Kaunas University of Technology
SCHOOL of economics and BUSINESS

department of economics

The Problems Of Bankruptcy Process In Argentina

Semester work

Written by student_: saskia saimol Sebastian (VBa4)
Sajith Saji Nair (VBa3)
)

Accept: dr. Rita Remeikienė

Table of Contents

INDRODUCTION 3 Case Study 1 4 Argentina and 10 Other Countries Facing Bankruptcy 4 Case study 2 6 Argentina Bankruptcy 6 Argentina towards Bankruptcy 6 What Happens When Argentina Goes Bankrupt? 8 Background to the Crisis 9 Argentina's Unemployment Rate 10 The Facts of the Case 12 Riots, Rate, Default and Resignations of Argentina 13 Research Matrix about Bankruptcy 16 CONCLUSION 17 REFERENCE 17

INDRODUCTION

Bankruptcy is a legal proceeding in which a person who cannot pay his or her bills petitions the court to get legal protection from creditors and to obtain a fresh financial start. Although a bankruptcy filing is a court proceeding and all documents are signed under oath. However, in most bankruptcy cases you do not need to go before a judge. At the moment your bankruptcy is filed, the automatic stay goes into effect. The automatic stay immediately stops your creditors from attempting to collect debts from you in any way, including phone calls, letters and pending court proceedings. There are some exceptions to the automatic stay including criminal or government proceedings or those related to most domestic relations matters. Part of the bankruptcy petition is the completion of a Means Test. The Means Test averages then annualizes your gross monthly income for the six months prior to filing to determine your Means Test Income. If your gross income varies from month to month, your Means Test Income may not necessary be your actual annual income. If