Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order , often initiated by the debtor .
137-593: The Miami Seahawks were a professional American football team based in Miami, Florida . They played in the All-America Football Conference (AAFC) in the league's inaugural season, 1946, before the team was relocated to Baltimore. They are notable as the first major league sports franchise in Miami. The Seahawks were coached initially by Jack Meagher and then by Hamp Pool . The team faced
274-403: A halftime period, and the first and third quarters are followed by a short break. Before the game starts, the referee and each team's captain meet at midfield for a coin toss . The visiting team can call either "heads" or "tails"; the winner of the toss chooses whether to receive or kick off the ball or which goal they wish to defend. They can defer their choice until the second half. Unless
411-401: A 10-yard-long chain between them, are used to measure for a first down. The chain crew stays on the sidelines during the game, but if requested by the officials they will briefly bring the chains on to the field to measure. A typical chain crew will have at least three people—two members of the chain crew will hold either of the two sticks, while a third will hold the down marker. The down marker,
548-525: A PAT attempt or successful field goal, the scoring team must kick the ball off to the other team. A safety is scored when the ball carrier is tackled in the carrier's own end zone. Safeties are worth two points, which are awarded to the defense. In addition, the team that conceded the safety must kick the ball to the scoring team via a free kick . Football games are played on a rectangular field that measures 120 yards (110 m) long and 53 + 1 ⁄ 3 yards (48.8 m) wide. Lines marked along
685-562: A Statement of Affairs document, also known as a Bankruptcy Form, with AFSA, which includes important information about their assets and liabilities. A bankruptcy cannot be discharged until this document has been lodged. Ordinarily, a bankruptcy lasts three years from the filing of the Statement of Affairs with AFSA. A Bankruptcy Trustee (in most cases, the Official Trustee at AFSA) is appointed to deal with all matters regarding
822-500: A bankrupt may be able to raise enough funds to make an Offer of Composition to creditors, which would have the effect of paying the creditors some of the money they are owed. If the creditors accept the offer, the bankruptcy can be annulled after the funds are received. After the bankruptcy is annulled or the bankrupt has been automatically discharged, the bankrupt's credit report status is shown as "discharged bankrupt" for some years. The maximum number of years this information can be held
959-439: A debtor attempts to later assert ownership of such an "unscheduled asset" after being discharged of all debt in the bankruptcy. The trustee may then seize the asset and liquidate it for the benefit of the (formerly discharged) creditors. Whether or not a concealment of such an asset should also be considered for prosecution as fraud or perjury would then be at the discretion of the judge or U.S. Trustee. In some countries, such as
1096-410: A debtor making monthly payments for a maximum of five years, with the funds distributed to their creditors. Even though most proposals call for payments of less than the full amount of the debt owing, in most cases, the creditors accept the deal—because if they do not, the next alternative may be personal bankruptcy, in which the creditors get even less money. The creditors have 45 days to accept or reject
1233-613: A debtor with debts to a maximum of $ 250,000 (not including the mortgage on their principal residence). If debts are greater than $ 250,000, the proposal must be filed under Division 1 of Part III of the Bankruptcy and Insolvency Act . An Administrator is required in the Consumer Proposal, and a Trustee in the Division I Proposal (these are virtually the same although the terms are not interchangeable). A Proposal Administrator
1370-603: A difficult schedule filled with many early road games , and finished the 14-game regular season at 3–11, last in the AAFC. The franchise, which by that time had accrued $ 350,000 in debt, was seized by the AAFC after the end of the season after its owner was declared bankrupt, and its assets were purchased by a group of entrepreneurs who reorganized it as the original incarnation of the Baltimore Colts . Florida did not have another professional football team for 20 years, until
1507-455: A fair and orderly manner by all licensed Trustees in Canada. Trustees in bankruptcy, 1041 individuals licensed to administer insolvencies, bankruptcy and proposal estates are governed by the Bankruptcy and Insolvency Act of Canada. Bankruptcy is filed when a person or a company becomes insolvent and cannot pay their debts as they become due and if they have at least $ 1,000 in debt. In 2011,
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#17327657654121644-453: A field goal instead. A group of officials, the chain crew, keeps track of both the downs and the distance measurements. On television, a yellow line is electronically superimposed on the field to show the first down line to the viewing audience. There are two categories of kicks in football: scrimmage kicks, which can be executed by the offensive team on any down from behind or on the line of scrimmage, and free kicks. The free kicks are
1781-457: A group of Princeton players realized that, as the snap was uncontested, they could now hold the ball indefinitely to prevent their opponent from scoring. In 1881, in a game between Yale and Princeton, both teams used this strategy to maintain their undefeated records. Each team held the ball, gaining no ground, for an entire half, resulting in a 0–0 tie. This "block game" proved extremely unpopular with both teams' spectators and fans. A rule change
1918-533: A large stick with a dial on it, is flipped after each play to indicate the current down and is typically moved to the approximate spot of the ball. The chain crew system has been used for over 100 years and is considered an accurate measure of distance, rarely subject to criticism from either side. Football is a full-contact sport, and injuries are relatively common. Most injuries occur during training sessions, particularly ones that involve contact between players. To try to prevent injuries, players are required to wear
2055-714: A lease at the Orange Bowl. Wilson eventually established his team in Buffalo, New York where they became the Buffalo Bills . However, once it became clear that the AFL was a far more viable venture, the municipal government reversed its stance. In 1965, the AFL awarded an expansion franchise to lawyer Joe Robbie and actor Danny Thomas , the Miami Dolphins , which would become a far more successful team on and off
2192-408: A long circumference of 28 to 28 + 1 ⁄ 2 inches (71 to 72 cm), and a short circumference of 21 to 21 + 1 ⁄ 4 inches (53 to 54 cm). In college and high school play the ball has a long axis of 10 + 7 ⁄ 8 to 11 + 7 ⁄ 16 inches (27.6 to 29.1 cm), a long circumference of 27 + 3 ⁄ 4 to 28 + 1 ⁄ 2 inches (70 to 72 cm), and
2329-420: A minimum of 10 feet (3.0 m) on high school fields. Goal posts are padded at the base, and orange ribbons are normally placed at the tip of each upright as indicators of wind strength and direction. The football itself is a prolate spheroid leather ball, similar to the balls used in rugby or Australian rules football . To contain the compressed air within it, a pig's bladder was commonly used before
2466-510: A modified scoring system. These schools formed the Intercollegiate Football Association , although Yale did not join until 1879. Yale player Walter Camp , now regarded as the "Father of American Football", secured rule changes in 1880 that reduced the size of each team from 15 to 11 players and instituted the snap to replace the chaotic and inconsistent scrum . While the game between Rutgers and Princeton
2603-593: A paltry total of 49,151 fans paid to attend the Seahawks' home games: this included a miserable 2,340 against Brooklyn, the second lowest attendance at any professional football game since 1939 (excluding 2020, when the COVID-19 pandemic severely limited attendance). Further, Cleveland and San Francisco had completed their 14-game regular seasons before the Seahawks hosted their final two home games. The team also played all of its November home games on Monday nights,
2740-985: A partial discharge of the student loan. Student loan borrowers may benefit from restructuring their payments through a Chapter 13 bankruptcy repayment plan, but few qualify for discharge of part or all of their student loan debt. Bankruptcy fraud is a white-collar crime most typically involving concealment of assets by a debtor to avoid liquidation in bankruptcy proceedings. It may include filing of false information, multiple filings in different jurisdictions, bribery, and other acts. While difficult to generalize across jurisdictions, common criminal acts under bankruptcy statutes typically involve concealment of assets, concealment or destruction of documents, conflicts of interest, fraudulent claims, false statements or declarations, and fee fixing or redistribution arrangements. Falsifications on bankruptcy forms often constitute perjury . Multiple filings are not in and of themselves criminal, but they may violate provisions of bankruptcy law. In
2877-477: A pass hits the ground without a player having caught it. A forward pass can be legally attempted only if the passer is behind the line of scrimmage; only one forward pass can be attempted per down. As in rugby, players can also pass the ball backwards at any point during a play. In the NFL, a down also ends immediately if the runner's helmet comes off. The offense is given a series of four plays, known as downs . If
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#17327657654123014-465: A person bankrupt by compulsory procedure. Basically, these obligations are derived from the legal acts of the court, transactions, the obligation of the debtor to pay taxes, duties, and other fees defined by law. At the same time, when being declared bankrupt with a voluntary bankruptcy application, the applicant bears the obligation to prove the fact that the value of his assets is less than his assets by one million AMD or more. In Australia, bankruptcy
3151-583: A player being paid to participate in a game of American football , although many athletic clubs in the 1880s offered indirect benefits, such as helping players attain employment, giving out trophies or watches that players could pawn for money, or paying double in expense money. Despite these extra benefits, the game had a strict sense of amateurism at the time, and direct payment to players was frowned upon, if not prohibited outright. Over time, professional play became increasingly common, and with it came rising salaries and unpredictable player movement, as well as
3288-427: A quarter ends, play continues until the down is completed. If certain fouls are committed during play while time has expired, the quarter may be extended through an untimed down . Games last longer than their defined length due to play stoppages—the average NFL game lasts slightly over three hours. Time in a football game is measured by the game clock. An operator is responsible for starting, stopping and operating
3425-456: A rectangular field with goalposts at each end. The offense , the team with possession of the oval-shaped football , attempts to advance down the field by running with the ball or throwing it , while the defense , the team without possession of the ball, aims to stop the offense's advance and to take control of the ball for themselves. The offense must advance the ball at least ten yards in four downs or plays; if they fail, they turn over
3562-433: A reduction of 8.6% over 2010. Some of the duties of the trustee in bankruptcy are to: Creditors become involved by attending creditors' meetings. The trustee calls the first meeting of creditors for the following purposes: In Canada, a person can file a consumer proposal as an alternative to bankruptcy. A consumer proposal is a negotiated settlement between a debtor and their creditors. A typical proposal would involve
3699-511: A round ball. An 1875 Harvard–Yale game played under rugby-style rules was observed by two Princeton athletes who were impressed by it. They introduced the sport to Princeton, a feat the Professional Football Researchers Association compared to "selling refrigerators to Eskimos ". Princeton, Harvard, Yale, and Columbia then agreed to intercollegiate play using a form of rugby union rules with
3836-436: A secondary signal. Women can serve as officials; Sarah Thomas became the NFL's first female official in 2015. The seven officials (of a standard seven-man crew; lower levels of play up to the college level use fewer officials) on the field are each tasked with a different set of responsibilities: Another set of officials, the chain crew , are responsible for moving the chains. The chains, consisting of two large sticks with
3973-403: A separate sport from rugby, and the resulting five-yard lines added to the field to measure distances made it resemble a gridiron in appearance. Other major rule changes included a reduction of the field size to 110 by 53 + 1 ⁄ 3 yards (100.6 m × 48.8 m) and the adoption of a scoring system that awarded four points for a touchdown, two for a safety and a goal following
4110-519: A set of equipment. At a minimum players must wear a football helmet and a set of shoulder pads , but individual leagues may require additional padding such as thigh pads and guards, knee pads, chest protectors, and mouthguards . Most injuries occur in the lower extremities, particularly in the knee, but a significant number also affect the upper extremities. The most common types of injuries are strains , sprains , bruises , fractures , dislocations , and concussions . Bankruptcy Bankrupt
4247-410: A short circumference of 20 + 3 ⁄ 4 to 21 + 1 ⁄ 4 inches (53 to 54 cm). Football games last for a total of 60 minutes in professional and college play and are divided into two halves of 30 minutes and four quarters of 15 minutes. High school football games are 48 minutes in length with two halves of 24 minutes and four quarters of 12 minutes. The two halves are separated by
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4384-416: A touchdown , and five for a goal from the field . Additionally, tackling below the waist was legalized, and a static line of scrimmage was instituted. Despite these new rules, football remained a violent sport. Dangerous mass-formations like the flying wedge resulted in serious injuries and deaths. A 1905 peak of 19 fatalities nationwide resulted in a threat by President Theodore Roosevelt to abolish
4521-400: Is a court procedure required by the debtor which has been in business for more than two years and requires approval by a judge. The Extrajudicial Restructuring ( Recuperação Extrajudicial ) is a private negotiation that involves creditors and debtors and, as with court-ordered restructuring, also must be approved by courts. Bankruptcy, also referred to as insolvency in Canada, is governed by
4658-464: Is a payment period of three years; however, the court reserves the right to increase or decrease the period depending upon the circumstances of the case. If the debtor has no proven financial ability to pay the creditors, he may be granted an immediate discharge. Since 1996, Israeli personal bankruptcy law has shifted to a relatively debtor-friendly regime, not unlike the American model. In May 2016,
4795-460: Is a sport in which two competing teams vie for control of a ball, which can be kicked through a set of goalposts or run into the opponent's goal area to score points. What is considered to be the first American football game was played on November 6, 1869 , between Rutgers and Princeton , two college teams. They consisted of 25 players per team and used a round ball that could not be picked up or carried. It could, however, be kicked or batted with
4932-561: Is a status which applies to individuals and is governed by the federal Bankruptcy Act 1966 . Companies do not go bankrupt but rather go into liquidation or administration , which is governed by the federal Corporations Act 2001 . If a person commits an act of bankruptcy, then a creditor can apply to the Federal Circuit Court or the Federal Court for a sequestration order . Acts of bankruptcy are defined in
5069-559: Is above a certain threshold. If the bankrupt fails to pay, the trustee can ask the Official Receiver to issue a notice to garnishee the bankrupt's wages. If that is not possible, the Trustee may seek to extend the bankruptcy for a further three or five years. Bankruptcies can be annulled, and the bankrupt released from bankruptcy, prior to the expiration of the normal three-year period if all debts are paid out in full. Sometimes
5206-515: Is almost always a licensed trustee in bankruptcy, although the Superintendent of Bankruptcy may appoint other people to serve as administrators. In 2006, there were 98,450 personal insolvency filings in Canada: 79,218 bankruptcies and 19,232 consumer proposals. In Canada, bankruptcy always means liquidation. There is no way for a company to emerge from bankruptcy after restructuring, as
5343-531: Is also documented in East Asia . According to al-Maqrizi , the Yassa of Genghis Khan contained a provision that mandated the death penalty for anyone who became bankrupt three times. A failure of a nation to meet bond repayments has been seen on many occasions. In a similar way, Philip II of Spain had to declare four state bankruptcies in 1557, 1560, 1575 and 1596. According to Kenneth S. Rogoff, "Although
5480-425: Is called on the offense. There are two main ways the offense can advance the ball: running and passing . In a typical play, the center passes the ball backwards and between their legs to the quarterback in a process known as the snap . The quarterback then either hands the ball off to a running back, throws the ball, or runs with it. The play ends when the player with the ball is tackled or goes out-of-bounds or
5617-437: Is caught or recovered behind the line of scrimmage. If it is touched or recovered by the kicking team beyond this line, it becomes dead at the spot where it was touched. The kicking team is prohibited from interfering with the receiver's opportunity to catch the ball. The receiving team has the option of signaling for a fair catch , which prohibits the defense from blocking into or tackling the receiver. The play ends as soon as
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5754-579: Is commonly considered the first American football game, several years prior in 1862, the Oneida Football Club formed as the oldest known football club in the United States. The team consisted of graduates of Boston's elite preparatory schools and played from 1862 to 1865. The introduction of the snap resulted in an unexpected consequence. Before the snap, the strategy had been to punt if a scrum resulted in bad field position. However,
5891-403: Is known as a two-point conversion . In general, the extra point is almost always successful, while the two-point conversion is a much riskier play with a higher probability of failure; accordingly, extra point attempts are far more common than two-point conversion attempts. A field goal (FG), worth three points, is scored when the ball is place kicked or drop kicked through the uprights and over
6028-491: Is not the only legal status that an insolvent person may have, and the term bankruptcy is therefore not a synonym for insolvency . The word bankruptcy is derived from Italian banca rotta , literally meaning ' broken bank ' . The term is often described as having originated in Renaissance Italy , where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment. However,
6165-407: Is responsible for all kicking plays. The special teams unit of the team in control of the ball tries to execute field goal (FG) attempts, punts , and kickoffs , while the opposing team's unit will aim to block or return them. Three positions are specific to the field goal and PAT (point-after-touchdown) unit: the placekicker (K or PK), holder (H), and long snapper (LS). The long snapper's job
6302-557: Is subject to the retention limits under the Privacy Act. How long such information is on a credit report may be shorter, depending on the issuing company, but the report must cease to record that information based on the criteria in the Privacy Act. In Brazil , the Bankruptcy Law (11.101/05) governs court-ordered or out-of-court receivership and bankruptcy and only applies to public companies (publicly traded companies) with
6439-459: Is the case in the United States with a Chapter 11 bankruptcy filing. Canada does, however, have laws that allow for businesses to restructure and emerge later with a smaller debt load and a more positive financial future. While not technically a form of bankruptcy, businesses with $ 5M or more in debt may make use of the Companies' Creditors Arrangement Act to halt all debt recovery efforts against
6576-421: Is to block members of the defensive line from tackling the ball carrier on running plays or sacking the quarterback on passing plays. The leader of the offensive line is the center, who is responsible for snapping the ball to the quarterback, blocking, and for making sure that the other linemen do their jobs during the play. On either side of the center are the guards (G), while tackles (T) line up outside
6713-400: Is to liquidate company assets and pay its creditors. The second one is Court-ordered Restructuring ( Recuperação Judicial ). The goal is to overcome the business crisis situation of the debtor in order to allow the continuation of the producer, the employment of workers and the interests of creditors, leading, thus, to preserving company, its corporate function and develop economic activity. It
6850-437: Is to snap the football to the holder, who will catch and position it for the placekicker. There is not usually a holder on kickoffs, because the ball is kicked off a tee; however, a holder may be used in certain situations, such as if wind is preventing the ball from remaining upright on the tee. The player on the receiving team who catches the ball is known as the kickoff returner (KR). The positions specific to punt plays are
6987-571: The Bankruptcy and Insolvency Act and is applicable to businesses and individuals. For example, Target Canada , the Canadian subsidiary of the Target Corporation , the second-largest discount retailer in the United States filed for bankruptcy on January 15, 2015, and closed all of its stores by April 12. The office of the Superintendent of Bankruptcy , a federal agency , is responsible for ensuring that bankruptcies are administered in
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#17327657654127124-776: The Bowl Championship Series (BCS) in 1997. The BCS arrangement proved to be controversial , and was replaced in 2014 by the College Football Playoff (CFP). A football game is played between two teams of 11 players each. Playing with more on the field is punishable by a penalty. Teams may substitute any number of their players between downs; this "platoon" system replaced the original system, which featured limited substitution rules, and has resulted in teams utilizing specialized offensive, defensive and special teams units. The number of players allowed on an active roster varies by league;
7261-598: The NCAA and the NAIA . The National Football League (NFL) has the highest average attendance of any professional sports league in the world . Its championship game, the Super Bowl , ranks among the most-watched club sporting events globally. In 2022, the league had an annual revenue of around $ 18.6 billion, making it the most valuable sports league in the world. Other professional and amateur leagues exist worldwide, but
7398-804: The Parliament of India passed the Insolvency and Bankruptcy Code (IBC), updating outdated corporate insolvency laws. The IBC streamlined the process, reducing delays from a decade to 180 days, and replaced the Board for Industrial and Financial Reconstruction (BIFR) with a market-driven approach. Dutch bankruptcy law is governed by the Dutch Bankruptcy Code ( Faillissementswet ). The code covers three separate legal proceedings. Federal Law No. 127-FZ "On Insolvency (Bankruptcy)" dated 26 October 2002 (as amended) (the "Bankruptcy Act"), replacing
7535-700: The United Kingdom , bankruptcy is limited to individuals; other forms of insolvency proceedings (such as liquidation and administration ) are applied to companies. In the United States , bankruptcy is applied more broadly to formal insolvency proceedings. In some countries, such as in Finland, bankruptcy is limited only to companies and individuals who are insolvent are condemned to de facto indentured servitude or minimum social benefits until their debts are paid in full, with accrued interest except when
7672-412: The center (C), are allowed to line up in or cross the neutral zone until the ball is snapped. Interior offensive linemen are not allowed to move until the snap of the ball. The main backfield positions are the quarterback (QB), halfback/tailback (HB/TB), and fullback (FB). The quarterback is the leader of the offense. Either the quarterback or a coach calls the plays. Quarterbacks typically inform
7809-409: The commissioner . NCAA and NFHS teams are "strongly advised" to number their offensive players according to a league-suggested numbering scheme. Although the sport is played almost exclusively by men, women are eligible to play in high school, college, and professional football. No woman has ever played in the NFL, but women have played in high school and college football games. In 2018, 1,100 of
7946-443: The forward pass , created the neutral zone , and specified the size and shape of the football. The sport is closely related to Canadian football , which evolved in parallel with and at the same time as the American game, although its rules were developed independently from those of Camp. Most of the features that distinguish American football from rugby and soccer are also present in Canadian football. The two sports are considered
8083-411: The kickoff , which starts the first and third quarters and overtime and follows a try attempt or a successful field goal; the safety kick follows a safety. On a kickoff, the ball is placed at the 35-yard line of the kicking team in professional and college play and at the 40-yard line in high school play. The ball may be drop kicked or place kicked. If a place kick is chosen, the ball can be placed on
8220-407: The neutral zone was created along the width of the football before the snap. Scoring was also adjusted: points awarded for field goals were reduced to three in 1909 and points for touchdowns were raised to six in 1912. Also in 1912, the field was shortened to 100 yards (91 m) long, two 10-yard-long (9.1 m) end zones were created, and teams were given four downs instead of three to advance
8357-407: The punter (P), long snapper, upback , and gunner . The long snapper snaps the football directly to the punter, who then drops and kicks it before it hits the ground. Gunners line up split outside the line and race down the field, aiming to tackle the punt returner (PR)—the player who catches the punt. Upbacks line up a short distance behind the line of scrimmage, providing additional protection to
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#17327657654128494-623: The (fourth) American Football League (founded in 1960) added the Miami Dolphins in 1966, while the Seahawks name would be revived when the National Football League added the Seattle Seahawks in 1976 after a public vote of possible names. Neither of these teams are considered to be related to the Miami AAFC team. The Miami Seahawks were the last of the AAFC's charter teams to be established: originally, there
8631-413: The 1966 season. Once the merger was completed, it was no longer a championship game between two leagues and reverted to the NFL championship game, which came to be known as the Super Bowl . College football maintained a tradition of postseason bowl games . Each bowl game was associated with a particular conference and earning a spot in a bowl game was the reward for winning a conference. This arrangement
8768-567: The 225,000 players in Pop Warner Little Scholars youth football were girls, and around 11% of the 5.5 million Americans who report playing tackle football are female according to the Sports and Fitness Industry Association. The role of the offensive unit is to advance the football down the field with the ultimate goal of scoring a touchdown . The offensive team must line up in a legal formation before they can snap
8905-628: The EU, with the UK coming closest to the US system (Reifner et al., 2003; Gerhardt, 2009; Frade, 2010). The Other Member States do not provide the option of a debt discharge. Spain, for example, passed a bankruptcy law ( ley concurs ) in 2003 which provides for debt settlement plans that can result in a reduction of the debt (maximally half of the amount) or an extension of the payment period of maximally five years (Gerhardt, 2009), but it does not foresee debt discharge. In
9042-549: The Enforcement and Collection Authority. Insolvency proceedings above NIS 150,000 individual debtors file the documents will be conducted before the official receiver (the Insolvency Commissioner) and, if a creditor want to file against a debtor, he needs to open process, before the magistrate's court that hears in the district. Company bankruptcy will be conducted before District Court. Simultaneously, with
9179-516: The NFL had established itself as America's premier professional football league. The dominant form of football at the time was played at the collegiate level . The upstart NFL received a boost to its legitimacy in 1925, however, when an NFL team, the Pottsville Maroons , defeated a team of Notre Dame all-stars in an exhibition game . A greater emphasis on the passing game helped professional football to distinguish itself further from
9316-570: The NFL has a 53-man roster, while NCAA Division I allows teams to have 63 scholarship players in the FCS and 85 scholarship players in the FBS, respectively. Individual players in a football game must be designated with a uniform number between 1 and 99, though some teams may "retire" certain numbers , making them unavailable to players. NFL teams are required to number their players by a league-approved numbering system, and any exceptions must be approved by
9453-518: The Superintendent of Bankruptcy reported that trustees in Canada filed 127,774 insolvent estates. Consumer estates were the vast majority, with 122 999 estates. The consumer portion of the 2011 volume is divided into 77,993 bankruptcies and 45,006 consumer proposals. This represented a reduction of 8.9% from 2010. Commercial estates filed by Canadian trustees in 2011 4,775 estates, 3,643 bankruptcies and 1,132 Division 1 proposals. This represents
9590-486: The Trustee's request to provide details of income, the trustee may have grounds to lodge an Objection to Discharge, which has the effect of extending the bankruptcy for a further three or five years depending on the type of Objection. The realisation of funds usually comes from two main sources: the bankrupt's assets and the bankrupt's wages. There are certain assets that are protected, referred to as protected assets . These include household furniture and appliances, tools of
9727-443: The U.S., bankruptcy fraud statutes are particularly focused on the mental state of particular actions. Bankruptcy fraud is a federal crime in the United States. Bankruptcy fraud should be distinguished from strategic bankruptcy , which is not a criminal act since it creates a real (not a fake) bankruptcy state. However, it may still work against the filer. All assets must be disclosed in bankruptcy schedules whether or not
9864-455: The US, it is very difficult to discharge federal or federally guaranteed student loan debt by filing bankruptcy. Unlike most other debts, those student loans may be discharged only if the person seeking discharge establishes specific grounds for discharge under the Brunner test, under which the court evaluates three factors: Even if a debtor proves all three elements, a court may permit only
10001-494: The administration of the bankrupt estate. The Trustee's job includes notifying creditors of the estate and dealing with creditor inquiries; ensuring that the bankrupt complies with their obligations under the Bankruptcy Act; investigating the bankrupt's financial affairs; realising funds to which the estate is entitled under the Bankruptcy Act and distributing dividends to creditors if sufficient funds become available. For
10138-460: The advent of artificial rubber inside the leather outer shell to sustain crushing forces . At all levels of play, the football is inflated to 12 + 1 ⁄ 2 to 13 + 1 ⁄ 2 psi (86 to 93 kPa), or just under one atmosphere, and weighs 14 to 15 ounces (400 to 430 g); beyond that, the exact dimensions vary slightly. In professional play the ball has a long axis of 11 to 11 + 1 ⁄ 4 inches (28 to 29 cm),
10275-572: The ball 10 yards (9.1 m). The roughing the passer penalty was implemented in 1914, and eligible players were first allowed to catch the ball anywhere on the field in 1918. On November 12, 1892, Pudge Heffelfinger was paid $ 500 (equivalent to $ 16,956 in 2023) to play a game for the Allegheny Athletic Association against the Pittsburgh Athletic Club . This is the first recorded instance of
10412-435: The ball is caught, and the ball may not be advanced. Officials are responsible for enforcing game rules and monitoring the clock. All officials carry a whistle and wear black-and-white striped shirts and black hats except for the referee, whose hat is white. Each carries a weighted yellow flag that is thrown to the ground to signal that a foul has been called. An official who spots multiple fouls will throw their hat as
10549-430: The ball. An offensive formation is considered illegal if there are more than four players in the backfield or fewer than five players numbered 50–79 on the offensive line. Players can line up temporarily in a position whose eligibility is different from what their number permits as long as they report the change immediately to the referee, who then informs the defensive team of the change. Neither team's players, except
10686-419: The captain of the 1940 and 1941 Chicago Bears NFL championship teams, being forced to take over as head coach. After a 1–7–0 start, the team were in last place when they returned home to host their final six games. For the aforementioned reasons, the team would have had difficulty filling their stadium even in the best of circumstances, and in any case fans had quickly lost interest in the struggling team, and
10823-624: The chance to bring a major league team to their city. The AAFC, needing an eighth team to avoid byes in the schedule, readily granted Hester a franchise: the Seahawks thus became the first major league sports team to be based in Miami. Home games were played at Burdine Stadium, later called the Miami Orange Bowl . The Seahawks stood out from the other AAFC franchises in several ways: The Seahawks hired Iowa Pre-Flight Seahawks coach Jack Meagher as head coach and former Washington Redskins general manager Jack Espey as GM. Their schedule
10960-527: The college game during the late 1930s. Football, in general, became increasingly popular following the 1958 NFL Championship game between the Baltimore Colts and the New York Giants , still referred to as the "Greatest Game Ever Played". The game, a 23–17 overtime victory by the Colts, was seen by millions of television viewers and had a major influence on the popularity of the sport. This, along with
11097-458: The company while they formulate a plan to restructure. The People's Republic of China legalized bankruptcy in 1986, and a revised law that was more expansive and complete was enacted in 2007. Bankruptcy in Ireland applies only to natural persons . Other insolvency processes including liquidation and examinership are used to deal with corporate insolvency. Irish bankruptcy law has been
11234-552: The conference, as they favored a rugby-style game that allowed running with the ball. After playing McGill University using both American (known as "the Boston game ") for the first game and Canadian (rugby) rules for the second one, the Harvard players preferred the Canadian style of having only 11 men on the field, running the ball without having to be chased by an opponent, the forward pass, tackling, and using an oblong instead of
11371-502: The conservative NFL to expand to Dallas and Minnesota in an attempt to destroy the new league. Meanwhile, the AFL introduced many new features to professional football in the United States: official time was kept on a scoreboard clock rather than on a watch in the referee's pocket, as the NFL did; optional two-point conversions by pass or run after touchdowns; names on the jerseys of players; and several others, including expansion of
11508-614: The consumer proposal. Once the proposal is accepted by both the creditors and the Court, the debtor makes the payments to the Proposal Administrator each month (or as otherwise stipulated in their proposal), and the general creditors are prevented from taking any further legal or collection action. If the proposal is rejected, the debtor is returned to his prior insolvent state and may have no alternative but to declare personal bankruptcy. A consumer proposal can only be made by
11645-452: The court by the creditor or with an application to recognize his own bankruptcy. Legal and natural persons, including individual entrepreneurs, who have an indisputable payment obligation exceeding 60 days and amounting to more than one million AMD can be declared bankrupt. All creditors, including the state and municipalities, to whom the person has an obligation that meets the above-mentioned minimum criteria can submit an application to declare
11782-581: The court decides to show rare clemency by accepting a debtors application for debt restructuring , in which case an individual may have the amount of remaining debt reduced or be released from the debt. In Argentina the national Act "24.522 de Concursos y Quiebras" regulates the Bankruptcy and the Reorganization of the individuals and companies, public entities are not included. A person may be declared bankrupt with an application submitted to
11919-413: The crossbars of the defense's goalposts. In practice, almost all field goal attempts are done via place kick. While drop kicks were common in the early days of the sport, the shape of modern footballs makes it difficult to reliably drop kick the ball. The last successful scoring play by drop kick in the NFL was accomplished in 2006; prior to that, the last successful drop kick had been made in 1941. After
12056-401: The debtor believes the asset has a net value . This is because once a bankruptcy petition is filed, it is for the creditors, not the debtor, to decide whether a particular asset has value. The future ramifications of omitting assets from schedules can be quite serious for the offending debtor. In the United States, a closed bankruptcy may be reopened by motion of a creditor or the U.S. trustee if
12193-483: The debtor could be retained beyond that deadline by the creditor and were often forced to serve their new lord for a lifetime, usually under significantly harsher conditions. An exception to this rule was Athens , which by the laws of Solon forbade enslavement for debt; as a consequence, most Athenian slaves were foreigners (Greek or otherwise). The Statute of Bankrupts of 1542 was the first statute under English law dealing with bankruptcy or insolvency . Bankruptcy
12330-399: The defense is to prevent the offense from scoring by tackling the ball carrier or by forcing turnovers . Turnovers include interceptions (a defender catching a forward pass intended for the offense) and forced fumbles (taking possession of the ball from the ball-carrier). The defensive line (DL) consists of defensive ends (DE) and defensive tackles (DT). Defensive ends line up on
12467-430: The defensive backfield. They are divided into two types: middle linebackers (MLB) and outside linebackers (OLB). Linebackers tend to serve as the defensive leaders and call the defensive plays, given their vantage point of the offensive backfield. Their roles include defending the run, pressuring the quarterback, and tackling backs, wide receivers, and tight ends in the passing game. The defensive backfield , often called
12604-418: The development of international capital markets was quite limited prior to 1800, we nevertheless catalog the various defaults of France , Portugal , Prussia , Spain , and the early Italian city-states. At the edge of Europe, Egypt, Russia, and Turkey have histories of chronic default as well." The principal focus of modern insolvency legislation and business debt restructuring practices no longer rests on
12741-499: The duration of their bankruptcy, all bankrupts have certain restrictions placed upon them. For example, a bankrupt must obtain the permission of their trustee to travel overseas. Failure to do so may result in the bankrupt being stopped at the airport by the Australian Federal Police. Additionally, a bankrupt is required to provide their trustee with details of income and assets. If the bankrupt does not comply with
12878-505: The elimination of insolvent entities, but on the remodeling of the financial and organizational structure of debtors experiencing financial distress so as to permit the rehabilitation and continuation of the business. For private households, it is important to assess the underlying problems and to minimize the risk of financial distress to recur. It has been stressed that debt advice, a supervised rehabilitation period, financial education and social help to find sources of income and to improve
13015-472: The ends and sides of the field are known as the end lines and sidelines . Goal lines are marked 10 yards (9.1 m) inward from each end line. Weighted pylons are placed the sidelines on the inside corner of the intersections with the goal lines and end lines. White markings on the field identify the distance from the end zone. Inbound lines, or hash marks , are short parallel lines that mark off 1-yard (0.91 m) increments. Yard lines , which can run
13152-404: The ends of the line, while defensive tackles line up inside, between the defensive ends. The primary responsibilities of defensive ends and defensive tackles are to stop running plays on the outside and inside, respectively, to pressure the quarterback on passing plays, and to occupy the line so that the linebackers can break through. Linebackers line up behind the defensive line but in front of
13289-440: The exception of financial institutions, credit cooperatives, consortia, supplementary scheme entities, companies administering health care plans, equity companies and a few other legal entities. It does not apply to state-run companies. Current law covers three legal proceedings. The first one is bankruptcy itself ("Falência"). Bankruptcy is a court-ordered liquidation procedure for an insolvent business. The final goal of bankruptcy
13426-453: The existence of such a ritual is doubted. In Ancient Greece , bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into " debt slavery " until the creditor recouped losses through their physical labour . Many city-states in ancient Greece limited debt slavery to a period of five years; debt slaves had protection of life and limb, which regular slaves did not have. However, servants of
13563-499: The feet, hands, head, or sides, with the objective being to advance it into the opponent's goal. Rutgers won the game 6–4. Collegiate play continued for several years with games played using the rules of the host school. Representatives of Yale, Columbia , Princeton and Rutgers met on October 19, 1873, to create a standard set of rules for use by all schools. Teams were set at 20 players each, and fields of 400 by 250 feet (122 m × 76 m) were specified. Harvard abstained from
13700-425: The field. After the NFL and AFL merged , the Seahawks nickname would be revived (ironically, at the opposite geographical corner of the contiguous U.S.) when the Seattle Seahawks joined the NFL in 1976. American football American football , referred to simply as football in the United States and Canada and also known as gridiron football , is a team sport played by two teams of eleven players on
13837-417: The first time in major professional football that such a move had ever been attempted more than once in a year. At the end of the season, the team was $ 350,000 in debt, including $ 80,000 in outstanding travel and payroll expenses. This was well beyond Hester's ability to pay, and to make matters worse, his boosters walked away upon realizing the extent of the debt. Other football boosters in Miami wanted to buy
13974-416: The football to the defense, but if they succeed, they are given a new set of four downs to continue the drive . Points are scored primarily by advancing the ball into the opposing team's end zone for a touchdown or kicking the ball through the opponent's goalposts for a field goal . The team with the most points at the end of the game wins. American football evolved in the United States, originating from
14111-419: The game clock based on the direction of the appropriate official . A separate play clock is used to show the amount of time within which the offense must initiate a play. The play clock is set to 25 seconds after certain administrative stoppages in play and to 40 seconds when play is proceeding without such stoppages. If the offense fails to start a play before the play clock reads "00", a delay of game foul
14248-655: The game unless major changes were made. In response, 62 colleges and universities met in New York City to discuss rule changes on December 28, 1905. These proceedings resulted in the formation of the Intercollegiate Athletic Association of the United States, later renamed the National Collegiate Athletic Association (NCAA). The legal forward pass was introduced in 1906, although its effect
14385-443: The ground or a tee; a holder may be used in either case. On a safety kick, the kicking team kicks the ball from their own 20-yard line. They can punt, drop kick or place kick the ball, but a tee may not be used in professional play. Any member of the receiving team may catch or advance the ball. The ball may be recovered by the kicking team once it has gone at least ten yards and has touched the ground or has been touched by any member of
14522-434: The guards. The principal receivers are the wide receivers (WR) and the tight ends (TE). Wide receivers line up on or near the line of scrimmage, split outside the line. The main goal of the wide receiver is to catch passes thrown by the quarterback, but they may also function as decoys or as blockers during running plays. Tight ends line up outside the tackles and function both as receivers and as blockers. The role of
14659-555: The illegal payment of college players who were still in school. The National Football League (NFL), a group of professional teams that was originally established in 1920 as the American Professional Football Association, aimed to solve these problems. This new league's stated goals included an end to bidding wars over players, prevention of the use of college players, and abolition of the practice of paying players to leave another team. By 1922,
14796-451: The innovations introduced by the new American Football League (AFL) in the early 1960s, helped football to become the most popular sport in the United States by the mid-1960s. The rival AFL arose in 1960 and challenged the NFL's dominance. The AFL began in relative obscurity but eventually thrived, with an initial television contract with the ABC television network. The AFL's existence forced
14933-491: The issue of the order for the commencement of insolvency proceedings, the Insolvency Commissioner shall appoint a trustee for the debtor and an audit will be carried out, in which the debtor's economic capability and his conduct will be examined (lasting approximately 12 months). At the end of this audit a payment plan is established, at the end of which the debtor will receive a discharge. The default scenario
15070-529: The legislation, and include the failure to comply with a bankruptcy notice. A bankruptcy notice can be issued where, among other cases, a person fails to pay a judgment debt of at least $ 5,000. A person can also seek to have themselves declared bankrupt for any amount of debt by lodging a debtor's petition with the "Official Receiver", which is the Australian Financial Security Authority (AFSA). All bankrupts must lodge
15207-408: The management of household expenditures must be equally provided during this period of rehabilitation (Refiner et al. , 2003; Gerhardt, 2009; Frade, 2010). In most EU member States, debt discharge is conditioned by a partial payment obligation and by a number of requirements concerning the debtor's behavior. In the United States (US), discharge is conditioned to a lesser extent. The spectrum is broad in
15344-429: The offense advances ten or more yards in the four downs, they are awarded a new set of four downs. If they fail to advance ten yards, possession of the football is turned over to the defense. In most situations, if the offense reaches their fourth down they will punt the ball to the other team, which forces them to begin their drive from farther down the field; if they are in field goal range , they might attempt to score
15481-445: The plane of the two end lines. The crossbar of these posts is 10 feet (3.0 m) above the ground, with vertical uprights at the end of the crossbar 18 feet 6 inches (5.64 m) apart for professional and collegiate play, and 23 feet 4 inches (7.11 m) apart for high school play. The uprights extend vertically 35 feet (11 m) on professional fields, a minimum of 10 yards (9.1 m) on college fields, and
15618-451: The point(s)-after-touchdown (PAT) or conversion, which is a single scoring opportunity. This is generally attempted from the two- or three-yard line, depending on the level of play. If the PAT is scored by a place kick or drop kick through the goal posts, it is worth one point, typically called the extra point. If the PAT is scored by what would normally be a touchdown, it is worth two points; this
15755-403: The previous law in 1998, to better address the above problems and a broader failure of the action. Russian insolvency law is intended for a wide range of borrowers: individuals and companies of all sizes, with the exception of state-owned enterprises, government agencies, political parties and religious organizations. There are also special rules for insurance companies, professional participants of
15892-556: The primary proponents of the rugby-style game, compromised and did not request the name of the sport be changed to "rugby". The terms " gridiron " or "American football" are favored in English-speaking countries where other types of football are popular, such as the United Kingdom, Ireland, New Zealand, and Australia. American football evolved from the sports of rugby and soccer . Rugby, like American football,
16029-429: The primary variants of gridiron football . American football is the most popular sport in the United States in terms of broadcast viewership audience. The most popular forms of the game are professional and college football , with the other major levels being high-school and youth football. As of 2022 , nearly 1.04 million high-school athletes play the sport in the U.S., with another 81,000 college athletes in
16166-422: The punter. In football, the winner is the team that has scored more points at the end of the game. There are multiple ways to score in a football game. The touchdown (TD), worth six points, is the most valuable scoring play in American football. A touchdown is scored when a live ball is advanced into, caught, or recovered in the opposing team's end zone. The scoring team then attempts a try, more commonly known as
16303-401: The receiving team. The three types of scrimmage kicks are place kicks, drop kicks, and punts. Only place kicks and drop kicks can score points. The place kick is the standard method used to score points, because the pointy shape of the football makes it difficult to reliably drop kick. Once the ball has been kicked from a scrimmage kick, it can be advanced by the kicking team only if it
16440-631: The rest of the offense of the play in the huddle before the team lines up. The quarterback lines up behind the center to take the snap and then hands the ball off, throws it, or runs with it. The primary role of the halfback, also known as the running back or tailback, is to carry the ball on running plays. Halfbacks may also serve as receivers. Fullbacks tend to be larger than halfbacks and function primarily as blockers, but they are sometimes used as runners in short-yardage or goal-line situations. They are seldom used as receivers. The offensive line (OL) consists of several players whose primary function
16577-507: The role of minority players, actively recruited by the league in contrast to the NFL. The AFL also signed several star college players who had also been drafted by NFL teams. Competition for players heated up in 1965, when the AFL New York Jets signed rookie Joe Namath to a then-record $ 437,000 contract (equivalent to $ 4.23 million in 2023). A five-year, $ 40 million NBC television contract followed, which helped to sustain
16714-503: The secondary, consists of cornerbacks (CB) and safeties (S). Safeties are themselves divided into free safeties (FS) and strong safeties (SS). Cornerbacks line up outside the defensive formation, typically opposite a receiver to be able to cover them. Safeties line up between the cornerbacks but farther back in the secondary. Safeties tend to be viewed as "the last line of defense" and are responsible for stopping deep passing plays as well as breakout running plays. The special teams unit
16851-487: The securities market, agricultural organizations and other special laws for financial institutions and companies in the natural monopolies in the energy industry. Federal Law No. 40-FZ "On Insolvency (Bankruptcy)" dated 25 February 1999 (as amended) (the "Insolvency Law of Credit Institutions") contains special provisions in relation to the opening of insolvency proceedings in relation to the credit company. Insolvency Provisions Act, credit organizations used in conjunction with
16988-539: The sport does not have the international popularity of other American sports like baseball or basketball ; the sport maintains a growing following in the rest of North America, Europe, Brazil, and Japan. In the United States, American football is referred to as "football". The term "football" was officially established in the rulebook for the 1876 college football season , when the sport first shifted from soccer-style rules to rugby-style rules. Although it could easily have been called "rugby" at this point, Harvard, one of
17125-439: The sports of soccer and rugby . The first American football game was played on November 6, 1869 , between two college teams, Rutgers and Princeton , using rules based on the rules of soccer at the time. A set of rule changes drawn up from 1880 onward by Walter Camp , the "Father of American Football", established the snap , the line of scrimmage , eleven-player teams, and the concept of downs. Later rule changes legalized
17262-512: The subject of significant comment, from both government sources and the media, as being in need of reform. Part 7 of the Civil Law (Miscellaneous Provisions) Act 2011 has started this process and the government has committed to further reform. Bankruptcy in Israel is governed by the Insolvency and Rehabilitation Law, 2018. Insolvency proceedings below NIS 150,000 will be administered entirely by
17399-544: The team to Baltimore and rebranded it as the first incarnation of the Baltimore Colts . The fiasco left local officials weary of upstart professional football leagues. By 1960, Miami was much more comparable in size to established major professional sports markets. Nevertheless, when the American Football League awarded Ralph Wilson a charter franchise for Miami, the city refused to grant him
17536-498: The team, but were unwilling to pay the substantial debt, so they wanted to wait another year to make a bid. Before the Miami boosters could make a bid, however, Hester was declared bankrupt , leaving AAFC Commissioner Jim Crowley with no option but to seize the team. In January 1947, the AAFC approved a bid by Washington, D.C. attorney Robert D. Rodenburg and four other businessmen; the Rodenburg-led group effectively moved
17673-442: The trade and vehicles up to a certain value. All other assets of value can be sold. If a house, including the main residence, or car is above a certain value, a third party can buy the interest from the estate in order for the bankrupt to utilise the asset. If this is not done, the interest vests in the estate and the trustee is able to take possession of the asset and sell it. The bankrupt must pay income contributions if their income
17810-411: The width of the field, are marked every 5 yards (4.6 m). A one-yard-wide line is placed at each end of the field; this line is marked at the center of the two-yard line in professional play and at the three-yard line in college play. Numerals that display the distance from the closest goal line in yards are placed on both sides of the field every ten yards. Goalposts are located at the center of
17947-408: The winning team decides to defer, the losing team chooses the option the winning team did not select—to receive, kick, or select a goal to defend to begin the second half. Most teams choose to receive or defer, because choosing to kick the ball to start the game allows the other team to choose which goal to defend. Teams switch goals following the first and third quarters. If a down is in progress when
18084-408: The young league. The bidding war for players ended in 1966 when NFL owners approached the AFL regarding a merger, and the two leagues agreed on one that took full effect in 1970. This agreement provided for a common draft that would take place each year, and it instituted an annual World Championship game to be played between the champions of each league. This championship game began play at the end of
18221-402: Was a Baltimore franchise which was to have been owned by retired boxer Gene Tunney , but Tunney's bid fell through as he was unable to secure a deal to use city-owned Municipal Stadium on 33rd Street, built in 1922 in the former Venable Park of northeast Baltimore (site of the future Memorial Stadium , rebuilt 1950–1954). A group of Miami football boosters, led by Harvey Hester, seized on
18358-418: Was initially minimal due to the restrictions placed on its use. The idea of a 40-yard-wider field was opposed by Harvard due to the size of the new Harvard Stadium . Other rule changes introduced that year included the reduction of playing time from 70 to 60 minutes and an increase of the distance required for a first down from 5 to 10 yards (4.6 to 9.1 m). To reduce infighting and dirty play between teams,
18495-440: Was necessary to prevent this strategy from taking hold, and a reversion to the scrum was considered. However, Camp successfully proposed a rule in 1882 that limited each team to three downs , or tackles, to advance the ball 5 yards (4.6 m). Failure to advance the ball the required distance within those three downs would result in control of the ball being forfeited to the other team. This change effectively made American football
18632-556: Was profitable, but it tended to prevent the two top-ranked teams from meeting in a true national championship game, as they would normally be committed to the bowl games of their respective conferences. Several systems have been used since 1992 to determine a national champion of college football. The first was the Bowl Coalition , in place from 1992 to 1994. This was replaced in 1995 by the Bowl Alliance , which gave way to
18769-510: Was quite difficult from the beginning: they played seven of their first eight games on the road. Their first game was a harbinger of things to come, with a 44–0 thrashing at the hands of the Cleveland Browns . By the time of their first home game, they had a record of 0–3–0, leading local papers to describe them as "woefully inept". Meagher resigned on October 22 after winning just one of his first six games, with assistant Hamp Pool ,
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