Clinical Research Firm, Cetero Research, Files Petitions for Bankruptcy in Delaware
Introduction
On March 26, 2012, Contract Research Solutions, Inc., and certain affiliates (collectively “Cetero”), filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware. In a declaration prepared by Cetero’s Chief Financial Officer (the “Declaration” or “Decl.”), the company stated that prior to filing for bankruptcy it had already secured bankruptcy financing, reached an agreement with certain lenders regarding a sale process and reached a “comprehensive plan support agreement” that the company believes will satisfy its administrative and priority claimants. Decl. at *3. This post will look at Cetero’s business, why the company filed for bankruptcy and what the company’s objectives are while in bankruptcy.
Cetero’s Business Operations
Based in Cary, North Carolina, Cetero provides early phase clinical research through its labs in Florida, Missouri, North Dakota, Texas and Canada. Name-brand pharmaceutical and generic drug companies hire Cetero to provide testing services which are used in new drug applications submitted by the companies to the U.S. Foo
Emini Day Trading: Question and Answers Part 2
Hi All-
As promised, we are continuing our QA on the Tick Trader Day Trading course via video.. Today we go over a couple of more FAQs from emails weve received this week.
On todays menu we have : 1) How much time do you have to enter your trades?
2) What is the risk/reward of your trades.
Both great questions, and I discuss that in todays video with a live example showing todays One and Done trade!!
Enjoy and keep firing off more questions! Call us or email. 904-718-4490
Bring it! Tick Trader Day Trading: Question and Answers Part 2
Is Excess Student Debt Hurting Home Sales?
Many economic analysts are quick to agree that the economic crisis we’re still battling started in the housing market, and that no real recovery will occur until the real estate industry recovers. That analysis is troubling, given a recent report from Bloomberg Businessweek about the link between high levels of student debt and mortgage loans.
It seems that, even for those who earn enough to afford to buy a home (including one woman the article profiled who earns $125,000 per year), banks are largely unwilling to initiate mortgage loans when student debt is too high.
This may be because…
- Student loan debt cannot be discharged in bankruptcy. Even in Chapter 7 bankruptcy, which offers filers a discharge of most of their unsecured debts, student loans are notoriously difficult to eliminate.
- Mortgage lenders are more cautious than they were during the housing bubble. Because of the mayhem caused when the bubble burst, most mortgage lenders are much more selective now than they were a few years ago about initiating mortgage loans. In many ways, this is unsurprising: even those who have high-paying jobs right now may not have those jobs in a few years, when mortgage payments (and student loan payments) will still be due every month.
- While the bankruptcy court has remained strict about repaying student loans, many homeowners have simply abandoned their homes (and mortgages) in recent years when payments became too much. Because of the abuses that led up to the crash in the housing markets, bankruptcy judges have been much more understanding with these so-called “strategic defaults” than they might have been in the past. The stigma of walking away from a home, in other words, has been greatly diminished since the crash of the housing market.
Are Student Loans the Next Bubble?
Some analysts have argued that student loan debt will be the next bubble to burst, once again wreaking havoc on the American economy. Their argument is hard to ignore: since 2001, student loan debt in the U.S. has increased by 600 percent, compared to a less-than-200% increase for mortgage debt.
High levels of student debt, combined with a weakened job market (especially for young, fresh-out-of-college employees) mean that those massive student loans have become harder than ever to repay.
If the trend of withholding mortgage loans from those with high student debt—even when those borrowers earn enough money to otherwise qualify for a mortgage—the U.S. housing market could take much longer to recover than originally thought.
After all, a whole generation of first-time homebuyers might be shut out of the market as their student loans prevent them from getting the mortgage loans they need to make purchase real estate.
Paying Taxes with Credit Cards: The Dos and Don’ts
Unfortunately, many Americans will see a bill from Uncle Sam instead of a refund this tax season. Underpaying throughout the year can lead to a hefty sum by April 17, one that is difficult to bear. If you are wondering, “How can I fix my credit and pay my tax bill?” you may be looking for a way out. In the height of panic, some people use their credit cards to stifle anxiety. Don’t let stress overshadow your judgment, however.
Working toward credit repair is a multifaceted process, one that can be sabotaged with poor decisions. In that regard, choosing to pay bills with a credit card is risky, especially as a means to an end. Taking on one debt to cover another is never the answer. That said, there are certain benefits and considerations to doing so. Consider the following dos and don’ts of charging your tax bill.
Do:
• Consider the long-term commitment. The main benefit of charging your tax bill is time. If you ca
Do you need to carry a card balance to build good credit?
I just received a credit card with a $1,000 limit. I want to improve my credit. Is it better to pay off a credit card as soon as the bill comes in or to make a charge and then pay in installments over a short period of time?
Congratulations on taking steps toward a better credit rating. My recommendation is for you to use your new credit card by only charging what you can pay off each month in full. You do not need to carry a balance on your revolving accounts to help improve your credit. What you need to do is demonstrate that you can manage a revolving account without any problems. Making on-time and as-agreed payments on the credit card account will accomplish that goal. Also, paying off your purchases each month rather than carrying a balance will keep your credit-used-to-credit-available ratio (also called your utilization rate) at 0 percent. It’s highly recommended that your utilization rate at less than 30 percent in order to keep a good credit score.
Massachusetts Civil Engineering Firm Files Chapter 7, Closes Doors
Cullinan Engineering Co. Inc., established in 1940, one of Massachusetts’s most prominent civil engineering firms, has closed following its bankruptcy filing. The company had employed 50 technical professionals and support staff.
Robert B. Cullinan, company president, signed the Chapter 7 bankruptcy filing this summer, stating that his company had $22,545 in assets and $1,350,465 in liabilities.
In an article by Ellie Oleson on www.telegram.com , Town Planner Adam R. Burney said the company’s closing “leaves a big hole in the community…They were one of the few shops who had comprehensive staff with their own survey crews. Anytime