Bankruptcy administrator: Difference between revisions
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{{a|g| | {{a|g|{{image|Ironmountainbox|jpg|Your whole 25 year professional career boiled down, yesterday.}}}}The obsequious<ref>He’s not ''really'' obsequious but it just seemed like the right word. It flowed. You know?</ref> fellow who comes in when all your employees are wandering around the plaza outside the office clutching an [[Iron Mountain]] box full of gonks, [[tombstone]]s, photos of pets, and out-of-date copies of that shitty [[FT book about derivatives]]. | ||
The obsequious<ref>He’s not really obsequious but it just seemed like the right word. It flowed. You know?</ref> fellow who comes in when all your employees are wandering around the plaza outside the office clutching an [[Iron Mountain]] box full of gonks, [[tombstone]]s, photos of pets, and out-of-date copies of that shitty [[FT book about derivatives]]. | |||
His, or her, job is to sort out all your [[contract|contracts]], close out the [[derivatives]] ([[cherry-pick]]ing your valuable [[in-the-money]] trades where possible of course!), liquidate all your assets and distribute the proceeds the line of creditors presently queuing around the block. | His, or her, job is to sort out all your [[contract|contracts]], close out the [[derivatives]] ([[cherry-pick]]ing your valuable [[in-the-money]] trades where possible of course!), liquidate all your assets and distribute the proceeds the line of creditors presently queuing around the block. | ||
It sounds easy but there is a lot of devil in the detail. | It sounds easy but there is a lot of devil in the detail. | ||
{{Sa}} | |||
*[[Insolvency]] | |||
*[[Voidable preference]] | |||
*[[Cherry-picker]] | |||
{{ref}} | {{ref}} | ||
Revision as of 11:02, 26 February 2024
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The obsequious[1] fellow who comes in when all your employees are wandering around the plaza outside the office clutching an Iron Mountain box full of gonks, tombstones, photos of pets, and out-of-date copies of that shitty FT book about derivatives.
His, or her, job is to sort out all your contracts, close out the derivatives (cherry-picking your valuable in-the-money trades where possible of course!), liquidate all your assets and distribute the proceeds the line of creditors presently queuing around the block.
It sounds easy but there is a lot of devil in the detail.
See also
References
- ↑ He’s not really obsequious but it just seemed like the right word. It flowed. You know?