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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
bymcgrew ( 92797 ) * writes:
I had to RTFA to find out that WDE is Westinghouse Digital Electronics.
Westinghouse is currently in General Assignment, an alternative to bankruptcy under California state law
I don't get this at all. The US Constitution says bankruptcies are in Federal court and not a state matter. Is there a better FA somewhere?
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bydrinkypoo ( 153816 ) writes:
I don't get this at all. The US Constitution says bankruptcies are in Federal court and not a state matter. Is there a better FA somewhere?
Bankruptcy has been handled at the state level longer than I can remember, or at least, the laws for same are wildly different in different states. Florida is a home for retirees specifically because going to Florida permits them to evade debts. California is also a great place to be in debt.
bynomadic ( 141991 ) writes:
Bankruptcy is in Federal Courts exclusively; state courts are not allowed to hear bankruptcy cases. However, different state laws may impact how certain aspects of the bankruptcy, including what assets are protected, are handled.
bydrinkypoo ( 153816 ) writes:
However, different state laws may impact how certain aspects of the bankruptcy, including what assets are protected, are handled.
Well obviously IANAL. I guess the next logical question is what happens when someone feels that the federal court has disrespected the state laws.
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bynomadic ( 141991 ) writes:
Well obviously IANAL. I guess the next logical question is what happens when someone feels that the federal court has disrespected the state laws.
They can just appeal the decision to the Federal appellate court, which in turn can certify the question to the state supreme court if they want, but that is at the Federal court's discretion.
byFirethorn ( 177587 ) writes:
Florida is a home for retirees specifically because going to Florida permits them to evade debts.
There's more to it than that. It's also got a tax structure that is favorable to them. Many are looking to 'get out of the cold', which is why they aren't going to Alaska. Better cost of living than AK as well.
byJohn Hasler ( 414242 ) writes:
> The US Constitution says bankruptcies are in Federal court and not a state matter.
It says no such thing. It does not cover bankruptcy at all, even indirectly.
bybill_mcgonigle ( 4333 ) * writes:
It does not cover bankruptcy at all, even indirectly.
Article I, Section 8, Paragraph 4 [usconstitution.net]. Which doesn't specify that all bankruptcies are to be in Federal court, just that the Congress may specify uniform treatment.
obOnion [theonion.com]
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byquantumplacet ( 1195335 ) writes:
What were you banking on no one reading your provided link? It says nothing about bankruptcy, the "uniform treatment" you mention is in reference to Imposts, Excises and Duties. The closest it gets to bankruptcy is the mention of debts, but its referring to debts the federal government owes.
bynomadic ( 141991 ) writes:
What were you banking on no one reading your provided link? It says nothing about bankruptcy, the "uniform treatment" you mention is in reference to Imposts, Excises and Duties. The closest it gets to bankruptcy is the mention of debts, but its referring to debts the federal government owes.
What about the part where it says:
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
?
bymsauve ( 701917 ) writes:
Are you an idiot in real life, too, or do you only play one on slashdot?
byCourageous ( 228506 ) writes:
Your browser has a search function. Please learn to use it before accusing someone else of not reading. That was just stupid.
byharlows_monkeys ( 106428 ) writes:
What were you banking on no one reading your provided link? It says nothing about bankruptcy
Are you blind? "To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States", right there where he said it is, Article I, Section 8, Paragraph 4 (1-based counting, paragraph 5 for C programmers)
●urrent threshold.
byThrowAwaySociety ( 1351793 ) writes:
I had to RTFA to find out that WDE is Westinghouse Digital Electronics.
From TFS:
"The Software Freedom Conservancy has received a judgement against Westinghouse Digital Electronics for $90,000 in damages, $50,000 in costs plus a donation of all of the offending HDTV's that were using BusyBox in violation of the GPL. Given that WDE is nearly bankrupt it's likely that most if not all of the cash will disappear in a legal 'poof', but it is a victory regardless."
Did the summary get edited to include that, or what?
bymcgrew ( 92797 ) * writes:
My subscription must have gotten in the way; it originally said "The Software Freedom Conservancy has received a judgement against Westinghouse for $90,000 in damages".
bykilgortrout ( 674919 ) writes:
This isn't a court proceeding. A General Assignment, i.e. an assignment for the benefit of creditors, is a private out of court transaction where the debtor assigns all his assets to an assignee that he has chosen who takes the property in trust for the benefit of all creditors. The assignee is charged with the responsibility of liquidating all of the debtors assets and distributing the proceeds to the creditors on a pro rata basis subject to whatever creditor priority laws may exist under state law, if any
byDragonWriter ( 970822 ) writes:
Westinghouse is currently in General Assignment, an alternative to bankruptcy under California state law
I don't get this at all. The US Constitution says bankruptcies are in Federal court and not a state matter.
General Assignment is not bankruptcy, it is a procedure governed by state law which can provide an alternative to bankruptcy in the dissolution of a concern in some circumstances. Unlike bankruptcy, it is not a judicial process (which can often make it more expedient and less costly.)
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