Insert Value Choice in the Bankruptcy Agreement and eSign it in minutes

Aug 6th, 2022
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How to Insert Value Choice in the Bankruptcy Agreement

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hello and welcome to the session this is Professor Farhad and this session were going to be looking at contractual agreement thus topic is stubborn an advanced accounting course this topic is a introductory for reorganization in liquidation for chapter 7 and chapter 11 the topic is covered on the Iraq exam CPA wreck and some how its covered when it comes to journal entries on the for exam as always I would like you to connect with me only then if you dont have a LinkedIn account make sure you create one its very important for your professional image YouTube is where you would need to subscribe I have over 1500 lessons accounting tax orbit make sure you take advantage of those that are available on YouTube if you like my youtube please like them share them put them in the playlist let the world know about them this is my website as well I have an Instagram account please follow me on Instagram and this is my Facebook page so lets talk about contract contractual agreement and one th

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An IVA typically lasts five years however the arrangement could be extended by 12 months if you have a property and you are unable to release your share of equity for the benefit of your creditors. Essentially, in bankruptcy you will risk any property or assets but it will be a quicker solution than an IVA.
A transaction is considered undervalued under section 45(2) of the IBC if the corporate debtor makes a gift to a person or enters into a transaction with a person that involves the corporate debtor in transferring one or more assets for a consideration that is docHubly less than the value of the consideration
Hence, we have the following bankruptcy types: Chapter 7 (liquidation), Chapter 9 (adjustment of debts of a municipality), Chapter 11 (reorganization), Chapter 12 (adjustment of debts of a family farmer or fisherman with regular annual income), Chapter 13 (adjustment of debts of an individual with regular income) and
Transactions at undervalue can include: Assets that are gifted to someone connected to the business perhaps a family member or another director where no payment is made in return. Assets gifted/transferred to an independent third party, again with no consideration being received by the company.
Undervalue And Preference Claims A transaction at undervalue is where an asset of a business faced with the prospect of insolvency is disposed of for less than market value.
Any transaction made by a company which is insolvent (either in Liquidation or Administration), or any transaction which occurred within 2 years prior to the companys insolvency, could potentially be challenged by the Liquidator or Administrator. These are commonly known as antecedent transactions.

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