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 liabilities, subject and/or compromise:
“Are we bereft of citizenship because we are mothers, wives and daughters of a mighty people? Have women no country—no interests staked in public weal—no liabilities in common peril—no partnership in a nation’s guilt and shame?”
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“As long as male behavior is taken to be the norm, there can be no serious questioning of male traits and behavior. A norm is by definition a standard for judging; it is not itself subject to judgment.”
—Myriam Miedzian, U.S. author. Boys Will Be Boys, ch. 1 (1991)
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