Voluntary bankruptcy petition

Assignment Help Other Subject
Reference no: EM13291497

Finding itself in great financial difficulty, Fidelity Mortgage Investors filed a voluntary bankruptcy petition in a New York bankruptcy court. When the petition was filed, the automatic suspension went into effect. Ignoring the suspension, Camelia and Farnale, two of FMI’s creditors, filed suit against FMI in a Mississippi federal court. As a result, FMI was forced to pay out enormous sums of money in its own defense on the Mississippi case. FMI then returned to the bankruptcy court in New York and asked that both Camelia and Farnale be held in contempt of court for ignoring the suspension. Should the New York bankruptcy court hold Camelia and Farnale in contempt? Explain.

Reference no: EM13291497

Questions Cloud

Find and share example of nationally advertised product : Find and share an example of a nationally advertised product which utilizes puffery. Do you think this campaign utilizes what are arguably false statements of fact?
Obtained from a population with a standard deviation : A sample is obtained from a population with a standard deviation of 20. If the sample mean has a standard error of 5 points, then what is the sample size
Uniform laws like the ucita and the ueta necessary : Why are uniform laws like the UCITA and the UETA necessary? Does it make any difference if these uniform laws are not enacted in every state? How should the law be applied to a dispute arising from a deal that involves a party in a state in which the..
Draft an open and closed loop radar system : Draft an open and closed loop radar system that could be used by a polot to accurately and quickly detect enemy aircrafts
Voluntary bankruptcy petition : Finding itself in great financial difficulty, Fidelity Mortgage Investors filed a voluntary bankruptcy petition in a New York bankruptcy court. When the petition was filed, the automatic suspension went into effect. Ignoring the suspension, Camelia a..
Is money owed to the bank discharged by the petition : Dyana Landrin was convicted of grand larceny after she admitted she took nearly $19,000 from the Community Mutual Savings Bank while she was employed as a teller. The county court ordered her to pay restitution to the bank-that is to return the money
Crucible of technology-marketing strategy and politics : In late 2008 and early 2009, nearly unfathomable problems and challenges were emerging from a crucible of technology, marketing strategy, and politics.
Personally believe that ethics should play in business : What role(s) do you personally believe that "ethics" should play in a business setting AND Why? Which of the following is NOT one of the theories in Tort by which an injured plaintiff could seek recovery through litigation?
Identify primary sources of law-utilized in the litigation : Identify three forms of Discovery that can be utilized in the Litigation/Trial process. Laws passed by a legislative body are referred to as Identify two primary sources of law.

Reviews

Write a Review

 

Other Subject Questions & Answers

  Some events that occured during middle ages-music

Please list some important events that occured during the Middle Ages. Please tell me the difference between sacred music and secular music, and explain organum in your own words.

  Greed is good speech from wall street

In Gordon Gekko's "Greed is Good" speech from Wall Street, identify any remarks that make either of the two forms of Ethical Appeals from Aristotle's theory.

  Explain how music and culture influence one another

Explain how music and culture influence one another. Provide an example of a song or album that affected culture. Provide examples of songs with cultural references

  Societies-cultures and civilizations

Why do you think societies,cultures, and civilizations in Africa and the Americas are generally considered marginal to the greater flow of human history prior ot the modern era? What distinguishes them from the large empires of Eurasia?

  Natural environment of a bird in an artistic composition

If an artist wanted to emphasize the natural environment of a bird in an artistic composition, the use of which medium might be most appropriate?

  Honor teacher creativity and autonomy

The autonomy question How can we honor teacher creativity, autonomy, while simultaneously sharing purposes, curricula, and equitable resources?

  Mobilizing community partnerships

Mobilize Community Partnerships to recognize and Solve Health Problems, please help me explain in detail, the strengths of this standard in addition to one potential improvement as a result of this standard.

  Affirmative action case

What is the constitutional question? Is this a civil liberty or civil rights case, what were the judges looking at, and is this an affirmative action case?

  Counselors and psychologists

Are both counselors and psychologists allowed to administer the same types of assessments? What or who determines which assessments should be administered, and by whom?

  Process of completing a lesson plan

An explanatory paragragh explaining the process of completing a lesson plan and indicating what tools are the most helpful to teachers using Taskstream.

  Do you agree with wilson and natale's argument

What is the difference between quantitative and qualitative research? Why do Wilson and Natale challenge the concept that there is a clear distinction between the two types of research? What is their rationale for this challenge?

  Communication during active listening

do you frame at the start of the communication or at other points in time of the communication (for instance during active listening)? Also do you frame even if you are unaware of the concept of framing?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd