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If your assets include investment in a corporation that elects to be taxed as a pass through entity, under subchapter S, and there is any value there - why would you have any question that it should be used to pay your debts? If you invested and owed stock in a corporation, say Microsoft, that isn't receiving the favorable tax treatment under Sub S, should that be excluded too?
Use your assets to pay those you owe....and don't look for reasons not to! In a practical sense, a Trustee looks to see if the shares are worth anything. If the debt of the S Corp is larger than the assets, then a petitioner's attorney could argue that the S Corp has $0 in net assets. If the shares are valued, then the value could come under scrutiny. NOTE: The value of the shares is the "thrift" value of its assets, i.e. what could the assets be sold at in one day whether it be to one person or as a going out of business sale. If either argument is used, the Trustee may want to verify all debts and assets. For example, if it is a brick and mortar store, they could request copies of all due bills, copies of past tax returns and have an Appraiser come to the store to value the assets. Again, in a practical sense, this is not done often as it takes time and money to value the assets and to verify debt unless the Trustee has confidence that they can get something out of it. If there is a value, then the Petitioner would probably have to pay the Trustee the value of the shares (or have them cancelled out by exclusions which vary by State). NOTE: If the Trustee just happens to know someone who wants to buy this sort of business and you cannot come up with the funds to "buy it back", you could lose the business as the Trustee could sell the shares to the other person. Now, the Trustee is not an evil person - their job is to get as much as possible to pay back the debt that the Petitioner owes. Just do what you think is right and get an attorney to help you.
What else can I help you with?
What is share in company how many shares do companies own?
A company can issue shares, which is like slicing the ownership of the company up into thousands or millions of pieces. If you own 10 shares of Apple Corp (10 shares is worth about $1000 US, currently) you've got part ownership of Apple Corp. However, since Apple has several billion shares outstanding, you would only own a very small part of the company. It's up to the company to decide how many shares to sell. Of course the more shares they sell, the less each share is worth.
When a stock splits does the dividend go down?
Yes and no. Here's an example to illustrate: Let's say that you own 100 shares of XYZ Corp., which pays 50¢ per share in dividends. That means that you get $50 in dividends for your 100 shares. Now the stock splits 2-for-1. You now have 200 shares of XYZ Corp., but the dividend is now 25¢ per share. However, your total dividend for the amount of stock you own is still $50.
What are 240 shares of dilberts leasing development corp purchased in 1960 worth?
Apparently the company went bankrupt in 1964, so I believe the correct answer is nothing.
Kuhns Corp. has 200000 shares of preferred stock outstanding that is cumulative and 100000 common stock outstanding. The preferred dividend is 3.00 per share and has not been paid for three years. If?
Kuhns Corp. owes its preferred shareholders a total of $600,000 in unpaid dividends, calculated as 200,000 shares multiplied by $3.00 per share for three years. Consequently, before any common stockholders can receive dividends, the company must first pay off this accumulated preferred dividend. Only after satisfying this obligation can any remaining earnings be distributed to the 100,000 shares of common stock outstanding.
What is difference between common stock and treasury stock of a corp.?
Common stock are the shares issued by a company to the public. Treasury stock are the common shares that the same company has bought back from the public. Companies tend to to do this when they want to restrict the number of total outstanding shares in the market. Another reason to buy back stocks is to hopefully sell them back to the market when the price per stock increases.
Is Williamson Printing Corp in Dallas Tx in bankruptcy?
NO
Has testa corp filed chapter 11?
Chapter 11 is a type of bankruptcy that can be filed by both businesses and people. Testa Corp filed bankruptcy on October 11, 2013.
Who owns chipotle?
Mcdonalds Corp has the majority of shares.
Shares of Ross Corp are selling for 45 per share At the end of the year shares of Ross Corp stock are selling for 35?
This is probably due to the economic crisis.
In eve online what happens to your shares when you leave a corp?
You keep them.
In what year did WorldCom file for bankruptcy?
WorldCom filed for bankruptcy in 2002. At the time, it was the largest bankruptcy ever, with $107 billion in assets. This almost twice as much as that of Enron Corp.
Does a shareholder in an S Corpration with 75 percent of the shares who is also the president of the S Corporation need consent of the other 25 percent to declare bankruptcy in the state of IL?
A shareholder can declare personal bankruptcy whenever he wants. If the S-corp is declaring bankruptcy, only a simple majority is required (51%) before action can be taken. Do you need consent of the other shareholders? That depends of what your articles of incorporation say.
Has American Consolidated Media Inc filed for Bankruptcy?
No, they trying to buy BoA corp.
If I have a stock certificate for Wilson Foods Corp where do I cash it out?
Your answer depends on which Wilson Foods Corp stock shares you're holding Take your certificate to a local stock broker, who can help you decide where to find the corporate headquarters. The corporate headquarters will then advise you about how to cash out your shares.
Can a judgment be collected from a dissolved corporation?
The judgment would have to be presented to the bankruptcy court. Wow! Who mentioned bankruptcy? This is a money judgment against a admin dissolved corp. If bankruptcy had been filed the judgment, if listed, would be discharged and worthless.
What is share in company how many shares do companies own?
A company can issue shares, which is like slicing the ownership of the company up into thousands or millions of pieces. If you own 10 shares of Apple Corp (10 shares is worth about $1000 US, currently) you've got part ownership of Apple Corp. However, since Apple has several billion shares outstanding, you would only own a very small part of the company. It's up to the company to decide how many shares to sell. Of course the more shares they sell, the less each share is worth.
Are shares of MCO Resources Inc worth anything today?
I understand that MCO was taken over in 1988 by United Meridian Corp and shares were purchased at $0.40 per share.
