economics unit 2 pt.3
reorganization
A chapter 13 bankruptcy filing is called a
True
A lone utility company, detroit Edison and consumer power, faced new competition as deregulation gave people a choice between utility companies. The company tried to battle the act by asking for funds to cover "stranded costs" and lost income once the process was underway, but the deregulation went through
AT&T
After passage of the 1996 deregulation law, the baby bells started merging with each other, and two of them attempted to re-emerge into
IOU
Deregulated Investor Owned Utilities are known as
false
In chapter 13 proceeding, the debtor surrenders his nonexempt property for division among his creditors
1978
The airline deregulation act was put into effect in
7
The california electric customer, instead of being held to paying the one price that a utility would force them to pay, now has their choice
purchasing services or products, to lower rates, and to encourage technological advances through competition
The purpose of deregulation is to open up doors of competition to many businesses in order to offer consumers greater choices in
lien
The right to take, to sell, or hold property to creditors, but pays debts that haven't been forgiven
mega-merger
a huge union of large corporations or utilities
unsecured debt
a promise or obligation to pay another a certain amount of money which has no collateral
great britain and france
are filled with terrible stories of debtors' prisons and penal colonies where people were sent because of their inability to pay their debts
chapter 7
bankruptcy is known as a straight liquidation
hub
central points of business
liquidation
debtor surrenders nonexempt property as security or payment of a debt
bankruptcy
the act of being declared legally insolvent
deregulation
the dropping or relaxing of restrictions and limits
financial obligation
the responsibility to pay debts and due to note is called
title 11
the section of the U.S Code that deals with the rules and procedures of bankruptcy
proponents
those that are in support of something
service
work done for other
supplies and rates
deregulation is about increasing ___ and reducing ___
technological advance
growth through successful scientific research and strength
price-setting standard
guidelines for controlling costs and expenditures by the consumer
bankruptcy court
legal proceedings that deal with the concerns of those who have declared insolvency
true
n a bankruptcy, the priority debts-- the debts that the court feels should be paid first-- are paid, then the unsecured debts are added up
secured debt
promise to pay to another a certain amount of money which has collateral that the creditor may seize
restructuring
realigning or adjusting to meet new qualifications or needs
california
was the first state to undertake the restructuring of the electric utility industry on a state-wide basis
