Experian financial scandal makes rebuilding the reputation of being the U.S. futures industry setback. MF Global's bankruptcy last year after being found $ 1.6 billion shortfall in customer funds.
Reply required under U.S. bankruptcy law bankruptcy debt owed by the applicant at the time, the first consideration is secured through debt, secured creditors have priority claim. Movable or immovable property to be used for the repayment of secured debt only after the secured creditors, in order to be used to repay those debts incurred without collateral. However, if the mortgaged property is insufficient to repay the debt secured creditors, some of which are insufficient to repay, it is considered to be without mortgage debt. This part of the creditor, secured creditors and general creditors should be the same pro-rata the remaining property of the bankruptcy applicants. ak smiley library In all, without mortgage debt, the amount owed by the government, wages and other payments, and the order of priority in the repayment of other debt not secured. Other without mortgage debt, and only in this part of the debt paid in priority only after the pro rata among creditors. If the debt is owed by the applicant belongs ak smiley library to the bankruptcy ak smiley library of its previous employee wages, ak smiley library bankruptcy applicants must submit plans to reimburse employees for all wages to the court, its previous employee or creditor is entitled to first obtain their wages. And as Chinese customers you just an ordinary creditor, so little chance of getting the money is got, and can not be full. Such repayment will undoubtedly allow domestic law to protect customers disappointed and sad.
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