Word: recoverable
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A SIPA trustee's job, not unlike a Chapter 7 trustee, is to recover property, assess claims and liquidate any other assets of a bankrupt firm for the benefit of the estate and its creditors. Consequently, Picard is using his authority to collect from customers who received preferences, non-existent...
Normally, Chapter 7 bankruptcy trustees personally receive 3% of anything over $1 million they recover for victims. In SIPA cases, however, the amount is not based strictly on a percentage of monies recovered since often there is no money remaining in accounts.
Coming off a historic campaign and its first-ever Ivy League championship in 2007-08, the Harvard women’s golf team looked to stay atop the Ancient Eight standings and advance among the ranks nationally in 2008-09. While the Crimson would have liked to end the season...
The "new normal" in housing is that home prices which have dropped 20% or more may drop further. Even under the best of circumstances, prices will not recover.
GM's bankruptcy, along with Chrysler's, will certainly help drive down the U.S. market share of the Big Three and open the door further to nimble and more well-funded competitors, including Toyota (TM), Honda (HMC), Nissan and Hyundai. It would be surprising if Detroit has only a 30...