Isn't it amazing how some folks are just above reproach and indictment?

I am speaking of the Clintons of course.

And that covers over 500 companies?

if you watched RNC two of his biz partners spoke

Thomas J. Barrack Jr. spoke glowingly about the Republican presidential nominee last week in Cleveland.

A California private-equity executive and founder of Colony Capital who has known the candidate for 35 years, Barrack praised Trump’s leadership and perseverance and told stories about real estate development deals they have done together.

he has partners and shareholders but as privately held corp as no requirement to disclose.

And at this point what difference does it make,

Originally Posted by Guest

it's purpose is to save companies by giving them a fresh start and saving jobs and business by restructuring their debts.

It also allows banks to lend money taking a higher priority in being paid back.

All payroll & taxes are paid in full.

It take more work on the part of the business to do a chapter 11 then simply walking away paying no one anything.


It is also expensive in the legal fees.


.


Many big name corps has used this law

SO true but I don't quite think the people of Atlantic City would be so forgiving, a lot of them were out of jobs and money. Trump found it hard to borrow after all that trouble with the casinos, look it up. The trouble with some of his supporters is they are enamored with the talk of a billionaire the big question is, is he really?

Originally Posted by Guest

SO true but I don't quite think the people of Atlantic City would be so forgiving, a lot of them were out of jobs and money. Trump found it hard to borrow after all that trouble with the casinos, look it up. The trouble with some of his supporters is they are enamored with the talk of a billionaire the big question is, is he really?

Wow, this is terrible! On a scale of one to ten with Hillary being a TEN (bad), how would Trump weigh on it? I'd give his exploits a minus five in comparison. Am I being too fair to Hillary?

Trump released his tax papers

Bankruptcy 101

Trump corp Chapter 11 was managed by a creditors committee, usually comprising the 10 largest creditors (the banks more than likely)

they analyze what the company can pay, it is proposed thru a Plan of Arrangement. The US Trustee managing the case then presents it to a Fed Judge for approval based on the votes by creditors to accept or reject the Plan (payout)

It was voted by creditors to accept a 30% Plan, not bad most are BK's are 5 cents.

So now we look at contractor owed $100,000, he gets $30,000. losing 70K.

Not really if that was profit he pays corp tax say of 35% on the $70,000 or $25,000 netting $45,000, this creditor lost $45,000

Not really, he gets a tax deduction on other corp profits for the $70,000 under the IRS BK laws. or another $25K

Bottom line is a 20% loss as rule of thumb.

So he didn't lose $100K

If that loss can't be adsorbed then yes that company is in trouble.

Most (not all) creditors survive to continue.

All within the goals of the Bankruptcy Act.

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By the way in the Plan Trump gave up 50% equity and was on the hook personal loan guarantees of $900,000,000, all his liquid assets at the time so has ass was on the line.

He survived and later sold his equity and went on.