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Wednesday, June 20, 2007

Basic Types of Bankruptcy Proceedings

A filing under Chapter 7 (http://www.law.cornell.edu/uscode/11/ch7.html) is called liquidation. It is the most common type of bankruptcy proceeding. Liquidation involves the appointment of a trustee who collects the non-exempt property of the debtor, sells it and distributes the proceeds to the creditors.
Bankruptcy proceedings under Chapters 11 (http://www.law.cornell.edu/ uscode/11/ch11.html), 12 (http://www.law.cornell.edu/ uscode/11/ch12.html), and 13 (http://www.law.cornell.edu/ uscode/11/ch13.html) involve the rehabilitation of the debtor to allow him or her to use future earnings to pay off creditors. Under Chapter 7, 12, 13, and some 11 proceedings, a trustee is appointed to supervise the assets of the debtor. A bankruptcy proceeding can either be entered into voluntarily by a debtor or initiated by creditors. After a bankruptcy proceeding is filed, creditors, for the most part, may not seek to collect their debts outside of the proceeding. The debtor is not allowed to transfer property that has been declared part of the estate subject to proceedings. Furthermore, certain pre-proceeding transfers of property, secured interests, and liens may be delayed or invalidated. Various provisions of the Bankruptcy Code also establish the priority of creditors' interests.

However, a recent decision by the Supreme Court has shifted this power towards the debtor. In Rousey v. Jacoway (http://www.law.cornell.edu/ supct/html/03-1407.ZS.html), (April 4th, 2005), the Court held that assets in Individual Retirement Accounts (IRA’s) (http://www.investopedia.com/ terms/i/ira.asp) are protected under 11 U.S.C § 522(d) and thus exempt from withdrawal from the bankruptcy estate. This decision has broad implications for the baby-boomer generation, providing millions of Americans nearing retirement with increased protection of their earnings.

Recent passage of the Bankruptcy Prevention and Consumer Protection Act (http://thomas.loc.gov/cgi-bin/bdquery/ z?d109:SN00256:TOM:/bss/d109query.html) in April 2005 has also resulted in major reforms in bankrupcy law, outlining revised guidelines governing the dismissal or conversion of Chapter 7 liquidations to Chapter 11 or 13 proceedings. The law also expands the responsibilities of the United States Trustees Program to include supervision of random and targeted audits, certification of entities to provide credit counseling that individuals must receive before filing for bankruptcy, certification of entities that provide financial education to individuals before being discharged from debt, and greater oversight of small business Chapter 11 reorganization cases.

BANKRUPTCY

Bankruptcy: an overview

Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors. This supervised division also allows the interests of all creditors to be treated with some measure of equality. Certain bankruptcy proceedings allow a debtor to stay in business and use revenue generated to resolve his or her debts. An additional purpose of bankruptcy law is to allow certain debtors to free themselves (to be discharged) of the financial obligations they have accumulated, after their assets are distributed, even if their debts have not been paid infull.

Bankruptcy law is federal statutory law contained in Title 11 of the United States Code. (http://www.law.cornell.edu/uscode/11/) Congress passed the Bankruptcy Code under its Constitutional grant of authority to "establish. . . uniform laws on the subject of Bankruptcy throughout the United States." See U.S. Constitution Article I, Section 8. (http://www.law.cornell.edu/constitution/constitution.articlei.html#section8) States may not regulate bankruptcy though they may pass laws that govern other aspects of the debtor-creditor relationship. See Debtor-Creditor (http://www.law.cornell.edu/topics/debtor_creditor.html). A number of sections of Title 11 incorporate the debtor-creditor law of the individual states.

Bankruptcy proceedings are supervised by and litigated in the United States Bankruptcy Courts (http://www.uscourts.gov/bankruptcycourts.html). These courts are a part of the District Courts of The United States. The United States Trustees (http://www.usdoj.gov/ust/) were established by Congress to handle many of the supervisory and administrative duties of bankruptcy proceedings. Proceedings in bankruptcy courts are governed by the Bankruptcy Rules which were promulgated by the Supreme Court under the authority of Congress.

Friday, March 30, 2007

Top ten Universites On Respective Countries And Fields

According to Good University Guide, Times Online, 2007:
Rank
University
1 University of Oxford
2 University of Cambridge
3 Imperial College London
4 London School of Economics
5 University College London
6 Loughborough University
7 University of Bristol
8 University of Warwick
9 University of Bath
10 University of Durham

According to The Guardian University Guide, 2006:
Rank
University
1 University of Cambridge
2 University of Oxford
3 London School of Economics
4 University College London
5 Imperial College London
6 School of Oriental and African Studies
7 King's College London
8 University of Warwick
9 University of Bath
10 University of Edinburgh

TOP TEN UNIVERSITIES IN USA
According to America's Best Colleges, US News, 2007:
Rank
University
1 Princeton University
2 Harvard University
3 Yale University
4 California Institute of Technology
4 Stanford University
4 Massachusetts Institute of Technology
7 University of Pennsylvania
8 Duke University
9 Dartmouth College
9 Columbia University
9 University of Chicago

Acccording to a report by the National Opinion Research Center commissioned by US News in 1997, however, "the weights used to combine various measures into an overall rating lack any defensible empirical or theoretical basis". --->


TOP TEN UNIVERSITIES IN CANADA
According to Maclean's, 2005:
Medical Doctoral Category: Universities with "a broad range of Ph.D. programs and research, as well as medical schools."
Rank
University
1 McGill University
1 University of Toronto
3 University of Western Ontario
4 University of British Columbia
5 Queen's University
6 University of Alberta
7 Université de Montréal
8 Université Laval
9 Université de Sherbrooke
10 University of Saskatchewan


According to Canada's Top 50 Research Universities, Research Inforsource Inc., 2006:
Rank
University
1 University of Toronto
2 Université de Montréal
3 McGill University
4 University of Alberta
5 University of British Columbia
6 McMaster University
7 University of Calgary
8 University of Ottawa
9 Université Laval
10 University of Western Ontario


TOP TEN UNIVERSITIES IN THE MAINLAND OF CHINA
According to netbig.com, 2006:
Rank
University
1 Tsinghua University, Beijing
1 Peking University, Beijing
3 Fudan University, Shanghai
3 Zhejiang University, Hangzhou
5 Nanjing University, Nanjing
5 University of Science and Technology of China, Hefei
7 Shanghai Jiaotong University, Shanghai
8 Nan'kai University, Tianjin
9 Wuhan University, Wuhan
9 Renmin University of China, Beijing
9 Xi'an Jiaotong University, Xi'an
9 Harbin Insititue of Technology, Harbin
9 Beijing Normal University, Beijing

TOP TEN UNIVERSITIES IN GREATER CHINA A cording to Shanghai Jiaotong University, 2004: Rank University

1 National Taiwan University
2 Tsinghua University
3 The University of Hong Kong
4 Chinese University of Hong Kong
5 Hong Kong University of Science and Technology
6 Peking University
7 Nanjing University
8 University of Science and Technology, China
9 City University of Hong Kong
10 The Hong Kong Polytechnic University --->

TOP EIGHT UNIVERSITIES IN AUSTRALIA According to Good Universities Guide, Australia, 2004: Rank University ***** The University of Adelaide ***** Australian National University ***** The University of Melbourne ***** Monash University ***** The University of New South Wales ***** The University of Queensland ***** The University of Sydney ***** The University of Western Australia Note: The universities are listed in alphabetical order ---> TOP


TEN UNIVERSITIES IN AUSTRALASIA According to Asiaweek, 2000*: Rank University
1 Kyoto University, Japan
2 Tohoku University, Japan
3 The University of Hong Kong
4 Seoul National University, South Korea
5 National University of Singapore
6 Chinese University of Hong Kong
7 Hong Kong University of Science and Technology
8 Australian National University
9 The University of Melbourne, Australia
10 The University of New South Wales, Australia --->


TOP TEN UNIVERSITIES IN THE WORLD
According to The Times Higher Education Supplement, 2006:
Rank
University
1Harvard University
2 University of Cambridge
3 University of Oxford
4 Massachusetts Institute of Technology
4 Yale University
6 Stanford University
7 California Institute of Technology
8 University of California at Berkeley
9 Imperial College London
10 Princeton University

According to Newsweek, 2006:
Rank
University
1 Harvard University
2 Stanford University
3 Yale University
4 California Institute of Technology
5 University of California at Berkeley
6 University of Cambridge
7 Massachusetts Institute of Technology
8 University of Oxford
9 University of California at San Francisco
10 Columbia University

According to Shanghai Jiaotong University, 2006: Rank University
1 Harvard University
2 University of Cambridge
3 Stanford University
4 University of California at Berkeley
5 Massachusetts Institute of Technology
6 California Institute of Technology
7 Columbia University
8 Princeton University
8 University of Chicago
10 University of Oxford --->


TOP TEN UNIVERSITIES OUTSIDE EUROPE AND NORTH AMERICA
According to The Times Higher Education Supplement, 2006:
Rank
University
1 Peking University, China
2 Australian National University, Australia
3 National University of Singapore, Singapore
4 The University of Tokyo, Japan
5 The University of Melbourne, Australia
6 Tsinghua University, China
7 Kyoto University, Japan
8 The University of Hong Kong, Hong Kong
9 The University of Sydney, Australia
10 Monash University, Australia

Top 50 Business Schools In The World

1. Harvard University (MA)
2. Stanford University (CA)
3. University of Pennsylvania (Wharton)
4. Massachusetts Institute of Technology (Sloan)
5. Northwestern University (Kellogg) (IL)
6. University of Chicago
7. Columbia University (NY)
7. University of California–Berkeley (Haas)
9. Dartmouth College (Tuck) (NH)
10. University of California–Los Angeles (Anderson)
11. Duke University (Fuqua) (NC)
12. University of Michigan–Ann Arbor (Ross)
13. New York University (Stern)
14. University of Virginia (Darden)
15. Yale University (CT)
16. Carnegie Mellon University (Tepper) (PA)
17. Cornell University (Johnson) (NY)
18. Emory University (Goizueta) (GA)
19. University of Texas–Austin (McCombs)
20. University of North Carolina–Chapel Hill (Kenan-Flagler)
21. Purdue University–West Lafayette (Krannert) (IN)
22. Ohio State University (Fisher)
23. Indiana University–Bloomington (Kelley)
24. Michigan State University (Broad)
25. University of Minnesota–Twin Cities (Carlson)
26. University of Rochester (Simon) (NY)
27. Washington University in St. Louis (Olin)
28. University of Illinois–Urbana-Champaign
29. University of Southern California (Marshall)
30. University of Washington
31. Texas A&M University–College Station (Mays)
32. University of Notre Dame (Mendoza) (IN)
33. University of Wisconsin–Madison
34. Arizona State University–Main Campus (Carey)
35. Brigham Young University (Marriott) (UT)
36. Georgetown University (McDonough) (DC)
37. Georgia Institute of Technology
38. Pennsylvania State University–University Park (Smeal)
39. University of California–Irvine (Merage)
40. University of Maryland–College Park (Smith)
41. Boston College (Carroll)
42. Southern Methodist University (Cox) (TX)
43. University of Florida (Warrington)
44. Boston University
45. Rice University (Jones) (TX)
46. University of California–Davis
47. University of Georgia (Terry)
48. University of Pittsburgh (Katz)
49. Babson College (Olin) (MA)
50. Tulane University (Freeman) (LA)

Thursday, January 4, 2007

Hey Want To Go Abroad ?

This is a website for the friends who want to go abroad for study.