"Bankruptcy is nature's do over." -Creed Bratton
what michael scott shouts when creed tells him that declaring bankruptcy will make all of his problems go away
michael declared (not said) this because he thought declaring bankruptcy was that simple
what michael scott shouts when creed tells him that declaring bankruptcy will make all of his problems go away
michael declared (not said) this because he thought declaring bankruptcy was that simple
"I DECLARE BANKRUPTCY!!!"
by anna is a bananya May 2, 2019
Get the i declare bankruptcymug. The carnal connection of mediocre attention-hungry accountants that results in so much cringe, both their respective employers immediately file for bankruptcy.
by Tankdog November 13, 2020
Get the Ch. 69 Bankruptcymug. As opposed to Section 11, if you file for Section 12 bankrupcy, and you're successful, it means the Fed will bail you out.
AIG were succesful in their bid for Section 12 Bankruptcy, whereas Lehmann Bros were allowed to go under.
by Seanoooog October 31, 2008
Get the Section 12 bankruptcymug. Having so many voice mails that you have to delete everything and start over cuz there is no way you will ever be able to call everyone back.
Jennae had to declare voice mail bankruptcy cuz she was over 100 and everybody knows that people only leave voice mails when they want something.
by JRK STP July 26, 2007
Get the voice mail bankruptcymug. when you can't afford an attorney, the fees or even the gas to get to Bankruptcy Court, you just declare Common Law Bankruptcy (In Pro Per..means "I represent myself").
who knows better than YOU how much money you don't have & how you just can't make payments on credit cards.
who knows better than YOU how much money you don't have & how you just can't make payments on credit cards.
by yuba gurl June 25, 2012
Get the Common Law Bankruptcy (In Pro Per)mug. When a hotel or resort that offers all inclusive pricing can no longer afford to run their business as a direct result of Matt drinking all of their liquor.
Matt went down to Punta Cana and got so fucked up he put those motherfuckers in Chapter 16 bankruptcy.
by MattTheFuckingHat March 28, 2009
Get the Chapter 16 Bankruptcymug. Hidden in the deep and mysterious undercurrents of the Federal legal machinery, billion-dollar Law Firms, profit offsetting Debters-in-Posession, and Parasitic Restructuring Teams methodically extract unimaginable financial compensation from the many hopeless, helpless and beleaguered businesses unlucky enough to file for Chapter 11 ‘relief’.
Well, we’re on credit-hold with every one of our vendors, we can’t pay our staff, our taxes or operating expenses; looks like we’re heading for Chapter 11.
Right. Now all of our debt will be resolved and a Debtor-In-Posession can loan us about 20 million dollars that they don’t expect to recover; they will use that loss to tax-offset profit from their other business interests and the loan funds mostly to pay excessively padded legal and professional fees. The objective here is to delay, extend and postpone definitive resolution of the case in order to optimize the Business of Bankruptcy. Unsecured creditors lose, lawyers win.
Right. Now all of our debt will be resolved and a Debtor-In-Posession can loan us about 20 million dollars that they don’t expect to recover; they will use that loss to tax-offset profit from their other business interests and the loan funds mostly to pay excessively padded legal and professional fees. The objective here is to delay, extend and postpone definitive resolution of the case in order to optimize the Business of Bankruptcy. Unsecured creditors lose, lawyers win.
by YAWA September 1, 2025
Get the The Business of Bankruptcymug.