Liquidating business issues
This proportion is referred to as the firm's market share and is calculated as follows: Market Share = Firm's Sales / Total Market Sales Sales may be determined on a value basis (sales price multiplied by volume) or on a unit basis (number of units shipped or number of customers served).
While the firm's own sales figures are readily available, total market sales are more difficult to determine.
How and why is a Trustee appointed to a Chapter 7 Bankruptcy case? How is a Panel Trustee appointed to a specific case? In those cases, the trustee files a report of no distribution with the Court to indicate there will be no payment to the creditors.
What are some common reasons for filing a Chapter 7 Bankruptcy? Generally, most assets held by the average debtor are considered to be exempt.
Usually, this information is available from trade associations and market research firms.
Market share often is associated with profitability and thus many firms seek to increase their sales relative to competitors.
When and how are creditors paid by the Panel Trustee? Upon filing of the bankruptcy petition, the debtor turns over all non-exempt property to the court-appointed bankruptcy trustee, who then converts the property to cash to make a distribution to creditors.