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(Corporate Collapse)- Essay on analysing the spanish company "CAM bank" which is in insolvency administration.
Pages 8 (2008 words)
CAJA MEDITERRANEO (CAM) BANK INSOLVENCY By Name Course Tutor’s Name Institution 1st, February, 2013 Caja Mediterraneo (CAM) Bank Insolvency Introduction The insolvency process entails attempts to rescue failing financial institutions. A company is considered bankrupt if it is incapable of paying its debts.
The Balance Sheet Test assesses the value of the assets possessed by a company. If assets are lesser than liabilities, then the company is considered to be in the process of collapsing. For most companies, the insolvency process is considered the last resort. Therefore companies do all they can to avoid the process. The insolvency process is used to rescue companies that have been operating for quite some time but are facing liquidity problems. Moreover, companies with large debts and have lesser liquid assets than the loan are considered incapable of paying their debts. Caja de Ahorros del Mediterraneo was the ninth bank in Spain to collapse. In 2011, FROB rescue managers realized that the bank had several irregularities, which were attributed to creative accounting for personal gains. This paper focuses on analyzing the Spanish company "CAM bank" which is in insolvency administration (Penty 2011, Web). Overview of Caja Mediterraneo (CAM) Bank Caja Mediterraneo, or CAM was a savings bank located in Spain that had to be sold to Banco Sabadell for one Euro. Caja Mediterraneo was a non-profit social institution, which had benefited more than five, 100, 000 people from its social commitments. In 2007, the bank had a budget of 60.1 million euros to be used for social commitment activities. ...
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