Bankruptcy administrator

From The Jolly Contrarian
Revision as of 18:13, 2 October 2024 by Amwelladmin (talk | contribs) (Amwelladmin moved page Insolvency administrator to Bankruptcy administrator)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search
The Jolly Contrarian’s Glossary
The snippy guide to financial services lingo.™
Your whole 25 year professional career boiled down, yesterday.
Index — Click the ᐅ to expand:
Tell me more
Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

The obsequious[1] fellow who comes in when all your employees are wandering around the plaza outside the office clutching Iron Mountain box full of gonks, tombstones, photos of pets, and out-of-date copies of that FT book about derivatives.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.

Likes

Does not like

  • Derivatives (in MENA jurisdictions)

See also

References

  1. He’s not really obsequious but it just seemed like the right word. It flowed. You know?