A Company filed a voluntary bankruptcy petition, and the statement of affairs reflected the following amounts: Estimated book value Current value Assets Assets pledged with fully secured creditors P 800,000 P1,000,000 Assets pledged with partially secured creditors 500,000 400,000 Free assets 1,300,000 1,200,000 Liabilities are as follows: Liabilities with priority - P200,000 Fully secured creditors - 700,000 Partially secured creditors - 500,000 Unsecured creditors without priority - 1,500,000 Assume that assets are converted to cash at their current values, what is the amount of estimated payment to the partially secured creditors?
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- A Company filed a voluntary bankruptcy petition, and the statement of affairs reflected the following amounts: Assets Estimated book value Current value Assets pledged with fully secured creditors P 800,000 P1,000,000 Assets pledged with partially secured creditors 500,000 400,000 Free assets 1,300,000 1,200,000 Liabilities are as follows: Liabilities with priority - P200,000 Fully secured creditors - 700,000 Partially secured creditors - 500,000 Unsecured creditors without priority - 1,500,000 Assume that assets are converted to cash at their current values, what is the expected dividend rate (in decimal form) for general unsecured creditors?The Sunshine Company has the following data in connection with its bankruptcy petition with the Securities and Exchange Commission at the end of 2018. Unsecured creditorsP287.500. Liabilities with priority137,500 Secured Liabilities Debt 1, P262,500; value of pledged asset 225,000 Debt 2, P212,500, value of pledged asset 125,000 Debt 3, P150,000, value of pledged asset 175,000' The company also has a number of other assets that are not pledge in any way, The creditors holding Debt 2 want to receive at least P177,50 Required: For how much do these free assets have to be sold so that Debt 2 would receive exactly P177,500. Show your solutionKent Co. filed a voluntary bankruptcy petition on August 15, 2008, and the statement of affairs reflects the following amounts: Assets Book value Estimated Market value Pledged with fully secured creditors P300,000 P370,000 Pledged with partially secured creditors 180,000 120,000 Free Assets 420,000 320,000 Liabilities With priority 70,000 Fully secured 260,000 Partially secured 200,000 Unsecured 540,000 What amount of cash will be available for unsecured creditors?
- ENRON Company filed a voluntary bankruptcy petition on July 1, 2011 and the statement of affairs reflects the following amounts: BOOK ESTIMATED CARRYING CURRENT VALUE P185, 000 60, 000 160. 000 P 405. 000 VALUE Assets pledge with fully secure creditors Assets pledge with partially secured creditors Free Assets P150, 000 90, 000 Liability with priority Fully secured creditors Partially secured creditors Unsecured creditors 210, 000 P 450. 000 Liabilities P35, 000 130, 000 90, 000 270, 000 P 525, 000 3. Determine the amount to be received by partially secured creditors. В. Р78, 000 A. P90, 000 C. P60, 000 D. P72, 000When the Beacon Computer Company filed for bankruptcy under CCAA, it had the following balance sheet information: Liquidating Value Claims Trade credit $ 6,700 Secured mortgage notes 9,900 Senior debentures 11,900 Junior debentures Total assets $30,400 Equity 16,900 -15,000 Assuming there are no legal fees associated with the bankruptcy, as a trustee, what distribution of liquidating value do you propose? (Do not leave any empty spaces; input a O wherever it is required. Enter the answers in dollars. Omit $ sign in your response.) Trade credit Secured mortgage notes Senior debentures Junior debentures Equity Distribution of liquidating valueWhen the Beacon Computer Company filed for bankruptcy under CCAA, it had the following balance sheet information: Liquidating Value claims Trade credit $ 6,400 Secured mortgage notes 9,600 Senior debentures 11,600 Junior debentures Total assets $30,100 Equity 16,600 -14,100 Assuming there are no legal fees associated with the bankruptcy, as a trustee, what distribution of liquidating value do you propose? (Do not leave any empty spaces; input a O wherever it is required. Omit "$" sign in your response.) Distribution of liquidating value Trade credit Secured mortgage notes Senior debentures Junior debentures Equity $
- When the Beacon Computer Company filed for bankruptcy under CCAA, it had the following balance sheet information: Liquidating Value Total assets $30,400 Equity Claims Trade credit Secured mortgage notes Senior debentures Junior debentures Trade credit Secured mortgage notes Senior debentures Junior debentures Equity $ 6,700 9,900 11,900 16,900 -15,000 Assuming there are no legal fees associated with the bankruptcy, as a trustee, what distribution of liquidating value do you propose? (Do not leave any empty spaces; input a 0 wherever it is required. Enter the answers in dollars. Omit $ sign in your response.) Distribution of liquidating value $On December 18, 2020, the statement of affairs of Facebook Company, which is in bankruptcy liquidation, included in the following:Assets pledges for fully secured liabilities P100,000Assets pledged for partially secured liabilities P40,000Free Assets P120,00Fully secured liabilities P80,000Partially Secured Liabilities P50,000Unsecured Liabilities with Priority P60,000Unsecured Liabilities without Priority P90,000Compute the estimated amount to be paid to:Fully Unsecured Partially UnsecuredSecured Liabilities Secured LiabilitiesLiabilities w/ Priority Liabilities W/out PriorityA . P80,000 P60,000 P50,000 P70,000B. P64,000 P60,000 P48,000 P88,000C. P80,000 P48,000 P60,000 P72,000D. P80,000 P60,000 P48,000 P72,000A review of the assets and liabilities of the No Good Company in bankruptcy on June 31, 20x3, discloses the following A mortgage payable of P350,000 is secured by land and buildings at P560,000. Notes payable ofP175,000 are secured by equipment valued at P140,000. Assets other than those referred to have an estimated value of P157,500. Liabilities other than those referred to, total P420,000, which included claims with priority of P52,500. What is estimated deficiency to unsecured creditors?
- Kheena Company filed a voluntary bankruptcy petition on June 1, 2022 and the statement of affairs reflects the following amounts: Assets pledged with fully secured creditors has a book value of P160,000 while the estimate( realizable value amounted to P190,000. Assets pledged with partially secured creditors has estimated realizable value of P60,000 with book value of P90,000. But the free assets amounted to P140,000 and P200,00 for the realizable and book value, respectively. Liabilities were as follows: Liabilities with priority 20,000 Fully Secured creditors 130,000 Partially secured creditors 100,000 Unsecured creditors 260,000 Q2. If the assets are converted into cash at the estimated realizable values, what is the ERP for partially secured creditors?Kheena Company filed a voluntary bankruptcy petition on June 1, 2022 and the statement of affairs reflects the following amounts: Assets pledged with fully secured creditors has a book value of P160,000 while the estimate( realizable value amounted to P190,000. Assets pledged with partially secured creditors has estimated realizable value of P60,000 with book value of P90,000. But the free assets amounted to P140,000 and P200,00 for the realizable and book value, respectively. Liabilities were as follows: Liabilities with priority 20,000 Fully Secured creditors 130,000 Partially secured creditors 100,000 Unsecured creditors 260,000 Q1. What is the estimated Recovery Percentage for Unsecured Creditors without Priority?Ataway Company has suffered severe financial difficulties and is considering filing a bankruptcy petition. It has the following assets and liabilities. The assets are stated at net realizable value. Assets (pledged against debts of $78,000) Assets (pledged against debts of $146,000) Other assets Liabilities with priority Other unsecured creditors $ 132,000 58,000 88,000 53,200 208,000 In a liquidation, how much money would be paid on the partially secured debt? Payment on partially secured debt $ 82,667