Several banking firms and many individual creditors were ruined by the death of the pope.
With these the creditors could purchase national land, the assignatshaving, for this purpose, the preference over other forms of money.
The Law company eventually came to an end fatal to its creditors in France, but its misfortunes did not check the prosperity of " Louisiana."
The debts of the former are stated in the preface to the budget to be very large, and as payments are effected fresh creditors present themselves with undeniable vouchers in their hands, causing much embarrassment to the minister of finance: no figures, however, are given.
Now and then it has been dealt with piecemeal, when some particular class of creditors has become too pressing, but it is more than probable that the piece got rid of has been more or less rapidly replaced by fresh liabilities occasioned by budgetary deficits, or by the mere accumulation of interest on debts allowed to run on.
To escape the urgent demands of his creditors, he VIII.
Another state could do so, however, and in 1904, certain creditors having given ten of their bonds to South Dakota, the case of South Dakota versus North Carolina came before the Supreme Court.
Byllynge, having become embarrassed in his circumstances, placed his interest in the land in the hands of Penn and Bothers as trustees for his creditors; they invited buyers, and companies of Quakers in Yorkshire and London were amongst :the largest purchasers.
The enslavement of creditors, overwhelmed with usury in consequence of losses by hostile raids or their own absence on military service, led to the secession to the Mons Sacer (493 B.C.).
The Poetelian law (326 B.C.) restricted the creditor's lien (by virtue of a nexum) to the goods of his debtor, and enacted that for the future no debtor should be put in chains; but we hear of debtors addicti to their creditors by the tribunals long after - even in the time of the Punic Wars.
Ten years later, when the currency had fallen to 51 pence per milreis, the government found itself unable to meet the interest obligations on its debt and railway guarantees, and an arrangement was made with its creditors in London for the issue of a 5% funding loan to an amount not to exceed £10,000,000, and the suspension of all amortization for thirteen years.
The president-elect accordingly undertook with the full approval of Dr Moraes, who was still in office, the task of visiting Europe with the object of endeavouring to make an arrangement with the creditors of the state for a temporary suspension of payments.
The property of the corporation was valued at £271,658 against a debt of £425,195, which was compounded for by the issue of 3% annuity bonds - the loss to the creditors amounting to 25% of their claims.
His debts were enormous, and in 1675 he resolved to make over to his creditors all his income except twenty thousand livres, and, as he said, to "live for" them.
His finances, therefore, remained embarrassed despite the comparative pause in the war, although in 1339 he had repudiated his debt to his Italian creditors, a default that brought about widespread misery in Florence.
The Vienna Creditors' Association for the protection of claims in bankruptcies had in 1909- It fresh failures with liabilities of 45, 40 and 43 millions of kronen respectively.
An arrangement with the creditors was concluded in 1888; but in 1895 the republic again became bankrupt, and a fresh arrangement was sanctioned in March 1897, by which the interest on £1,475,000 was reduced to 22% and that on £525,000 to 3%.
After some delay, said to have been caused by the exigencies of his creditors, which were met by a loan of f 200,000 from Crassus, Caesar left Rome for his province of Further Spain, where he was able to retrieve his financial position, and to lay the foundations of a military reputation.
Jecker's creditors were mostly French, but he still held most of the bonds, and there is reason to believe that he won over Dubois de Saligny by corrupt means to support his claims. Intercepted correspondence (since confirmed from the archives of the Tuileries) showed that the Duc de Morny promised Jecker his patronage in return for 30% of the profits (De la Gorce, Hist.
He had to meet the cardinal's creditors and to find money for the expenses of the household.
The right of presentation may be exercised by its owner whether he be an infant, executors, trustees, coparceners (who, if they cannot agree, present in turn in order of age) or mortgagee (who must present the nominee of the mortgagor), or a bankrupt (who, although the advowson belongs to his creditors, yet has the right to present to a vacancy).
In the spring of 1833 the store's stock was sold to satisfy its creditors, and Lincoln assumed the firm's debts, which he did not fully pay off for fifteen years.
In 1875 the 1ea~jflgto impoverishment of the fellah had reached such a ~he depoint that the ordinary resources of the country no Pofo~.kmo:I, longer sufficed for the most urgent necessities of administration; and the khedive Ismail, having repeatedly broken faith with his creditors, could not raise any more loans on the European market.
By the influence of his countless creditors, who desired to be paid out of his estates, and in revenge for his seizure, on claims for debts, of the whole estates of clan Maclean (1674-1680), he was tried and was actually found guilty of treason.
In June 1775 he took his seat in the 1 It was embarrassed with a debt, however, of £3749, which, owing to conditions caused by the War of Independence, he really paid three times to his British creditors (not counting destruction on his estates, of equal amount, ordered by Lord Cornwallis).
Guilty officials having been severely punished, the fraudulent creditors of the government remained to be dealt with.
Financial embarrassments a short time afterward caused Byllynge to assign his shares in trust for his creditors to three Quakers, William Penn, Gawen Lawrie and Nicholas Lucas.
Sir George Carteret had bequeathed his province to eight trustees, who were to administer it for the benefit of his creditors, and for the next two years the government was conducted in the name of his widow and executrix, Lady Elizabeth.
If during his term of office a member of the council becomes bankrupt, or compounds with his creditors, or is (except in case of illness) continuously absent from the county, being chairman for more than two months, or being alderman or councillor for more than six months, his office becomes vacant by declaration of the council.
A councillor may be disqualified in the same way as a county councillor, by bankruptcy or composition with creditors, or continuous absence from the borough (except in case of illness).
Their restoration was, however, soon effected; the constitution was reformed in 1843 education was fostered, and a treaty concluded with the English creditors of the republic. Further progress was made under General Tomas de Mosquera from 1845 to 1848; a large part of the domestic debt was cleared off, immigration was encouraged, and free trade permitted in gold and tobacco.
The attempt of the latter to utilize Gordon as a counterpoise to the European financiers having failed, Ismail fell into the hands of his creditors, and was deposed by the sultan in the following year in favour of his son Tewfik.
The disagreeable impression on the public mind thus created was deepened by an unfortunate litigation, lasting for two years (1904-1906), over the deceased queen's will, in which the creditors of the princess Louise, together with princess Stephanie (Countess Lonyay), claimed that under the Belgian law the queen's estate was entitled to half of her husband's property.
The creditors of the state had to suffer several suspensions of payments of their dues, and reductions both of capital and interest.
Consequently, the Spanish government had once more to attempt to make both ends meet by asking its creditors to assent to the suppression of all the amortization of imperial and colonial debts, and to a tax of 20% on the coupons of all the debts, whilst at the same time the Cortes were asked to authorize a consolidation and liquidation of the floating and war debts and an annual increase of 3,200,000 in already heavy taxation.
Next came the crowd of stockholders and creditors of the state, who, in face of the governments extravagant anarchy, no longer felt safe from partial or total bankruptcy.
The creditors threatened to surrender him to Henry VII., but, more fortunate than his brother, he found a safe refuge at Buda with King Ladislas VI.
But nobody was wronged; his creditors were all paid in time, and his hands were at least clean of traffic in reversions, clerkships, tellerships and all the rest of the rich sinecures which it was thought no shame in those days for the aristocracy of the land and the robe to wrangle for, and gorge themselves upon, with the fierce voracity of famishing wolves.
The real point of this superb declamation was Burke's conviction that ministers supported the claims of the fraudulent creditors in order to secure the corrupt advantages of a sinister parliamentary interest.
The khedive, however, felt compelled, when as a sop to his European creditors he assumed the position of a constitutional monarch, to nominate Riaz as a member of the first Egyptian cabinet.
It was admitted that he had borrowed largely from the treasury, on the security of his civil list, and the Republican deputies accused him of endeavouring to assign the tobacco monopoly to one of his own foreign creditors, in settlement of the debt.
Laurent tells us that the present government having found it absolutely impossible to arrive at even an approximate estimate of this " occult debt," recourse was had, in order to fix it, to the creditors themselves, and a short act of parliament was passed declaring all debts prescribed which should not be claimed by a fixed date.