Liabilities Subject To Compromise

Liabilities Subject to Compromise refers to the Debtors' liabilities, in the U.S.A., incurred before the start of the Chapter 11 Cases. This amount represents the debtors' estimate of known or potential pre-petition claims to be resolved in connection with the Chapter 11 cases. Such claims remain subject to future adjustments. Virtually all of the Corporation's pre-petition debt is in default due to the filing and is included in liabilities subject to compromise. Payment terms for liabilities subject to compromise will be established as part of a plan of reorganization under the Chapter 11 cases.

Famous quotes containing the words compromise, liabilities and/or subject:

    Some men are born to own, and can animate all their possessions. Others cannot: their owning is not graceful; seems to be a compromise of their character: they seem to steal their own dividends.
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    Give me a thrill, says the reader,
    Give me a kick;
    I don’t care how you succeed, or
    What subject you pick.
    Philip Larkin (1922–1986)