Tim Holden Quotes

A bankruptcy judge can fix your balance sheet, but he cannot fix your company.

The dearth of business activity on the traditional day of rest makes Sunday an ideal time to declare insolvency. Bankruptcy petitions are time-stamped to the minute, instantly dividing a failed company's dealings into pre-bankruptcy transactions and post-bankruptcy transactions.

Today, certain people file for bankruptcy, businesses and individuals, and it no longer has the stigma it once had. Now it's almost considered wise, a way to regroup and come back again.

Together with a team of financial and legal experts I have spent months exploring all possible alternatives to bankruptcy but to no avail.

Bankruptcy represents a longstanding commitment in this country to helping people get a fresh start. This principle has never been giving only certain people a fresh start.

A lot of other things come along with Chapter 11, which basically end up in a lot of pain.

Bankruptcy has become a feeding trough for lawyers, accountants and investment bankers.

When a company goes bankrupt, you as a company have absolutely no say whatsoever as to what happens.

Bankruptcy is a serious decision that people have to make.

By the time most people file for bankruptcy, their credit is already trashed, they have a high debt-to-income ratio - a key indicator lenders look at - and they've likely defaulted on more than a few accounts.

I'm short-selling my house. I have more loans than I can sell the house for. The house will not go into foreclosure. It will be a short sale. I can't afford the house as I once could.

There are lots of businesses that are well in excess of $9 billion that have gone into bankruptcy, that have been mismanaged. And that has not served anyone very well.

There's only one thing you can do in bankruptcy: break your word, break your deals. It allows you to say to the small businesses, who have been catering lunches for you, 'Sorry, we're not paying you.' It allows you to go to the workers and say, 'Sorry, we're not paying you.'

Of all the artists on Death Row, none of them went bankrupt.

Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.

In 1978, we adopted a new Bankruptcy Code in the United States, and a principal part of this was designed to adjust to the new corporation, to find ways to let a corporation that had gotten into financial trouble reorganize itself. A big part of the selling point on this bankruptcy law was, 'It will preserve jobs.'

Some economists estimate that for every family that goes bankrupt, there are about 15 more who are in the same amount of financial trouble and would profit from bankruptcy but just haven't filed.

Being a starving company isn't fun for anyone. Most that go away need to go away... but certainly not all.

We are broke—bankrupt—really bankrupt!

If a division becomes insolvent, the credit markets' reaction to that is immediate - regardless of what period of time you think you have to remedy.

When our jewellery business went into receivership we avoided bankruptcy by selling our houses and possessions.

Trump Entertainment Resorts declared Chapter 11 bankruptcy. Or as Donald Trump describes Chapter 11, "Back-to-back number ones!"

Financial experts are saying we are entering a new chapter in the American economy. I believe it's Chapter 11.

Giving debt relief to people that really need it, that's what foreclosure is.

If you destroy a firm, you can't pull it out of bankruptcy overnight.