Word: resorting
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Bankruptcy Act of 1898 was the final resort for the debt ridden. Before the revised act went into effect last October, the typical debtor went into "straight bankruptcy": many of his possessions were taken from him and sold. Secured creditors, attorneys' fees, court costs and taxes were paid first. What was left went to the unsecured creditors on a pro rata basis. Many of the creditors remained unpaid, while the debtor had little left with which to start a recovery. Only in about 15% of the cases did debtors choose to proceed under Chapter 13, or the "wage-earners...
Lannon's budget called for closing the Agassiz School and three others--the Lincoln, Hagerty and St. Mary's schools--only as a last resort, if the City Council refuses to allow the school system to exceed the state-mandated...
...janitor at the Audubon, Iowa, high school, A.E. ("Brick") Kness, used to watch mice with a hunter's eye. For a while he even allowed them to nibble contentedly in the lunchroom just so he could study their weaknesses. Brick Kness was not going to resort to easy or familiar solutions. This was the Roaring Twenties. When Americans did things right in those days, they invented something new to do it with...
...nearly instantaneous. One moment Lake Placid was the most tumultuous news spot on earth, the next it was an amiable litter of vacancy signs. One moment it was the riveting center of the media's eldritch universe; the next it was just another out-of-the-way resort more or less waiting for next summer's convention of volunteer firemen...
...theory, IMF could probably step in and handle the job of the world's lender of last resort. The fund already has some $40 billion in credits available to help poor nations pay their oil bills. This bankroll is scheduled to be boosted to $60 billion later this year...