...MGM Advertising & Communications Services, Inc. Address: Ste. 1203 Galleria Corporate Center EDSA cor Ortigas Ave. Quezon City Manila Contact: Tere de Jesus - Garcia Email: Company description: MGM is a full service communications company that provides advertising, public relations, event planning & management, market research and other communications services to broad range of clients. Clients include Honda, Cathay Land, National Bookstore, Seaoil, JVC, Heinz, Lea & Perrins, Bridgestone. Dean Owen has been changing his business cards to say “President” for years now, so we thought we might as well make it official. MGM attempted to establish a new life for itself from the mid-1990s as a "mini-major" studio, operating more or less independently, but latterly with the financial and operational support of part-owners Sony Pictures and Comcast. That followed a long period of steady decline. In its golden age, MGM was the undisputed giant of the movie industry, with such hits as Gone With The Wind and Wizard of Oz. But the studio fell from grace in the 1950s before being gradually carved up by corporate raiders. In 1996, MGM bought back its independence and restored some of its lost glory. But it remained the smallest of the movie majors, heavily reliant on its back-catalogue and the periodic resurrection of its James Bond franchise. The company went into play in 2004, and was eventually acquired by a consortium of investors. However, this strategy also...
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...Ocean’s Eleven WHO Ocean and his team | Danny Ocean | Planner of robbing casinos | Rusty Ryan | friend of Ocean, adviser of plan | Frank Catton | a casino worker and con man | Reuben Tishkoff | finance the operation | Livingston Dell | An electronics and surveillance expert | Saul Bloom | An elderly con man | Linus Caldwell | A young and talented pickpocket | Basher Tarr | An explosives expert | Virgil | Mechanics | Turk Malloy | Mechanics | Yen | An accomplished acrobat | Terry Benedict – owns all the three casinos (Bellagio, The Mirage, and the MGM Grand) Tess – Ocean’s ex-wife, Benedict’s girlfriend WHAT Ocean and his team are going to rob the Bellagio, The Mirage, and the MGM Grand casinos which own by Terry Benedict. Where The vault at the Bellagio, where the money of casinos from The Bellagio, The Mirage, and the MGM Grand casinos will end up here. When On a weekend, the money inside the vault at the Bellagio would more than any weekday. Especially on the fight night, the money in will be at least $150 million. So they planned to take action on the fight night. WHY Their motives of robbing the casinos are different among them. It’s included, love, hatred for the owner of casinos, money, boring to their life, off the job for long period. HOW Several of the team members carry out reconnaissance at the Bellagio to learn as much as possible about the security, the routines and behaviors of the casino staff, and the building itself. Others...
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...Industry Leader Stephen Wynn Steve Wynn is an amazing casino mogul and is also one of the largest investor in Las Vegas his is the 512 richest person in the world today according to Forbes magazine. Stephen Wynn has been in the hospitality industry pretty much all his life because he was born into it. Wynn was born in New Haven Connecticut and his family owned bingo parlors through the eastern part of the United States. His last names was not originally Wynn it was actually Weinberg but his family changed it back in 1946 to avoid discrimination because they were Jewish; Stephen was six years old at the time. Wynn and his family moved to New York where he attended The Manlius School; which is a private all boys’ school then in 1959 he studied cultural anthropology and English literature at the University of Pennsylvania. When his father passed he left Wynn with $350,000 in gaming debt, so he took over the family’s bingo businesses. He became quite successful running the family business and this success allowed him to move into bigger business ventures. Wynn invested in the Frontier Hotel and Casino in Las Vegas in 1961 and moved there with his wife Elaine. Wynn also had another company while he invested in Las Vegas, which was that he owned and operated a wine and liquor importing company. He was making good money and had enough profit and connections in his life that in 1971 he managed to strike a deal with the likes of Howard Hughes and it involved him controlling the interest...
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...transferred to KCB and then to third parties. The plaintiff's claims against the second, third and fourth defendants have previously been withdrawn. Plaintiff claimed against the first defendant for damages for breach of fiduciary duty as a director of the plaintiff's company. The trial of the case began on 21 March 2005. While the present case of trial still ongoing, Plaintiff applied to obtain a leave of Bankruptcy to proceed against the first defendant pursuant to Bankruptcy Act 1967 on 23 January 2007 who had hear adjudged as bankrupt on 11 July 2005.The case call up for continued hearing on 30 March 2007. The first defendant counsel inform the court that he had applied to the Director General of Insolvency for sanction pursuant to s 38(1)(a) of the Bankruptcy Act to defend the action and to retain Messrs David Lingam & Co as his solicitors and Mr. David Lingam as his counsel. On 13 September 2007, Encik Zahari who represented the Director General of Insolvency and Encik Sadacharam Raman as amicus curiae applied for an adjournment for sanction pursuant to s 38(1)(a) of the Bankruptcy Act due to proper application for sanction was submitted late by first defendant. Secondly, the first defendant was unwell to attend court. The plaintiff learned counsel, Cik Tricia Mallika Appaduray, opposed the application for adjournment and directed the trial to proceed, however the trial as concluded and issued directions for the filing and serving...
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...rights to assure the securities’ transferability and rapid judicial resolution of claims for nonpayment.2 To further attenuate risk, investors insisted on foreign laws to govern substantive terms of the securities. By the late 1990s, as various Argentine issuers began defaulting on their obligations, these bondholder rights and protections were tested. It soon became apparent that bondholders were far more vulnerable than originally thought. Highly-publicized reorganization proceedings undertaken by Argentine bond issuers, including In re Central Términal Güemes S.A.3 and In re Supercanal S.A.4, illustrated procedural difficulties encountered by bondholders. Investors found themselves hampered in having their claims admitted by Argentine bankruptcy courts and in being represented as a group by a bondholder trustee or fiscal agent. No case, however, better illustrates the great divide between the expectations of foreign creditors and the outcome of an Argentine insolvency proceeding than In re Sociedad Comercial del Plata S.A.5 Of Counsel, Negri & Tejeiro Abogados (Buenos Aires, Argentina). The author wishes to give special thanks to Dr. Alejandro Breit for his invaluable help and patience in reviewing this article and to Stephanie de Moerloose for her comments and help with the more tedious tasks. This publication has been prepared solely for educational purposes. It provides general information and should not be used or taken as specific legal advice. For further information...
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...What is Enron? Until its decline into bankruptcy in 2001, Enron was the United States’ seventh-largest corporation. Enron grew from a natural gas pipeline company into a trading and marketing giant, moving first into the business of acting as a broker between energy suppliers and buyers, then expanding its role as a broker of non-energy transactions, and later adding a variety of diverse investments to its portfolio. Enron was a leading advocate of restructuring energy markets in the United States and the largest player in the energy trading business. What led to Enron’s collapse? The company’s most recent troubles can be traced to revelations in October 2001 of massive amounts of unreported debt and steep losses incurred in non-energy and oversees energy partnerships established between Enron and other companies. In accounting arrangements now under investigation by the Securities and Exchange Commission, Enron for several years had kept the debt and losses off its balance sheet. When these losses and the level of debt became known, the marketplace lost confidence in Enron; shareholders sold the stock and credit agencies slashed the company’s credit ratings. In addition, domestic trading partners required increasing amounts of collateral due to Enron’s impaired credit-worthiness. This drained Enron’s cash reserves, forcing them to take on more debt, creating a death spiral. By the end of November 2001, credit agencies had downgraded Enron’s debt to “junk”...
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...Adelphia Communications’ Bankruptcy Bankruptcy The case talks about the situation Adelphia went through after the governance problem and fraud they had that led them to bankruptcy. Adelphia being a family owned company; by April 2005 they decided to sell out the remaining assets of the company to the one of the other 3 big cable companies; Time Warner, Comcast and Cablevision; each one of them offered different amount in the bid, nevertheless the company had to analyze how certain each offers were, how probable was any of them to pull out the offers as well as what to do with the money they would get in case the judge let them do the sell. Family Control Adelphia was founded and managed by Rigas family, the case talks about how the company after 1985 decided to go public in order to acquire the capital investment to expand and become one of the biggest cable providers in the country. Nevertheless the Rigas family managed to keep almost full control of the company by keeping special type stocks with decision making power in the board. The company kept being managed by the funding family as well as the family keeping some of the cable assets for themselves in separate private partnerships and continuing to buy properties privately as well as for the company. The case explains how the privately owned assets of the family were managed by already-public Adelphia Corp by some management agreements and with this the expenses of such assets were consolidated with the expenses...
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...INTEROFFICE MEMORANDUM OF LAW To: Maria Thomas-Jones From: Charsalynn GerSan Mitchell Date: Case: In the Matter of the Marriage of Pastran Office File Number: 01.0925031 Docket Number: Cause No. DF-09-21848 RE: The pending bankruptcy matter as it relates to the finalization of Mrs. Pastran’s divorce. ______________________________________________________________________________ STATEMENT OF ASSIGMENT I have been asked to prepare a memorandum of law discussing how Mrs. Pastran’s bankruptcy issues will, if at all, affect the property division in her pending divorce matter. QUESTION PRESENTED Whether the family court can effect a just and right division of the community estate of Mr. and Mrs. Pastran which includes the marital residence, given that Mrs. Pastran is currently involved in a Chapter 13 Bankruptcy matter and the marital residence is included in the bankruptcy estate? FACTS Mr. and Mrs. Pastran were married in ______ 200X. In December 2003, Mrs. Pastran purchased the marital residence at 309 Shelly Circle in Irving, Texas 75060. In October 2006, Mrs. Pastran filed a Chapter 13 Bankruptcy petition and the marital residence was included in her bankruptcy estate. On December 2009, Mrs. Pastran filed for divorce in the Dallas Family Court under Cause No. DF-09-21848. Now there is a final trial pending in the divorce matter and the marital residence is apart of the community property estate of the parties. BRIEF ANSWER Yes. The...
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...Chapter 11 bankruptcy allows a business to remain in operation while reorganizing its structure and debt. According to the Fried Law Firm, unlike a chapter 7 bankruptcy, which requires total liquidation and a cease in business activities, the company can continue normal operations. In addition, the company in all likelihood will be able to continue paying employee salaries, pensions, and health benefits. Chapter 7 bankruptcy is sometimes also called liquidation bankruptcy. Firms experiencing this form of bankruptcy are past the stage of reorganization and must sell off any un-exempt assets to pay creditors. In chapter 7, the creditors collect their debts according to how they loaned out the money to the firm .A trustee is appointed who ensures that any assets that are secured are sold and that the proceeds are paid to the specific creditors. Chapter 11 is much more involved than Chapter 7 bankruptcy as it enables the firm to reorganize its debt and to try to re-emerge as a healthy organization. An advantage of Chapter 11, if one is able to meet all of the statutory requirements, is that there is no set limit on a plan's duration. Chapter 11 plans often provide for debtors to make payments to creditors over a period of three to five years. The bankruptcy court can confirm a Chapter 11 plan with a longer term, however, if one requires more time to make required payments. A typical Chapter 7 bankruptcy case is opened and closed within three to six months, and the person filing...
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...Insolvency Proceeding in Nepal – A case of Nepal Development Bank (NDB) The day when court orders for liquidation of a company, it is the most miserable day for it. But such a harsh decision is taken only after deep investigation of the case. All the possible methods are adopted to protect the company before the decision of dissolution is taken. Like in other countries, Nepal’s Insolvency Act 2006 also emphasizes to protect the company from liquidation. We have taken a real liquidation case of Nepal Development Bank (NDB) as an example to correlate with Insolvency Act 2006. NDB was a Class – B banking institution under the regularization of central bank – Nepal Rastra Bank (NRB). During the early years of establishment itself, NDB was trapped into a severe financial crisis. Being a regularizing body, NRB stepped in to rescue NDB but was unsuccessful. Finally, NRB decided liquidation of NDB. Generally practiced steps related to the insolvency are provided below and major proceedings held in case of NDB are linked with them as follows. 1. Administration When a company is trapped into financial trouble, either it voluntarily tightens its administration or the regulating body gets hold of it. This is first and most safe step to protect a company from dissolution or liquidation. The major objective behind holding the administration is to rescue the company from financial difficulties. In case of NDB, NRB took over its administration and try to rescue and revive for five years...
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...000+10,000) (60,000+7,000+2,200) (70,000+10,000+6,000) STCL -$5,000 $2,000 $2,000 -$2,000 (9000-4000) (5000-3000) (7000-5000) (12000-10000) LTCL $1,000 -$11,000 $1,200 -3,500 (6000-5000) (21000-10000) (2200-1000) (9500-6000) 5-50) Michigan should lower the cost in order to offset the losses. By them bankrupt they don’t have anything that is worthy of someone purchasing. In turn, they can gift each business to another person or company in order to get rid of them and not have anything else to do with the losses. They are giving them the extra raw materials as well. In turn, the new parties can turn the businesses around and hopefully allow the businesses to make money. They still have to deal with the bankruptcy, so they can keep what stock they have and once the businesses turn around they can conclude what’s due, if anything due to the...
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...Bankruptcy prediction From Wikipedia, the free encyclopedia This article is an orphan, as few or no other articles link to it. Please introduce links to this page from related articles; suggestions may be available. (December 2009) Bankruptcy prediction is the art of predicting bankruptcy and various measures of financial distress of public firms. It is a vast area of finance and accounting research. The importance of the area is due in part to the relevance for creditors and investors in evaluating the likelihood that a firm may go bankrupt. The quantity of research is also a function of the availability of data: for public firms which went bankrupt or did not, numerous accounting ratios that might indicate danger can be calculated, and numerous other potential explanatory variables are also available. Consequently, the area is well-suited for testing of increasingly sophisticated, data-intensive forecasting approaches. Contents [hide] 1 History 2 Modern methods 3 References 4 External links [edit]History The history of bankruptcy prediction includes application of numerous statistical tools which gradually became available, and involves deepening appreciation of various pitfalls in early analyses. Interestingly, research is still published that suffers pitfalls that have been understood for many years. Bankruptcy prediction has been a subject of formal analysis since at least 1932, when FitzPatrick published a study of 20 pairs of firms, one failed and one...
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...Story of the firm To start the story of the firm I am going to talk about how opening a new firm is like an investment. It is like an investment because you invest in assets in this case it would be a new firm, the assets or firm come with a risk that it might not pan out, but if it works you receive the revenue which leads to profits after you cover your expenses and that leads to your return, which you can return to the business in retained earnings or pay out dividends to your shareholders. But there is an opportunity cost in this because if your business doesn’t work out you lose that money and you could have invested it in another company something that could have made you money. The opportunity cost is the next best option to the one you actually chose. It would be if you invest in your own company or you could put your money in an oil company. If your company doesn’t work out the opportunity cost would be investing in the oil company that could have been very successful and you lost that opportunity to invest in that. So you are taking contributed capital, which is your money you are putting into the company and take loans from banks to start up your business along with selling you stock to investors who will pay you to buy the stock then the business will pay the stockholder interest through out the period and the whole loan back eventually, which would be a amortized loan. Compared to an interest only loan and a discount loan. Taking the loans from the banks would be...
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...1-Dictionary defines bankruptcy as legally declared insolvency, or inability to pay creditors 2- Some people say that a company is called bankrupt if they failed to pay their loans on time; I say that if a company has assets then they should not be considered bankrupt since they can sell these assets and pay the people back. 3- there are some criteria in order to be called bankrupt Your income should be less than or equal to a certain amount You should not have applied for bankruptcy in the past 180 days. Clear Channel Communications Dictionary defines bankruptcy as legally declared insolvency, or inability to pay creditors, and the term bankrupt is derived from the Italian banca rotta, which means broken bank. There are two kinds of bankruptcy: One when the company itself or the individual declares it which is called voluntary bankruptcy, and one when creditors file a bankruptcy petition against a debtor which is called “involuntary bankruptcy”. Facts and Tools Question 1 A Question 4 A. Cyclical B. Structural C. Frictional Question 6 Insider who have jobs so they can have rights and making it harder for the company to fire them Thinking and problem solving Question 1 A) Rise B) Fall C) Fall D) Rise E) Stay the same Question 2 Net job creation= 5.25-5= 0.25 Total job destruction/net job creation= 5/0.25=20 So for each 20 job destructed one job are created Question 8 Of course the economist is right because he is an economist. The U.S government...
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...Bankruptcy Assignment Warren and Westbrook, The Law of Debtors and Creditors Sara Israelyan Spring Semester 2011 University of Minnesota Law School March, 2011 Warren and Westbrook, The Law of Debtors and Creditors Problems 8.1 Absent bankruptcy, what can Harv and Lois protect as the creditors begin to move in? What if they filed a Chapter 7? What could they protect if they lived in Cheyenne, Wyoming? When considering bankruptcy, pre-bankruptcy planning is one of the most important steps for Harv and Lois. In a Chapter 7 bankruptcy, the TIB will take all non-exempt valuable property that he can sell to distribute the money to the creditors. The main idea behind the Chapter 7 bankruptcy is ‘liquidation’. However, Harv and Lois can arrange their property and debt before filing for Chapter 7 bankruptcy, in order to maximize their exemptions. Generally, during a pre-bankruptcy planning, the debtor converts some of its non-exempt assets to exempts ones to save the property for creditors. In this case, usually the debtor sells or borrows against non-exempt property in order to buy exempt property. This right to maximize the exemptions however is not unlimited. After filing bankruptcy, all of Harv’s and Lois’s property, both real and personal, becomes a part of the bankruptcy estate. However, under the Bankruptcy Code, they are allowed to exclude certain property deemed necessary for everyday life and sustain a reasonable fresh start after discharge. Harv and Lois...
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