Highlights
USA, Insolvency & Restructuring, Litigation, Holland & Knight LLP, US Congress, Supreme Court of the United States, First Circuit
Bankruptcy Court Rules in Favor of University in Trustee's Suit to Recover Tuition Payments, Then Certifies Trustee's Appeal to First Circuit
HIGHLIGHTS:
USA, Insolvency & Restructuring, Litigation, Public, Holland & Knight LLP, Bankruptcy, First Circuit
The Financial Accounting Standards Board (FASB) issued proposed amendments on June 26, 2013, to provide guidance about management's responsibilities in evaluating a company's going concern uncertainties in addition to the timing and content of related footnote disclosures. Even before a company’s liquidation is imminent, there may be uncertainties about a company’s ability to continue as a going concern and, therefore, about its going concern presumption (going concern uncertainties). Currently, there is no guidance in the U.S.