I'm writing this mail to get information on some of topics of bankruptcy proceeding. Would you answer my questions, please.
Even a brief answer, such as "yes", "no" will also be helpful. The questions are regarding to corporations.
Q1. What happens if a debtor has no asset? Does court automatically check whether a debtor has enough money to cover at least the expense of bankruptcy process?
What usually happens with insolvent companies without any asset?
Q2. Who pays the environmental fee? Does environmental fee belong to the administrative expenses class and have priority to be paid? Generally, how is the environmental fee (environmental damages) paid? What if a debtor has no asset to pay for environmental damages? What is the applicable law?
Q3. Does bankruptcy estate include collateral? Can collateral be used to pay environmental fee and claims belong to priority classes? Or, is collateral separated from the estate of bankruptcy and only a part of it left after secured creditors'payment may be used to cover other claims?
Q4. According to the American business tradition, who finances companies; banks, other entities or individuals? Who playes the major role in financing of corporations?
Thank you for your attention. I do appreciate your help.
Even a brief answer, such as "yes", "no" will also be helpful. The questions are regarding to corporations.
Q1. What happens if a debtor has no asset? Does court automatically check whether a debtor has enough money to cover at least the expense of bankruptcy process?
What usually happens with insolvent companies without any asset?
Q2. Who pays the environmental fee? Does environmental fee belong to the administrative expenses class and have priority to be paid? Generally, how is the environmental fee (environmental damages) paid? What if a debtor has no asset to pay for environmental damages? What is the applicable law?
Q3. Does bankruptcy estate include collateral? Can collateral be used to pay environmental fee and claims belong to priority classes? Or, is collateral separated from the estate of bankruptcy and only a part of it left after secured creditors'payment may be used to cover other claims?
Q4. According to the American business tradition, who finances companies; banks, other entities or individuals? Who playes the major role in financing of corporations?
Thank you for your attention. I do appreciate your help.
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