Bankruptcy Fraud

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    Case Study

    Borders Files Bankruptcy, Is Closing Up to 275 Stores By Tiffany Kary & Linda Sandler  Borders Group Inc., the second- biggest U.S. bookstore chain, filed for bankruptcy in New York today after management changes, job cuts and debt restructuring failed to make up for sagging book sales in the face of competition from amazon.com Inc and Wal-Mart Store Inc. Borders plans to keep operating and restructure with $505 million in so-called debtor-in-possession financing from lenders led by GE Capital

    Words: 837 - Pages: 4

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    Debt Restructure

    A restructuring of debt constitutes a Troubled Debt Restructuring if the creditor for economic or legal reasons, related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider (FASB ASC 470-60-15-5). That concession either stems from an agreement between the creditor and the debtor or is imposed by law or court (FASB ASC 470-60-15-6). In a Troubled Debt Restructuring, the creditor’s objective is to maximize recovery of its investment by granting

    Words: 3625 - Pages: 15

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    Malaysia Business Cases

    is psychological, saving is referred to the process of not spending money for current period in order to be used in future (Warneryd, 1999). According to the report of Malaysian Department of Insolvency, there are a total of 224,943 individual bankruptcy cases from 1990 to 2010, besides that, this number doesn’t seem to go down from year to year. This is not a good sign for a developing country such as Malaysia. Table 2.1 nomber of personal bankrupcy cases in Malaysis |year

    Words: 300 - Pages: 2

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    Interco

    Interco, Inc. “As the above methodology indicates, this Report was a substantial undertaking. It could not have been accomplished efficiently in the time provided without the cooperation of all involved, and the Examiner wishes to acknowledge such cooperation with gratitude. Many parties involved in the Recapitalization placed the examination process and purposes ahead of their personal interests and were forthcoming with information, even when it did not cast them in the best possible

    Words: 1083 - Pages: 5

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    Corporate Lae

    :Topic 1:Introduction and Regulatory Framework- Regulation can relate to two things: Regulate what an organisation can or must do (eg trade, pay tax, employ staff, pay debts), Regulate how an organisation functions (eg how it comes into being, how it is managed and operated and how and when it ceases to be). Why are corporations used (good and bad)? To allow for investment, To allow capitalism to flourish, To permit the sharing of risk, To permit investors to shelter from risk, To permit investors

    Words: 11028 - Pages: 45

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    Solution

    CHAPTER 5 COMPUTER FRAUD SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 5.1 Do you agree that the most effective way to obtain adequate system security is to rely on the integrity of company employees? Why or why not? Does this seem ironic? What should a company do to ensure the integrity of its employees? The statement is ironic because employees represent both the greatest control strength and the greatest control weakness. Honest, skilled employees are the most effective fraud deterrent. However

    Words: 8875 - Pages: 36

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    A Guide to Forensic Accounting Investigation

    A GUIDE TO FORENSIC ACCOUNTING INVESTIGATION THOMAS W. GOLDEN, STEVEN L. SKALAK, AND MONA M. CLAYTON JOHN WILEY & SONS, INC. A GUIDE TO FORENSIC ACCOUNTING INVESTIGATION THOMAS W. GOLDEN, STEVEN L. SKALAK, AND MONA M. CLAYTON JOHN WILEY & SONS, INC. This book is printed on acid-free paper. Copyright © 2006 by PricewaterhouseCoopers LLP. PricewaterhouseCoopers refers to the individual member firms of the worldwide PricewaterhouseCoopers organization. All rights reserved. Published

    Words: 246885 - Pages: 988

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    Bankruptcy

    BANKRUPTCY This article is intended to provide some general bankruptcy information and is certainly not intended to replace the tailored information a debtor will receive from an attorney. Bankruptcy is governed by Federal Law (Title 11 of the US Code separated into individual Chapters, each dealing with a different type of bankruptcy) but the bankruptcy laws of each state also play an important part; consequently, though there are bankruptcy kits, you will probably need a lawyer to successfully

    Words: 960 - Pages: 4

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    Bankruptcy Prediction the Case of Japanese

    Rev Account Stud (2009) 14:534–558 DOI 10.1007/s11142-008-9080-5 Bankruptcy prediction: the case of Japanese listed companies Ming Xu Æ Chu Zhang Published online: 26 July 2008 Ó Springer Science+Business Media, LLC 2008 Abstract This paper investigates if bankruptcy of Japanese listed companies can be predicted using data from 1992 to 2005. We find that the traditional measures, such as Altman’s (J Finance 23:589–609, 1968) Z-score, Ohlson’s (J Accounting Res 18:109–131, 1980) O-score and

    Words: 13066 - Pages: 53

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    Mediation

    A DEFENDANT’S MEDIATION STATEMENT Name: Institution: Date: Opening Statement for the Defendant (Mediation). 1. Parties attending the Mediation Case a. The plaintiff, Carmen L. b. The defendant, Juanita Solis. c. Ms close Jones, a key witness d. Mr. Dennis Watson, a key witness 2. Brief Summary of Facts The plaintiff and the defendant are sisters. The plaintiff was drinking whiskey and cola as she talked to the defendant. She spilled whiskey and slipped when she got

    Words: 659 - Pages: 3

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