel and Restaurant Associations of India, which is an association of 1000 hotels, be an operational creditor? FHRAI is Oyo’s rival,” he said.

Rohatgi, who appeared for the Softbank-backed company, told NCLAT that most of the claims against Oyo are not credible.

“I am informed that of the alleged Rs 225 crore claims against Oyo by suspected operational creditors, the Insolvency Resolution Professional (IRP) has found at first glance only Rs 13 lakh“Rohatgi said.

However, the IRP has yet to reveal details of the total amount claimed by creditors. The IRP did not comment on the statements made by Oyo’s attorney.

Oyo settled the case with a Gurgaon-based hotel owner who initially dragged the company to NCLT for non-payment of Rs 16 lakh dues.

However, several other creditors have now intervened in the matter. This includes the Federation of Hotel and Restaurant Associations of India (FHRAI), which represents several hotels across the country.

NCLAT must now decide whether the claims of the intervening creditors should be allowed, given that the original party has requested the discontinuance.

The NCLAT judge previously commented on how an insolvency case can play out against a company that has no physical assets. “The IBC should consider separate provisions for startups and unicorns. Oyo is a startup but has no ownership. Even if there is liquidation, there will be nothing. There cannot be conventional solution for startups under IBC, “he noted.

The case has now been placed for orders in July.

(Edited by : Kanishka Sarkar)

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Property and rights not seized – Employment and HR https://fuzerestaurantandlounge.com/property-and-rights-not-seized-employment-and-hr/ Thu, 24 Jun 2021 02:16:31 +0000 https://fuzerestaurantandlounge.com/property-and-rights-not-seized-employment-and-hr/ To print this article, simply register or connect to Mondaq.com. According to the law of enforcement, it is possible to seize all the assets and rights of the debtor so that the creditor collects his claims. But in certain exceptional cases, all or part of the debtor’s assets cannot be subject to foreclosure. The executive […]]]>

To print this article, simply register or connect to Mondaq.com.

According to the law of enforcement, it is possible to seize all the assets and rights of the debtor so that the creditor collects his claims. But in certain exceptional cases, all or part of the debtor’s assets cannot be subject to foreclosure. The executive board has the power to determine which assets of the debtor will or will not be seized. In the last paragraph of article 82 of the law on forced execution and bankruptcy, the judicial officer is endowed with a discretionary power of non-seizure.

There are some exceptions to the discretion mentioned above. For example, with regard to real estate, a letter of seizure is sent to the land registry office by the bailiff with the request for seizure of the creditor and the debtor makes a request for exemption from seizure. The claim for exemption from seizure is 7 days from the date on which the debtor became aware of the seizure. We will also consider whether the debtor’s house can be foreclosed or not.

Unseizable property and rights are governed by Article 82 of the Execution and Bankruptcy Act (this issue was discussed under the title Exempt property and rights). In addition to these, in many special laws, property and rights that cannot be joined are stipulated. We will talk about this briefly below.

ALL GOODS AND UNFORCED RIGHTS

Property and rights which cannot be transferred to others in accordance with substantive law

The rights which are firmly attached to the person cannot be confiscated. If one should give an example of these rights, the right of the parents to usufruct over the property of the children, the right of the creditor to care until death are non-transferable rights and cannot be confiscated because the transmission cannot be confiscated. is not possible.

Government property

The assets of the public administration with general and private budgets cannot be confiscated because they do not come under private property.

All kinds of objects necessary for the debtor to continue his profession, whose economic activity is based on the work of his body

After the amendment of Law No. 6352 in 2012, it was regulated that all kinds of property necessary for the exercise of his profession by the debtor cannot be confiscated. For example, the tailor’s sewing machine cannot be confiscated. But the important point here is that capital does not prevent the body from working.

Items needed for family members living in the same household as the debtor

For family members living in the same house as the debtor, which is one of the most common considerations in daily life, necessary items cannot be confiscated. These items, such as seats, beds, refrigerators or ovens, cannot be confiscated. But; if there is more than one item used for the same purpose, other items except one may be confiscated. For example, if there are two refrigerators, one or if there are two televisions, one may be confiscated. We would like to stress again; money, valuable documents, gold, silver, precious stones, piano, stereo sound system, antiques or decorative items, such as items may be confiscated and are not included in the class of products required.

If the debtor is a farmer, the land and animals necessary for his subsistence and that of his family, as well as agricultural vehicles and tools, if the debtor is not a farmer, the tools necessary for art and the profession, books, objects which ensure the subsistence of a small specialist in transport, such as a coachman porter, can not be confiscated.

For example, finding a medicine cabinet so that a pharmacist can continue his profession is mandatory; foreclosure is not possible.

House adapted to the state of the debtor

As we mentioned at the beginning of the article, whether the borrower’s house can be foreclosed or how to follow the path if the borrower has more than one house is one of the most curious questions in our mind. everyday life. 82 of the Enforcement and Bankruptcy Code. Article 1. paragraph 12. In my opinion, the domicile of the debtor cannot be seized. But if the home’s value is excessive, an appropriate portion of that price can be seized by leaving it to the borrower.

As to the concept of a suitable house, the Supreme Court ruled that the debtor cannot live in a house larger than what is sufficient for him. To determine the appropriate accommodation for the debtor, the social situation of dependents living under the same roof as the debtor is studied. In this study, occupations, assets, monthly income of the debtor and his dependents, if they have any illnesses are examined. After this research, an expertise is carried out to determine the value of the house, and according to the result of the social situation survey, the value of the house suitable for what the borrower can obtain in more modest areas is determined. If the value of the borrower’s house is less than or equal to the value of the house suitable for purchasing a house in a more modest neighborhood, then the foreclosure complaint is accepted by the court and it is decided to abolish the foreclosure. But if the value of the debtor’s house is greater than the value of the appropriate house, then the court decides that the cost required by the borrower to purchase the appropriate house by selling the foreclosed property, and the increase is paid to the borrower. creditor as well as the sale is not less than the amount that the borrower can buy the appropriate home.

Another question is whether there is a right to seek foreclosure, which is called a residence complaint in practice, if there is more than one real estate. The Supreme Court is of the opinion that the presence of several goods does not prevent the debtor from filing a complaint against the residence, but it should be specified which of these goods files a complaint against the residence.

In order for the borrower to file a foreclosure complaint called a residence complaint, it is also not necessary to personally reside in that property. The rental of real estate also does not have obstacles to claiming housing.

The residence complaint can only be made by the debtor and the complaint must be filed with the Enforcement Court within 7 days from the date of receipt of the foreclosure.

In accordance with the law on enforcement and bankruptcy, the property and rights mentioned below cannot be confiscated;

  • An Ox or a dairy cow or three goats or sheep and their three-month feed cannot be confiscated if it is obligatory for the borrower and his family to come to an agreement.
  • If the debtor is a winegrower, a gardener or a producer of fruits and vegetables, the necessary vineyard or garden and the necessary tools cannot be seized for his subsistence and that of his family.
  • Pensions and certain salaries, allowances and bonuses awarded to disabled persons in the army and law enforcement agencies.
  • Salaries linked by a charitable fund or association in the event of illness or death
  • Money given or to be given as a lump sum or as income to the injured party as restitution or to their family.
  • Scholarships

OWNERSHIP AND RIGHTS PART OF WHICH WILL NOT BE SEIZED

Salary and salaries

Part of the borrower’s wages and salaries cannot be garnished. The amount to be confiscated cannot be less than a quarter. Although the Enforcement and Bankruptcy Law stipulates that the amount required by the Executive Directorate for the subsistence of the debtor and his family can be garnished after being issued, in practice a quarter of the wages and salaries are garnished.

By the Executive Directorate, the employer is informed in writing that a quarter of the borrower’s salary has been garnished and what is the amount of the borrower’s salary. It is credited to the general manager by deduction from the borrower’s salary by the employer. If not deposited by the employer, the amount of wages confiscated by the Executive Management is deducted from the employer according to IIK. If there is more than one lien on the salary, they must be placed in the queue.

Again, all bonuses and overtime charges paid to the borrower, as well as severance pay, notice pay and retirement benefits, are all items that can be forfeited.

Retirement pension

Pensions can also be partially reimbursed. According to the decisions of the Supreme Court, in order for the pension to be garnished, the consent of the debtor to the attachment of the pension is required. If there is no consent, the foreclosure request is rejected by the Executive Directorate. Again, the consent obtained before the completion of the enforcement proceedings is invalid. It is possible that more than a quarter of the pension will be forfeited if the consent given after the follow-up is completed. In alimony debts; it is possible to confiscate a quarter of the pension for the monthly operating alimony and everything for the accumulated alimony.

Some of the property and rights mentioned below cannot be confiscated;

  • In usufruct rights and income
  • Naf alimony without obligation

UNFORCED GOODS AND RIGHTS REGULATED BY SPECIAL LAWS

In addition to the non-seized property and rights governed by the executive bankruptcy law, it is regulated that the property and rights cannot be seized by certain special laws. We can briefly talk about some of them.

In accordance with Turkish Mining Law No. 3213;

40. equipment necessary for the operation of the mine, Shafts, galleries, quarries and machines, buildings, all kinds of transport vehicles used for the removal, cleaning and cleaning of above-ground and underground mines and installations for the smelting ore and mining tools for a year of supplies to be valued must be a lien on. But the mining license is not within this framework, but can be confiscated.

In accordance with Turkish Animal Welfare Law No. 5199

5 of the law. a house which is maintained in a house and garden without commercial purpose and the ornamental animals cannot be confiscated due to the debt of their owners.

In accordance with Law No. 6112 on the establishment and services of radio and television broadcasting;

34 of the law. in accordance with the article, the property of the Supreme Council falls under the financial power of the State and cannot be confiscated.

In accordance with the Law on Military Service No. 7179;

47 of the law. according to the article, those who have military service obligations, recruits, reserve officers and non-commissioned officers due to injury or death; widows and orphans of Oden claims will not be paid any tax except stamp duty and the deduction cannot be forfeited.

In accordance with Law No. 4632 on the Private Pension Savings and Investment System;

17 of the law. according to the article, the amount of savings corresponding to the multiplication of the amount of the minimum wage by the number of months of membership of the participant and the amount of annual income insurance contributions paid to retirees of the individual plan amount of salary minimum, excluding alimony, cannot be confiscated.

As briefly mentioned above, there are provisions in the Enforcement and Bankruptcy Act and in many special laws relating to unseized property and rights.

As a result, the legislator has included rules of impoverishment in many laws because of the protection of fundamental rights and freedoms and the maintenance of human living conditions.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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Sunland Park Mall owner files Chapter 11 bankruptcy reorganization https://fuzerestaurantandlounge.com/sunland-park-mall-owner-files-chapter-11-bankruptcy-reorganization/ Thu, 24 Jun 2021 02:16:31 +0000 https://fuzerestaurantandlounge.com/sunland-park-mall-owner-files-chapter-11-bankruptcy-reorganization/ It will be business as usual for now at Sunland Park Mall, El Paso’s second-largest mall, after the company that owns it filed for Chapter 11 bankruptcy protection on Sunday. The operations of the Ohio-based Washington Prime Group have been damaged by the fallout from the COVID-19 pandemic, according to a company statement. The mall, […]]]>

It will be business as usual for now at Sunland Park Mall, El Paso’s second-largest mall, after the company that owns it filed for Chapter 11 bankruptcy protection on Sunday.

The operations of the Ohio-based Washington Prime Group have been damaged by the fallout from the COVID-19 pandemic, according to a company statement.

The mall, located at Interstate 10 and Sunland Park Drive in West El Paso, was in trouble long before the pandemic after losing major retail tenants in recent years.

Company officials in a press release said operations will continue as usual at its 102 retail centers during the bankruptcy reorganization process.

It has secured $ 100 million in new funding for day-to-day operations, the company reported.

An aerial photo shows the Sunland Park shopping center in West El Paso.

“The COVID-19 pandemic has created significant challenges for many businesses, including Washington Prime Group, making a Chapter 11 filing necessary to reduce the company’s unpaid debt,” a company statement said.

The business will remain in business, but officials of a bankruptcy question-and-answer sheet have not ruled out selling the business in the future.

Its share price closed at $ 3.38 per share on Monday, down $ 1.46 per share on the New York Stock Exchange.

Sunland Park Mall is the second largest mall in El Paso.  It is located on Interstate 10 and Sunland Park Drive in West El Paso.

After: Washington Prime Group Mall Owner Files Chapter 11 Bankruptcy, Citing COVID Challenges

Customer traffic at the mall has dropped significantly in recent years after lost several major retail stores, including Macy’s, Sears and Forever 21. Last year, Cinemark closed its six-screen Movie Bistro.

Starr Western Wear of El Paso purchased the Macy’s Mall building and opened a store there in 2018.

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Amendments to the law on execution and bankruptcy: it is now possible to sell companies as a whole https://fuzerestaurantandlounge.com/amendments-to-the-law-on-execution-and-bankruptcy-it-is-now-possible-to-sell-companies-as-a-whole/ Thu, 24 Jun 2021 02:16:31 +0000 https://fuzerestaurantandlounge.com/amendments-to-the-law-on-execution-and-bankruptcy-it-is-now-possible-to-sell-companies-as-a-whole/ On June 19, 2021, Law No. 7327 amending the Enforcement and Bankruptcy Law and certain other laws [“Amendment Law”] was published in the Official Gazette and, as a result, significant changes were made to the law on enforcement and bankruptcy [“EBL”]. The purpose of this customer alert is to specify these modifications. Modification of article […]]]>

On June 19, 2021, Law No. 7327 amending the Enforcement and Bankruptcy Law and certain other laws [“Amendment Law”] was published in the Official Gazette and, as a result, significant changes were made to the law on enforcement and bankruptcy [“EBL”]. The purpose of this customer alert is to specify these modifications.

Modification of article 241 of the EBL entitled “Procedures for the realization of assets”

The modification of the 3 rd paragraph of article 241 of the EBL allowed the sale of the assets and rights integrated commercially and economically and of the companies owning these rights and assets as a whole, in the event that the sale as a whole would be more profitable. . In this regard, it aims to ensure the continuity of companies that are experiencing financial difficulties, especially during the Covid-19 pandemic. This provision also broadens the application of the notion of “commercial and economic integrity”, which was mainly regulated in the legislation relating to the Deposit Insurance Fund. [1] [Please see our article titled “Back on the Agenda: Concept of Commercial and Economic Integrity” for further information on this subject.]

Modification of article 308 of the EBL entitled “Failure to approve the composition and bankruptcy of the debtor”

Perhaps the most striking provision of the amending law is that which modifies the 4th paragraph of article 308 / c of the LBE. Pursuant to this amendment, the receivables taken back, including loans granted by credit institutions, on the authorization of the concordat commissioner after a temporary suspension decision, will be paid immediately after the pledged debts and before any other debts entered in the assets. of the bankrupt, including claims arising from labor law.

Modification of article 223 of the EBL entitled “Bankruptcy administration and the duties of the bankruptcy office”

The amending law amends section 223 of the LBE on the qualifications and procedures for selecting bankruptcy administrators who will participate in the administration of the bankruptcy. According to the relevant provision, the bankruptcy commissioners will be chosen from the list of bankruptcy commissioners established by the regional expert commissions. One of these selected agents must be a certified public accountant and another a lawyer. On the other hand, it is forbidden for a bankruptcy administrator to take charge of more than five files at a time.

Amendment to article 295 of the EBL entitled “Consequences of the final stay for pledge creditors”

The modification of article 295 of the EBL will make it possible to convert the pledged asset into cash according to the procedure provided for in the second paragraph of article 297, if it is not stipulated in the composition plan that the pledged asset will be used by the business, or if its value will decrease or if it will be expensive to keep. From the proceeds of the sale, the pledgee will be paid as much as the amount of the pledge. This amendment aims to prevent possible losses that the pledgee could suffer.

Modification of article 296 of the EBL entitled “Consequences of the definitive respite for contracts”

The amending law adds the sentence that the obligations arising from contracts which continue during the temporary and definitive respite will be mutually fulfilled in article 296 of the LBE. Consequently, the parties will have to fulfill their obligations under the agreements to which they are parties during the temporary and definitive respite. With the addition, the Legislator clearly demonstrated his desire to keep the contracts alive even in the event of a composition.

Modification of article 297 of the EBL entitled “Consequences of the final deadline for the debtor”

With the amending law, article 297 of the LBE has been amended and it is now compulsory for the court to obtain the consent of the commissioner of the composition and the chamber of creditors when it allows the debtor who has declared the composition to constitute a pledge, to be a surety, to make arrangements free of charge, to carry out operations such as the transfer and withholding of immovable or movable property which are important for the continuation of commercial operations after the decision of respite.

Modification of article 308 of the EBL entitled “Failure to approve the composition and bankruptcy of the debtor”

The amending law adds the following provision to article 308 of the LBE: “If the composition process results in bankruptcy, the court which issued the bankruptcy decision will decide that the liquidation will be carried out according to the simple or ordinary liquidation procedure. and that the ordinary court the liquidation will be carried out by the commissioners when necessary. In this case, the duties and powers of the bankruptcy administration will be exercised by the commissioners. ”.

Provisional Article 17 of the LBE

The following provisional article has been added to the EBL: “In accordance with the sixth paragraph of article 223, until the constitution of the list of bankruptcy commissioners, bankruptcy commissioners will be appointed on the list without consideration of the transfer procedure. In order to prevent a person from exercising the functions of an officer in more than five cases simultaneously, the appointed judicial officers are notified to the regional expert committee of the regional court of appeal to which the jurisdiction is attached. of execution. Pursuant to this provisional article, the procedures for appointing bankruptcy auditors were adopted until the constitution of the “list of bankruptcy auditors”, newly instituted in accordance with the aforementioned provision of the amending law amending article 223 of the BBL.

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NRA bankruptcy case denied, allowing New York dissolution case to proceed: NPR https://fuzerestaurantandlounge.com/nra-bankruptcy-case-denied-allowing-new-york-dissolution-case-to-proceed-npr/ Thu, 24 Jun 2021 02:16:31 +0000 https://fuzerestaurantandlounge.com/nra-bankruptcy-case-denied-allowing-new-york-dissolution-case-to-proceed-npr/ Wayne LaPierre, CEO of the National Rifle Association, at the group’s annual meeting in Dallas in May 2018. A secret figure, LaPierre makes few public appearances outside of carefully scripted speeches. Daniel Acker / Bloomberg via Getty Images hide caption toggle legend Daniel Acker / Bloomberg via Getty Images Wayne LaPierre, CEO of the National […]]]>

Wayne LaPierre, CEO of the National Rifle Association, at the group’s annual meeting in Dallas in May 2018. A secret figure, LaPierre makes few public appearances outside of carefully scripted speeches.

Daniel Acker / Bloomberg via Getty Images


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Daniel Acker / Bloomberg via Getty Images


Wayne LaPierre, CEO of the National Rifle Association, at the group’s annual meeting in Dallas in May 2018. A secret figure, LaPierre makes few public appearances outside of carefully scripted speeches.

Daniel Acker / Bloomberg via Getty Images

Updated 6:43 p.m. ET

A federal bankruptcy judge rejected an attempt by the National Rifle Association to declare bankruptcy on Tuesday, ruling that the gun rights group had not filed the case in good faith.

The decision slams the door on the NRA’s attempt to use bankruptcy laws to evade New York authorities seeking to dissolve the organization. In his ruling, the federal judge said that “the use of this bankruptcy case to resolve an enforcement problem” was not a permitted use of bankruptcy.

The bankruptcy lawsuit had put on hold other legal challenges the NRA had faced, but the move returns the group to its confrontation with the New York attorney general, who is seeking to shut it down over allegations of “fraud and fraud. abuse”.

“The @NRA cannot dictate whether and where it will answer for its actions, and our case will go to court in New York,” said the New York attorney general. Letitia James said in a tweet after the decision. “We have sued the NRA to end its fraud and abuse, and now we will continue our work to hold the organization accountable.”

During the trial, the NRA said it had enough money to pay its creditors. Instead, he declared bankruptcy for a tactical reason: to avoid the reach of the New York attorney general. Last year, the attorney general sought court approval to dissolve the NRA, alleging a wide variety of financial misconduct, mostly from the NRA’s top executive: CEO Wayne LaPierre.

In response to the judge’s dismissal, the NRA said it had taken steps to improve internal financial controls and would continue to pursue its gun rights mission.

“While we are disappointed with some aspects of the decision, there is no change in the general direction of our association, its programs or its advocacy for the Second Amendment,” LaPierre said in a statement. “We remain an independent organization that can chart its own course … The NRA will continue to fight, as we have for 150 years.”

The NRA had argued during the case that it was being persecuted for its political views. The group has asked a federal bankruptcy judge to put its other legal cases on hold and allow it to reorganize in Texas, where it may be out of the reach of the New York attorney general.

“In bankruptcy parlance, we have a predatory lender looking to seize our assets,” argued Greg Garman, a lawyer representing the NRA.

But the month-long trial had the side effect of making public details of the personal expenses of senior NRA officials. He also painted a picture of an organization in crisis, with some of the sharpest criticism coming from current and former insiders of the organization.

Testimonials included examples of the nonprofit organization’s tax-exempt funds used for wedding expenses, private jet travel, and exotic getaways. For example, LaPierre’s private travel consultant, who was paid $ 26,000 per month to take care of him personally, testified to how LaPierre asked him to change the travel bills of the private jets in order to hide their personal expenses. real destinations.

The lawsuit also provided rare insight into the behavior of LaPierre, who led the controversial organization for nearly 30 years. A secret figure, LaPierre makes few public appearances outside of carefully scripted speeches.

When questioned, he admitted to making annual trips to the Bahamas, where he would stay on a luxury yacht owned by an NRA vendor – a conflict of interest he did not disclose at the time. whose testimony and court proceedings have shown him to be in violation of NRA policy. . Instead, he justified the Caribbean trips to court as a necessary “safety retreat” for his safety and that of his family members.

LaPierre appeared to irritate the judge overseeing the case on several occasions by rambling, talking about his privileged conversations with his attorneys, and not answering questions directly.

“I’m about to say something that I’ve been saying for a day and a half now. Can you answer the questions that are asked? the judge asked LaPierre at one point. “Do you understand that I told you more than a dozen times in the last day?”

“Yes, sir, your honor. I’m sorry, I’m – I’m doing my best,” LaPierre replied.

The NRA claims it is financially sound, but investigations and litigation have hampered the group. Information provided during the trial indicated that in less than three years, the organization had spent $ 72 million on its main law firm alone. For context, the group made $ 291 million in revenue in 2019, the most recent year for which public records are available.

Since 2019, when infighting between NRA officials came to light with the dramatic resignation of then-president Oliver North, the NRA has gone from crisis to crisis. A number of NRA board members resigned in protest as allegations of management misconduct surfaced. The NRA severed its relationship with its main advertising agency, Ackerman McQueen, resulting in costly lawsuits and the spread of even more dirty laundry.

With the bankruptcy case dismissed, the NRA is now reverting to its previous vulnerable state: fighting for survival against a New York attorney general seeking to shut down the entire organization.

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This defense could save you from medical bankruptcy https://fuzerestaurantandlounge.com/this-defense-could-save-you-from-medical-bankruptcy/ Thu, 24 Jun 2021 02:16:30 +0000 https://fuzerestaurantandlounge.com/this-defense-could-save-you-from-medical-bankruptcy/ I asked the folks at Facebook to give me examples of wacky medical bills they received. Warning: this is not the kind of question you should ask if you have high blood pressure, otherwise you will end up in the hospital yourself. Among the worst charges were: Angiography: $ 157,000Only one blood transfusion for MS, […]]]>

I asked the folks at Facebook to give me examples of wacky medical bills they received. Warning: this is not the kind of question you should ask if you have high blood pressure, otherwise you will end up in the hospital yourself. Among the worst charges were:

Angiography: $ 157,000
Only one blood transfusion for MS, several of which are needed per year: $ 98,000
Three-day hospitalization: $ 80,000
A helicopter flight to a hospital for a child with a seizure: $ 50,000
Giving birth to a child (1.5 day stay, without NICU): $ 25,000
Giving birth to a child (by cesarean section with complications): $ 131,000
An emergency room visit that lasted less than an hour and resulted in a prescription for muscle relaxants: $ 2,500
Sheets used to cover a body en route from the hospital to the morgue: $ 600
A pair of socks: $ 70
A bottle of generic antacid tablets: $ 54

I can only read a number of them before I go blind with rage, but none surprises me. We are so used to being treated like cattle by the American health care system that horror stories hardly horrify. NPR even has a “Bill of the Month” segment full of stories that should confuse and infuriate anyone from any decent company. But here? They are only worth a few clicks. When the United States is remembered, I suspect it will not be affectionately, and the cruelty of our medical system will be taught as a quintessential example of an empire gone bad.

But what can we do if not accept the system as it is? The scale change we need must happen at the federal level, and Congress is forever stuck. There is little the president can (and won’t) do without Congressional approval, and federal courts are waiting with jaws open to skeletonize any attempt at progress. At the local level, it is almost impossible to organize effectively around this issue. What are we supposed to do, boycott medical care? Crowdfund of medical bills? These strategies are a bit like smoothing out all the wrinkles on your top sheet when there’s a pile of poop on your pillow. Is there a meaningful action we can take?

Yes! Well… maybe. We could use the state courts to make a little gash in the armor of the healthcare industrial complex. It’s long, but it could work.

Under the right circumstances, a contract can be declared unreasonable, meaning “so bad that even bad courts in a bad system designed for bad results cannot tolerate the meanness of it all”. A 2005 legal journal article hypothesized that the idea of ​​unfairness might apply to hospital billing:

“The primary factor… in finding hospital admission contracts procedurally unacceptable is that urgent medical services are a necessity and time is almost always of the essence. So even if a patient understands the terms of the hospital admission contract and decides that he does not want to accept them, he is not able to seek out another provider of urgent medical services. The patient must accept the conditions offered by the hospital because the patient needs the services.

The article goes on to explain that average hospital costs represented a 345% mark-up in hospital costs. According to the author, this is enough to push hospital bills into the realm of inequity, especially since the hospital has a gun to your temple as you sign all the admission forms and don’t not even say what they will charge you until you have to pay.

If a court were to agree that a bill is unreasonable, a provider could not successfully sue their patient for non-payment. So far, most litigation based on this theory seems to have failed. But I remain hopeful that an iniquity defense might be successful under the right circumstances. In 2007, the Arizona Court of Appeals rejected the argument in a case called Banner Health v. Medical Savings Ins. Co. Although the theory of inequity was a loser, a judge wrote a lengthy dissent, lambasting the hospital’s high markups and coercing patients. In a 2013 case called Via Christi Regional Medical Center, Inc. v. Reed, a trial judge actually ruled that a hospital’s billing practices were unreasonable, although the Kansas Supreme Court overturned the ruling. And a more recent California case indicates that a patient should at least be allowed to present evidence that a hospital’s prices were grossly unfair.

Although patients have lost, these cases mean that a handful of judges nationwide could be inclined to declare an outrageous medical bill unreasonable. All it takes is the right patient (the one who is crazy as hell and has nothing to lose), plus the right lawyer (the one who is willing to litigate, probably without getting paid), the right group of judges (those with a human heart in their chests instead of cold mechanical devices) and the right beak (really bad). It is a difficult recipe, but not impossible.

If you have a huge medical bill and are considering trying an unfair argument, know that it forces you to embark on an unpleasant journey. You will have to be sued for the bill and then challenge it in court, risking additional fees and costs. But the payoff could be huge. A win on the grounds of inequity could force providers to think twice before punishing people for the unforgivable crime of getting sick in America. •

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Mentor Responds After Great Lakes Mall Owner Filed For Bankruptcy https://fuzerestaurantandlounge.com/mentor-responds-after-great-lakes-mall-owner-filed-for-bankruptcy/ Thu, 24 Jun 2021 02:16:30 +0000 https://fuzerestaurantandlounge.com/mentor-responds-after-great-lakes-mall-owner-filed-for-bankruptcy/ Washington Prime Group, owner of the Great Lakes Mall, filed for bankruptcy this week, leaving many wondering what the future holds for the Mentor mainstay. MENTOR, Ohio – People are back in stores and states are set to get back to normal after the pandemic. However, businesses that have suffered over the past year are […]]]>

Washington Prime Group, owner of the Great Lakes Mall, filed for bankruptcy this week, leaving many wondering what the future holds for the Mentor mainstay.

MENTOR, Ohio – People are back in stores and states are set to get back to normal after the pandemic. However, businesses that have suffered over the past year are still suffering.

Just days ago, Washington Prime Group, the owners of the Great Lakes Mall in Mentor, filed for Chapter 11 bankruptcy, as many were forced to do. City officials said they had been warned ahead of the announcement.

RELATED: Great Lakes Mall Owner Files For Bankruptcy

“We were aware of this long before the announcement was made,” says Mentor City manager Kenneth Filipiak. “We’ve actually been in close contact with a lot of Washington Prime officials.”

Based on these conversations, Filipiak believes the Mall is here to stay, one of the iconic places under the Washington Prime umbrella.

“Some companies come and go, but the attraction to the mentoring market has remained. And it will continue because it’s a great environment to do business, ”he says.

In a statement to 3News, Washington Prime Group used the term “business as usual” to describe the status of Great Lakes Mall.

“It’s business as usual at the Great Lakes Mall. The COVID-19 pandemic has created significant challenges for many consumer-oriented businesses, including Washington Prime Group. The company has determined that the Chapter 11 route is the most effective next step in resolving the company’s outstanding debt as we emerge from the pandemic. Throughout the Chapter 11 financial restructuring, we expect business to continue as usual in our downtown areas, including Great Lakes Mall, where our tenants, sponsors and employees will continue to operate as normal, putting focus on providing enjoyable experiences to our customers.

The Mentor area has served as a hub for retailing in northern Ohio for years, posting an overall 92% occupancy rate for retail establishments, including the mall. That’s a number that hasn’t fluctuated much during the pandemic.

“Retail is not going anywhere. Certainly the pandemic has changed a lot of people’s habits. And it will take some time for them to come back,” Filipiak said.

By restructuring the company’s debt, the mall owner is hoping to stick around as this comeback continues. With any luck, Great Lakes Mall won’t end up on the block like other malls that have closed.

“They have a vested interest in not just maintaining it, but investing in it,” Filipiak said of Washington Prime Group, adding that the city was in talks with the company to add additional projects to the mall’s properties. So it is clear that they are thinking of growth, not closures.

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Jackie Shroff opens up on bankruptcy, reveals Tiger Shroff bought back home he lost due to financial problems https://fuzerestaurantandlounge.com/jackie-shroff-opens-up-on-bankruptcy-reveals-tiger-shroff-bought-back-home-he-lost-due-to-financial-problems/ Thu, 24 Jun 2021 02:16:30 +0000 https://fuzerestaurantandlounge.com/jackie-shroff-opens-up-on-bankruptcy-reveals-tiger-shroff-bought-back-home-he-lost-due-to-financial-problems/ Jackie Shroff, besides being a great actor, is also the proud father of his two children – actor Tiger Shroff and entrepreneur Krishna Shroff. In a recent interaction, the “Parinda” actor spoke about bankruptcy and how Tiger bought back the house he lost because of it. Jackie praised her son and revealed how he lost […]]]>

Jackie Shroff, besides being a great actor, is also the proud father of his two children – actor Tiger Shroff and entrepreneur Krishna Shroff. In a recent interaction, the “Parinda” actor spoke about bankruptcy and how Tiger bought back the house he lost because of it. Jackie praised her son and revealed how he lost his home due to financial issues.

Senior Shroff told Bollywood Bubble: “I knew we had tried something and lost something. If I had to pay for it I would pay. I had worked as much as I could and we paid everything back. world so that my of the family the name becomes clear. Business mein up down hota hi hai, yeh zaroori nahi hai ki hum hamesha upar hi rahenge. Kabhi upar niche hota hai, but you have to know how to keep your sanity and your ethics. “

Jackie then spoke to TIger saying, “I’m just proud of my two kids. They’re strong enough to get the house back; my wife didn’t want it back. She said, ‘Leave him, what’s gone is gone. “But his thought was kind, his thought was beautiful that he wants to make a home for his mother and his family. I think it’s in the genes. I’m lucky to have these two children who m ‘have always given happiness without asking for anything. They are sincere and direct and have no meanness to anyone. They are honest people. “

The ‘Happy New Year’ actor was last seen in Salman Khan star ‘Radhe: Your Most Wanted Bhai’ where Disha Patani played her onscreen sister.

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