insolvency Photos on Townhall

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              FILE In this Nov. 19, 2012 file photo, 45-year old office manager Irene Gonzalez of Spain stands by her front door while she waits to be evicted from her home,  in Madrid. Irene Gonzale

    FILE In this Nov. 19, 2012 file photo, 45-year old office manager Irene Gonzalez of Spain stands by her front door while she waits to be evicted from her home, in Madrid. Irene Gonzale

    Posted: 12/10/2012 12:08:27 PM EST
    FILE In this Nov. 19, 2012 file photo, 45-year old office manager Irene Gonzalez of Spain stands by her front door while she waits to be evicted from her home, in Madrid. Irene Gonzalez is a domestic violence victim, works half-time because of layoffs at her air conditioning employer and is a single mother caring for her two children at the small apartment she and her ex-husband bought during Spain's economic boom years. These factors that should prevent her from being kicked out under a new Spanish decree aimed at protecting the needy from being made homeless after at least two economically desperate Spaniards facing eviction committed suicide. Even if Gonzalez manages to stay in her home for a few more years, she still faces debt in unpaid mortgage principle, court fees and interest totaling close to euro140,000 that she and her ex-husband will owe for the rest of their lives. If they don't pay it off, their children inherit it. After putting in place the decree, Spain is now under increasing pressure to come up with a first-of-its kind insolvency law for the country that would allow mortgage debtors to turn in their keys and face limited liability. (AP Photo/Paul White)
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              FILE  In this Nov. 19, 2012 file photo, 45-year old office manager Irene Gonzalez of Spain cuts a cake while she waits to be evicted from her home in Madrid. Irene Gonzalez is a domesti

    FILE In this Nov. 19, 2012 file photo, 45-year old office manager Irene Gonzalez of Spain cuts a cake while she waits to be evicted from her home in Madrid. Irene Gonzalez is a domesti

    Posted: 12/10/2012 12:08:27 PM EST
    FILE In this Nov. 19, 2012 file photo, 45-year old office manager Irene Gonzalez of Spain cuts a cake while she waits to be evicted from her home in Madrid. Irene Gonzalez is a domestic violence victim, works half-time because of layoffs at her air conditioning employer and is a single mother caring for her two children at the small apartment she and her ex-husband bought during Spain's economic boom years. These factors that should prevent her from being kicked out under a new Spanish decree aimed at protecting the needy from being made homeless after at least two economically desperate Spaniards facing eviction committed suicide. Even if Gonzalez manages to stay in her home for a few more years, she still faces debt in unpaid mortgage principle, court fees and interest totaling close to euro140,000 that she and her ex-husband will owe for the rest of their lives. If they don't pay it off, their children inherit it. After putting in place the decree, Spain is now under increasing pressure to come up with a first-of-its kind insolvency law for the country that would allow mortgage debtors to turn in their keys and face limited liability. (AP Photo/Paul White, File)
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              FILE  In this Nov. 9, 2012 file photo, a man paints graffiti against banks reading, ''Assassin'', during a march against evictions, in Barakaldo, northern Spain after a woman fell to he

    FILE In this Nov. 9, 2012 file photo, a man paints graffiti against banks reading, ''Assassin'', during a march against evictions, in Barakaldo, northern Spain after a woman fell to he

    Posted: 12/10/2012 12:08:27 PM EST
    FILE In this Nov. 9, 2012 file photo, a man paints graffiti against banks reading, ''Assassin'', during a march against evictions, in Barakaldo, northern Spain after a woman fell to her death as bailiffs approached to evict her for non-payment of the mortgage from her fourth-floor apartment. At least two economically desperate Spaniards facing eviction committed suicide. Even after being evicted, if people can't pay off off their mortgages, their children inherit it. After putting in place the decree, Spain is now under increasing pressure to come up with a first-of-its kind insolvency law for the country that would allow mortgage debtors to turn in their keys and face limited liability(AP Photo/Alvaro Barrientos, File)
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              FILE In this Nov. 19, 2012 file photo, 45-year old office manager Irene Gonzalez of Spain, left waits with a friend, to be evicted from her home in Madrid. Irene Gonzalez is a domestic

    FILE In this Nov. 19, 2012 file photo, 45-year old office manager Irene Gonzalez of Spain, left waits with a friend, to be evicted from her home in Madrid. Irene Gonzalez is a domestic

    Posted: 12/10/2012 12:08:27 PM EST
    FILE In this Nov. 19, 2012 file photo, 45-year old office manager Irene Gonzalez of Spain, left waits with a friend, to be evicted from her home in Madrid. Irene Gonzalez is a domestic violence victim, works half-time because of layoffs at her air conditioning employer and is a single mother caring for her two children at the small apartment she and her ex-husband bought during Spainís economic boom years. These factors that should prevent her from being kicked out under a new Spanish decree aimed at protecting the needy from being made homeless after at least two economically desperate Spaniards facing eviction committed suicide. Even if Gonzalez manages to stay in her home for a few more years, she still faces debt in unpaid mortgage principle, court fees and interest totaling close to euro140,000 that she and her ex-husband will owe for the rest of their lives. If they don't pay it off, their children inherit it. After putting in place the decree, Spain is now under increasing pressure to come up with a first-of-its kind insolvency law for the country that would allow mortgage debtors to turn in their keys and face limited liability. (AP Photo/Paul White, File)
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              FILE - In this June 2, 2008 file photo, opposition Singapore Democratic Party leader Chee Soon Juan, second from left, leaves the supreme court in Singapore. Chee  has been discharged f

    FILE - In this June 2, 2008 file photo, opposition Singapore Democratic Party leader Chee Soon Juan, second from left, leaves the supreme court in Singapore. Chee has been discharged f

    Posted: 11/21/2012 9:18:20 AM EST
    FILE - In this June 2, 2008 file photo, opposition Singapore Democratic Party leader Chee Soon Juan, second from left, leaves the supreme court in Singapore. Chee has been discharged from bankruptcy, the government said Wednesday, Nov. 21, 2012, after an unprecedented concession by two former prime ministers to whom he owed about $408,000. Ex-prime ministers Lee Kuan Yew and Goh Chok Tong agreed to accept a reduced amount of 30,000 Singapore dollars ($24,500) from Chee, which will free him from bankruptcy proceedings formally on Friday, said a statement by the Insolvency and Public Trustee's Office. (AP Photo/Wong Maye-E, File)
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              A man passes by an electoral poster for the "Five Star" movement, in Catania, in the island of Sicily, Italy, Sunday, Oct. 28, 2012. Sicilian elections on Sunday were providing a key te

    A man passes by an electoral poster for the "Five Star" movement, in Catania, in the island of Sicily, Italy, Sunday, Oct. 28, 2012. Sicilian elections on Sunday were providing a key te

    Posted: 10/28/2012 6:23:38 PM EST
    A man passes by an electoral poster for the "Five Star" movement, in Catania, in the island of Sicily, Italy, Sunday, Oct. 28, 2012. Sicilian elections on Sunday were providing a key testing ground for Italy's political parties before national elections in the spring to replace the technical government of Premier Mario Monti. Ten candidates were vying for governor of one of Italy's most important regions in the election, which was called following the resignation of Gov. Raffaele Lombardo amid concerns that the region risked insolvency and following his indictment on charges of Mafia association. He has denied the charges. The populist Five Star Movement launched by comic Beppe Grillo is proving a threat to the traditional center-right and center-left parties. (AP Photo/Carmelo Imbesi)
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              A man looks at an electoral poster for the "Five Star" movement, in Catania, on the island of Sicily, Italy, Sunday, Oct. 28, 2012. Sicilian elections on Sunday were providing a key tes

    A man looks at an electoral poster for the "Five Star" movement, in Catania, on the island of Sicily, Italy, Sunday, Oct. 28, 2012. Sicilian elections on Sunday were providing a key tes

    Posted: 10/28/2012 6:23:38 PM EST
    A man looks at an electoral poster for the "Five Star" movement, in Catania, on the island of Sicily, Italy, Sunday, Oct. 28, 2012. Sicilian elections on Sunday were providing a key testing ground for Italy's political parties before national elections in the spring to replace the technical government of Premier Mario Monti. Ten candidates were vying for governor of one of Italy's most important regions in the election, which was called following the resignation of Gov. Raffaele Lombardo amid concerns that the region risked insolvency and following his indictment on charges of Mafia association. He has denied the charges. The populist Five Star Movement launched by comic Beppe Grillo is proving a threat to the traditional center-right and center-left parties. The poster reads: "Do you really want to vote for them?". (AP Photo/Carmelo Imbesi)
  •  - Rakesh Saxena is assisted by policemen as he arrives at the Bangkok's criminal court

    Rakesh Saxena is assisted by policemen as he arrives at the Bangkok's criminal court

    Posted: 6/8/2012 4:24:33 AM EST
    Rakesh Saxena is assisted by policemen as he arrives at the Bangkok's criminal court June 8, 2012. The Thai court jailed the Indian financier for 10 years on Friday for massive embezzlement that played a part in the insolvency of a Thai bank in the mid-1990s, sparking a crisis in the financial sector that spread through Asia in 1997. REUTERS/Chaiwat Subprasom (THAILAND - Tags: BUSINESS CRIME LAW)
  •  - Rakesh Saxena is assisted by policemen as he arrives at the Bangkok's criminal court

    Rakesh Saxena is assisted by policemen as he arrives at the Bangkok's criminal court

    Posted: 6/8/2012 4:22:14 AM EST
    Rakesh Saxena is assisted by policemen as he arrives at the Bangkok's criminal court June 8, 2012. The Thai court jailed the Indian financier for 10 years on Friday for massive embezzlement that played a part in the insolvency of a Thai bank in the mid-1990s, sparking a crisis in the financial sector that spread through Asia in 1997. REUTERS/Chaiwat Subprasom (THAILAND - Tags: CRIME LAW BUSINESS)
  •  - Rakesh Saxena is assisted by policemen to get into wheelchairs as he arrives at the Bangkok's criminal court in Bangkok

    Rakesh Saxena is assisted by policemen to get into wheelchairs as he arrives at the Bangkok's criminal court in Bangkok

    Posted: 6/8/2012 4:21:19 AM EST
    Rakesh Saxena is assisted by policemen to get into wheelchairs as he arrives at the Bangkok's criminal court in Bangkok June 8, 2012. The Thai court jailed the Indian financier for 10 years on Friday for massive embezzlement that played a part in the insolvency of a Thai bank in the mid-1990s, sparking a crisis in the financial sector that spread through Asia in 1997. REUTERS/Chaiwat Subprasom (THAILAND - Tags: CRIME LAW BUSINESS)
  •  - To match Insight PETROPLUS-DEMISE/

    To match Insight PETROPLUS-DEMISE/

    Posted: 4/4/2012 9:06:35 AM EST
    Employees stand at the independent European Petroplus Refinery site in Petit-Couronne, one of the company's five sites in Europe, in this file picture taken February 24, 2012. In January this year oil refiner Petroplus filed for insolvency after it defaulted on $1.75 billion of debt and all five of its refineries were put up for sale. Coryton kept refining under administration, having effectively leased its refinery to co-founder van Poecke, together with Morgan Stanley and private equity outfit KKR. Petit-Couronne is due to reopen under the six-month processing deal with Shell which French President Nicolas Sarkozy brokered. Trading firm Gunvor said it was buying the Antwerp refinery, although the plant has yet to start up, and the remaining facilities are still seeking firm buyers. To match Insight PETROPLUS-DEMISE/ REUTERS/Philippe Wojazer/Files (FRANCE - Tags: ENERGY BUSINESS)
  •  - To match Insight PETROPLUS-DEMISE/

    To match Insight PETROPLUS-DEMISE/

    Posted: 4/4/2012 9:05:20 AM EST
    The Petroplus refinery is seen in Cressier near Neuchatel, in this file picture taken January 4, 2012. In January this year oil refiner Petroplus filed for insolvency after it defaulted on $1.75 billion of debt and all five of its refineries were put up for sale. Coryton kept refining under administration, having effectively leased its refinery to co-founder van Poecke, together with Morgan Stanley and private equity outfit KKR. Petit-Couronne is due to reopen under the six-month processing deal with Shell which French President Nicolas Sarkozy brokered. Trading firm Gunvor said it was buying the Antwerp refinery, although the plant has yet to start up, and the remaining facilities are still seeking firm buyers. To match Insight PETROPLUS-DEMISE/ REUTERS/Michael Buholzer/Files (SWITZERLAND - Tags: ENERGY BUSINESS)
  •  - To match Insight PETROPLUS-DEMISE/

    To match Insight PETROPLUS-DEMISE/

    Posted: 4/4/2012 9:03:44 AM EST
    The Petroplus refinery is pictured in Cressier near Neuchatel, in this file picture taken May 12, 2011. In January 2012 oil refiner Petroplus filed for insolvency after it defaulted on $1.75 billion of debt and all five of its refineries were put up for sale. Coryton kept refining under administration, having effectively leased its refinery to co-founder van Poecke, together with Morgan Stanley and private equity outfit KKR. Petit-Couronne is due to reopen under the six-month processing deal with Shell which French President Nicolas Sarkozy brokered. Trading firm Gunvor said it was buying the Antwerp refinery, although the plant has yet to start up, and the remaining facilities are still seeking firm buyers. To match Insight PETROPLUS-DEMISE/ REUTERS/Denis Balibouse/Files (SWITZERLAND - Tags: ENERGY BUSINESS)
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    Posted: 3/29/2012 7:45:46 AM EST
    Tokyo Electric Power Co. President Toshio Nishizawa contemplates during a press conference at the company's headquarters in Tokyo, Thursday, March 29, 2012. The power company behind Japan's nuclear crisis is seeking more public funds to avoid insolvency as the cost of compensation and stabilizing damaged reactors swells. TEPCO President Nishizawa said the company is in severe financial conditions. (AP Photo/Kyodo News) JAPAN OUT, MANDATORY CREDIT, NO LICENSING IN CHINA, HONG KONG, JAPAN, SOUTH KOREA AND FRANCE
  •  - To match Mideast Money IRAQ-BANK/

    To match Mideast Money IRAQ-BANK/

    Posted: 3/28/2012 10:30:52 AM EST
    Iraqi banker Saad al-Bunia speaks to Reuters at his office in Amman March 26, 2012. Bunia says the country's largest privately owned bank, which was placed in insolvency proceedings by authorities this month, is a victim of its own success: its growth threatened the near-monopoly of state banks. The rise and fall of Warka Bank for Investment and Finance - and the struggle to ensure it rises again - underline the opportunities and obstacles in Iraq's chaotic business environment as the country recovers from years of war and economic sanctions. To match Mideast Money IRAQ-BANK/ Picture taken March 26, 2012. REUTERS/Ali Jarekji (JORDAN - Tags: BUSINESS POLITICS)
  •  - To match Mideast Money IRAQ-BANK/

    To match Mideast Money IRAQ-BANK/

    Posted: 3/28/2012 10:29:47 AM EST
    Iraqi banker Saad al-Bunia speaks to Reuters at his office in Amman March 26, 2012. Bunia says the country's largest privately owned bank, which was placed in insolvency proceedings by authorities this month, is a victim of its own success: its growth threatened the near-monopoly of state banks. The rise and fall of Warka Bank for Investment and Finance - and the struggle to ensure it rises again - underline the opportunities and obstacles in Iraq's chaotic business environment as the country recovers from years of war and economic sanctions. To match Mideast Money IRAQ-BANK/ Picture taken March 26, 2012. REUTERS/Ali Jarekji (JORDAN - Tags: BUSINESS POLITICS)
  •  - To match Mideast Money IRAQ-BANK/

    To match Mideast Money IRAQ-BANK/

    Posted: 3/28/2012 10:29:17 AM EST
    Iraqi banker Saad al-Bunia speaks to Reuters at his office in Amman March 26, 2012. Bunia says the country's largest privately owned bank, which was placed in insolvency proceedings by authorities this month, is a victim of its own success: its growth threatened the near-monopoly of state banks. The rise and fall of Warka Bank for Investment and Finance - and the struggle to ensure it rises again - underline the opportunities and obstacles in Iraq's chaotic business environment as the country recovers from years of war and economic sanctions. To match Mideast Money IRAQ-BANK/ Picture taken March 26, 2012. REUTERS/Ali Jarekji (JORDAN - Tags: BUSINESS POLITICS)
  •  - To match Mideast Money IRAQ-BANK/

    To match Mideast Money IRAQ-BANK/

    Posted: 3/28/2012 10:27:57 AM EST
    Iraqi banker Saad al-Bunia speaks to Reuters at his office in Amman March 26, 2012. Bunia says the country's largest privately owned bank, which was placed in insolvency proceedings by authorities this month, is a victim of its own success: its growth threatened the near-monopoly of state banks. The rise and fall of Warka Bank for Investment and Finance - and the struggle to ensure it rises again - underline the opportunities and obstacles in Iraq's chaotic business environment as the country recovers from years of war and economic sanctions. To match Mideast Money IRAQ-BANK/ Picture taken March 26, 2012. REUTERS/Ali Jarekji (JORDAN - Tags: BUSINESS POLITICS)


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