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102-560: In 1838, the B&;O began service from Baltimore to Philadelphia using the new PW&B line. Connecting trackage in Baltimore ran from the B&O's Mount Clare terminal east along Pratt Street and East Falls Avenue to the PW&;B's President Street Station . From there the PW&B ran east on Fleet Street and Boston Street before leaving onto its own right-of-way . In 1881,

204-508: A slipformed (or pre-cast) concrete base (development 2000s). The 'embedded rail structure', used in the Netherlands since 1976, initially used a conventional UIC 54 rail embedded in concrete, and later developed (late 1990s) to use a 'mushroom' shaped SA42 rail profile; a version for light rail using a rail supported in an asphalt concrete –filled steel trough has also been developed (2002). Modern ladder track can be considered

306-599: A train track or permanent way (often " perway " in Australia or " P Way " in Britain and India), is the structure on a railway or railroad consisting of the rails , fasteners , railroad ties (sleepers, British English) and ballast (or slab track ), plus the underlying subgrade . It enables trains to move by providing a dependable surface for their wheels to roll upon. Early tracks were constructed with wooden or cast iron rails, and wooden or stone sleepers; since

408-440: A "clickety-clack" sound. Unless it is well-maintained, jointed track does not have the ride quality of welded rail and is less desirable for high speed trains . However, jointed track is still used in many countries on lower speed lines and sidings , and is used extensively in poorer countries due to the lower construction cost and the simpler equipment required for its installation and maintenance. A major problem of jointed track

510-562: 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

612-500: 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

714-515: 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 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

816-590: A charter for the Baltimore Belt Line to provide a completely grade-separated route. This new route entered the long Howard Street Tunnel at Camden Station, running north under downtown, and then turning east through two shorter tunnels to a junction with the Philadelphia Branch at Bay View Yard . The Baltimore Belt Line was completed in 1895, and its expenses drove the B&O to bankruptcy in 1896. The last passenger trains ran through

918-519: 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 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

1020-415: A continuous reinforced concrete slab and the use of pre-cast pre-stressed concrete units laid on a base layer. Many permutations of design have been put forward. However, ballastless track has a high initial cost, and in the case of existing railroads the upgrade to such requires closure of the route for a long period. Its whole-life cost can be lower because of the reduction in maintenance. Ballastless track

1122-439: 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

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1224-410: 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

1326-613: 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

1428-481: A development of baulk road. Ladder track utilizes sleepers aligned along the same direction as the rails with rung-like gauge restraining cross members. Both ballasted and ballastless types exist. Modern track typically uses hot-rolled steel with a profile of an asymmetrical rounded I-beam . Unlike some other uses of iron and steel , railway rails are subject to very high stresses and have to be made of very high-quality steel alloy. It took many decades to improve

1530-455: 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,

1632-427: 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 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

1734-402: A period of five years; debt slaves had protection of life and limb, which regular slaves did not have. However, servants of 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

1836-465: 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

1938-433: 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

2040-465: A temperature roughly midway between the extremes experienced at that location. (This is known as the "rail neutral temperature".) This installation procedure is intended to prevent tracks from buckling in summer heat or pulling apart in the winter cold. In North America, because broken rails are typically detected by interruption of the current in the signaling system, they are seen as less of a potential hazard than undetected heat kinks. Joints are used in

2142-471: Is 115 to 141 lb/yd (57 to 70 kg/m). In Europe, rail is graded in kilograms per metre and the usual range is 40 to 60 kg/m (81 to 121 lb/yd). The heaviest mass-produced rail was 155 pounds per yard (77 kg/m), rolled for the Pennsylvania Railroad . The rails used in rail transport are produced in sections of fixed length. Rail lengths are made as long as possible, as

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2244-730: 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

2346-400: 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

2448-408: Is a manual process requiring a reaction crucible and form to contain the molten iron. North American practice is to weld 1 ⁄ 4 -mile-long (400 m) segments of rail at a rail facility and load it on a special train to carry it to the job site. This train is designed to carry many segments of rail which are placed so they can slide off their racks to the rear of the train and be attached to

2550-464: 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,

2652-561: 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

2754-559: 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

2856-515: 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

2958-571: 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 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

3060-494: Is cracking around the bolt holes, which can lead to breaking of the rail head (the running surface). This was the cause of the Hither Green rail crash which caused British Railways to begin converting much of its track to continuous welded rail. Where track circuits exist for signalling purposes, insulated block joints are required. These compound the weaknesses of ordinary joints. Specially-made glued joints, where all

3162-466: Is graded by its linear density , that is, its mass over a standard length. Heavier rail can support greater axle loads and higher train speeds without sustaining damage than lighter rail, but at a greater cost. In North America and the United Kingdom, rail is graded in pounds per yard (usually shown as pound or lb ), so 130-pound rail would weigh 130 lb/yd (64 kg/m). The usual range

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3264-486: Is imposed by a court order , often initiated by the debtor . Bankrupt 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

3366-402: Is scarce and where tonnage or speeds are high. Steel is used in some applications. The track ballast is customarily crushed stone, and the purpose of this is to support the sleepers and allow some adjustment of their position, while allowing free drainage. A disadvantage of traditional track structures is the heavy demand for maintenance, particularly surfacing (tamping) and lining to restore

3468-456: Is starting to paint rails white to lower the peak temperatures reached in summer days. After new segments of rail are laid, or defective rails replaced (welded-in), the rails can be artificially stressed if the temperature of the rail during laying is cooler than what is desired. The stressing process involves either heating the rails, causing them to expand, or stretching the rails with hydraulic equipment. They are then fastened (clipped) to

3570-557: 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

3672-459: 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

3774-767: Is to bolt them together using metal fishplates (jointbars in the US), producing jointed track . For more modern usage, particularly where higher speeds are required, the lengths of rail may be welded together to form continuous welded rail (CWR). Jointed track is made using lengths of rail, usually around 20 m (66 ft) long (in the UK) and 39 or 78 ft (12 or 24 m) long (in North America), bolted together using perforated steel plates known as fishplates (UK) or joint bars (North America). Fishplates are usually 600 mm (2 ft) long, used in pairs either side of

3876-400: 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

3978-435: Is usually considered for new very high speed or very high loading routes, in short extensions that require additional strength (e.g. railway stations), or for localised replacement where there are exceptional maintenance difficulties, for example in tunnels. Most rapid transit lines and rubber-tyred metro systems use ballastless track. Early railways (c. 1840s) experimented with continuous bearing railtrack, in which

4080-571: 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

4182-804: 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

Baltimore and Philadelphia Railroad - Misplaced Pages Continue

4284-798: The Patapsco River to Locust Point . At the Philadelphia end, the new line crossed the PW&B and its old alignment (part of the Philadelphia and Reading Railway 's branch to Chester ) and crossed to the east side of the Schuylkill River on the new B&O Railroad Bridge , just south of the Grays Ferry Bridge . A branch split there towards the Delaware River , while the main line continued north along

4386-700: 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

4488-588: The 1870s, rails have almost universally been made from steel. The first railway in Britain was the Wollaton Wagonway , built in 1603 between Wollaton and Strelley in Nottinghamshire. It used wooden rails and was the first of around 50 wooden-railed tramways built over the next 164 years. These early wooden tramways typically used rails of oak or beech, attached to wooden sleepers with iron or wooden nails. Gravel or small stones were packed around

4590-563: The B&O attempted to gain control of the PW&B, but lost the stock battle to the Pennsylvania Railroad , which informed the B&O that it would lose access to the PW&B line in 1884. This forced the B&O to build a new route to Philadelphia. It acquired the Delaware Western Railroad , which had a charter but no track, merged it into the Baltimore & Philadelphia in 1883, and began construction. The line

4692-528: The B&O obtained trackage rights over the Reading's lines from Philadelphia to Jersey City, New Jersey , across the Hudson River from New York City . (This route via the Reading originally ran via the main line, Port Richmond Branch , North Pennsylvania Railroad , North Pennsylvania Railroad Delaware River Branch , Delaware and Bound Brook Railroad and Central Railroad of New Jersey , later using

4794-549: 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

4896-620: The Schuylkill, with a station downtown , and then passed through the Art Museum Tunnel to Park Junction with the Philadelphia and Reading Railway 's main line; this tunnel, the last part of the line to be finished, opened on December 15, 1886. The Reading, originally using the Junction Railroad west of the Schuylkill to access its Chester branch, obtained trackage rights over the Baltimore and Philadelphia, and

4998-518: 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

5100-486: 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

5202-443: 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

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5304-494: 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

5406-400: The bolt heads on the same side of the rail. Small gaps which function as expansion joints are deliberately left between the rail ends to allow for expansion of the rails in hot weather. European practice was to have the rail joints on both rails adjacent to each other, while North American practice is to stagger them. Because of these small gaps, when trains pass over jointed tracks they make

5508-497: 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 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

5610-415: The canefields themselves. These tracks were narrow gauge (for example, 2 ft ( 610 mm )) and the portable track came in straights, curves, and turnouts, rather like on a model railway. Bankruptcy 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

5712-458: 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

5814-614: 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

5916-465: The continuous welded rail when necessary, usually for signal circuit gaps. Instead of a joint that passes straight across the rail, the two rail ends are sometimes cut at an angle to give a smoother transition. In extreme cases, such as at the end of long bridges, a breather switch (referred to in North America and Britain as an expansion joint ) gives a smooth path for the wheels while allowing

6018-452: 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

6120-581: 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

6222-401: 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

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6324-440: The desired track geometry and smoothness of vehicle running. Weakness of the subgrade and drainage deficiencies also lead to heavy maintenance costs. This can be overcome by using ballastless track. In its simplest form this consists of a continuous slab of concrete (like a highway structure) with the rails supported directly on its upper surface (using a resilient pad). There are a number of proprietary systems; variations include

6426-499: 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

6528-415: 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 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

6630-440: The end of one rail to expand relative to the next rail. A sleeper (tie or crosstie) is a rectangular object on which the rails are supported and fixed. The sleeper has two main roles: to transfer the loads from the rails to the track ballast and the ground underneath, and to hold the rails to the correct width apart (to maintain the rail gauge ). They are generally laid transversely to the rails. Various methods exist for fixing

6732-440: 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

6834-428: The gaps are filled with epoxy resin , increase the strength again. As an alternative to the insulated joint, audio frequency track circuits can be employed using a tuned loop formed in approximately 20 m (66 ft) of the rail as part of the blocking circuit. Some insulated joints are unavoidable within turnouts. Another alternative is an axle counter , which can reduce the number of track circuits and thus

6936-626: The intrinsic weakness in resisting vertical loading results in the ballast becoming depressed and a heavy maintenance workload is imposed to prevent unacceptable geometrical defects at the joints. The joints also needed to be lubricated, and wear at the fishplate (joint bar) mating surfaces needed to be rectified by shimming. For this reason jointed track is not financially appropriate for heavily operated railroads. Timber sleepers are of many available timbers, and are often treated with creosote , chromated copper arsenate , or other wood preservatives. Pre-stressed concrete sleepers are often used where timber

7038-480: The iron came loose, began to curl, and intruded into the floors of the coaches. The iron strap rail coming through the floors of the coaches came to be referred to as "snake heads" by early railroaders. The Deeside Tramway in North Wales used this form of rail. It opened around 1870 and closed in 1947, with long sections still using these rails. It was one of the last uses of iron-topped wooden rails. Rail

7140-491: 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

7242-402: The joints between rails are a source of weakness. Throughout the history of rail production, lengths have increased as manufacturing processes have improved. The following are lengths of single sections produced by steel mills , without any thermite welding . Shorter rails may be welded with flashbutt welding , but the following rail lengths are unwelded. Welding of rails into longer lengths

7344-529: 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

7446-888: The mid- to late-20th century used rails 39 feet (11.9 m) long so they could be carried in gondola cars ( open wagons ), often 40 feet (12.2 m) long; as gondola sizes increased, so did rail lengths. According to the Railway Gazette International the planned-but-cancelled 150-kilometre rail line for the Baffinland Iron Mine , on Baffin Island , would have used older carbon steel alloys for its rails, instead of more modern, higher performance alloys, because modern alloy rails can become brittle at very low temperatures. Early North American railroads used iron on top of wooden rails as an economy measure but gave up this method of construction after

7548-640: The north and the Baldwin Locomotive Works to the south. from the east end of Wilsmere yard (later, from Elsmere Junction) into Wilmington, Delaware to a station at Market Street. Provided passenger and freight service from downtown Wilmington. from a junction on the Market Street Branch across the Christina River to Third Street Dock. Served industries on the south side of the river. from Landenberg Junction (at

7650-620: The number of insulated rail joints required. Most modern railways use continuous welded rail (CWR), sometimes referred to as ribbon rails or seamless rails . In this form of track, the rails are welded together by utilising flash butt welding to form one continuous rail that may be several kilometres long. Because there are few joints, this form of track is very strong, gives a smooth ride, and needs less maintenance; trains can travel on it at higher speeds and with less friction. Welded rails are more expensive to lay than jointed tracks, but have much lower maintenance costs. The first welded track

7752-404: The outside of sharp curves compared to the rails on the inside. Rails can be supplied pre-drilled with boltholes for fishplates or without where they will be welded into place. There are usually two or three boltholes at each end. Rails are produced in fixed lengths and need to be joined end-to-end to make a continuous surface on which trains may run. The traditional method of joining the rails

7854-523: 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 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

7956-403: 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

8058-423: The quality of the materials, including the change from iron to steel. The stronger the rails and the rest of the trackwork, the heavier and faster the trains the track can carry. Other profiles of rail include: bullhead rail ; grooved rail ; flat-bottomed rail (Vignoles rail or flanged T-rail); bridge rail (inverted U–shaped used in baulk road ); and Barlow rail (inverted V). North American railroads until

8160-682: The rail by special clips that resist longitudinal movement of the rail. There is no theoretical limit to how long a welded rail can be. However, if longitudinal and lateral restraint are insufficient, the track could become distorted in hot weather and cause a derailment. Distortion due to heat expansion is known in North America as sun kink , and elsewhere as buckling. In extreme hot weather special inspections are required to monitor sections of track known to be problematic. In North American practice, extreme temperature conditions will trigger slow orders to allow for crews to react to buckling or "sun kinks" if encountered. The German railway company Deutsche Bahn

8262-425: The rail ends and bolted together (usually four, but sometimes six bolts per joint). The bolts have alternating orientations so that in the event of a derailment and a wheel flange striking the joint, only some of the bolts will be sheared, reducing the likelihood of the rails misaligning with each other and exacerbating the derailment. This technique is not applied universally; European practice being to have all

8364-500: The rail to the sleeper. Historically, spikes gave way to cast iron chairs fixed to the sleeper. More recently, springs (such as Pandrol clips ) are used to fix the rail to the sleeper chair. Sometimes rail tracks are designed to be portable and moved from one place to another as required. During construction of the Panama Canal , tracks were moved around excavation works. These track gauge were 5 ft ( 1,524 mm ) and

8466-599: The rail was supported along its length, with examples including Brunel's baulk road on the Great Western Railway , as well as use on the Newcastle and North Shields Railway , on the Lancashire and Yorkshire Railway to a design by John Hawkshaw , and elsewhere. Continuous-bearing designs were also promoted by other engineers. The system was tested on the Baltimore and Ohio railway in the 1840s, but

8568-562: The rolling stock full size. Portable tracks have often been used in open pit mines. In 1880 in New York City , sections of heavy portable track (along with much other improvised technology) helped in the move of the ancient obelisk in Central Park to its final location from the dock where it was unloaded from the cargo ship SS Dessoug . Cane railways often had permanent tracks for the main lines, with portable tracks serving

8670-487: 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

8772-544: The shortcut of the Philadelphia, Newtown and New York Railroad and New York Short Line Railroad rather than the North Pennsylvania.) The Baltimore and New York Railway and Staten Island Rapid Transit Railway provided their own freight terminal, at St. George on Staten Island . Though a surface alignment through downtown Baltimore was authorized by the Maryland legislature , the B&O instead obtained

8874-426: The sleepers in their expanded form. This process ensures that the rail will not expand much further in subsequent hot weather. In cold weather the rails try to contract, but because they are firmly fastened, cannot do so. In effect, stressed rails are a bit like a piece of stretched elastic firmly fastened down. In extremely cold weather, rails are heated to prevent "pull aparts". CWR is laid (including fastening) at

8976-617: The sleepers to hold them in place and provide a walkway for the people or horses that moved wagons along the track. The rails were usually about 3 feet (0.91 m) long and were not joined - instead, adjacent rails were laid on a common sleeper. The straight rails could be angled at these joints to form primitive curved track. The first iron rails laid in Britain were at the Darby Ironworks in Coalbrookdale in 1767. When steam locomotives were introduced, starting in 1804,

9078-540: The sleepers with base plates that spread the load. When concrete sleepers are used, a plastic or rubber pad is usually placed between the rail and the tie plate. Rail is usually attached to the sleeper with resilient fastenings, although cut spikes are widely used in North America. For much of the 20th century, rail track used softwood timber sleepers and jointed rails, and a considerable amount of this track remains on secondary and tertiary routes. In North America and Australia, flat-bottomed rails were typically fastened to

9180-480: The sleepers with dog spikes through a flat tie plate. In Britain and Ireland, bullhead rails were carried in cast-iron chairs which were spiked to the sleepers. In 1936, the London, Midland and Scottish Railway pioneered the conversion to flat-bottomed rail in Britain, though earlier lines had made some use of it. Jointed rails were used at first because contemporary technology did not offer any alternative. However,

9282-512: 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

9384-511: The ties (sleepers) in a continuous operation. If not restrained, rails would lengthen in hot weather and shrink in cold weather. To provide this restraint, the rail is prevented from moving in relation to the sleeper by use of clips or anchors. Attention needs to be paid to compacting the ballast effectively, including under, between, and at the ends of the sleepers, to prevent the sleepers from moving. Anchors are more common for wooden sleepers, whereas most concrete or steel sleepers are fastened to

9486-406: The track then in use proved too weak to carry the additional weight. Richard Trevithick 's pioneering locomotive at Pen-y-darren broke the plateway track and had to be withdrawn. As locomotives became more widespread in the 1810s and 1820s, engineers built rigid track formations, with iron rails mounted on stone sleepers, and cast-iron chairs holding them in place. This proved to be a mistake, and

9588-442: 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

9690-408: The tradition of smashing a banker's bench if he defaulted on payment. However, 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

9792-481: The tunnel and over the Baltimore and Philadelphia in 1958; since then all traffic has been freight. The route is now operated by CSX as its Philadelphia Subdivision . from East Side Junction to wharves and yards along the Delaware River on the east side of Philadelphia. extending both north and south of a connection to the main line at Eddystone, Pennsylvania along Crum Creek . Served Leiper's quarry to

9894-645: The west end of Wilsmere yard) to Landenberg, Pennsylvania . Later the Wilmington and Western Railroad . built from Childs, Maryland to Providence, Maryland by the Lancaster, Cecil and Southern Railroad . Finished to a paper mill in Providence; a small amount of grading done to the north towards Oxford, Pennsylvania . Rail tracks A railway track ( British English and UIC terminology ) or railroad track ( American English ), also known as

9996-467: Was first introduced around 1893, making train rides quieter and safer. With the introduction of thermite welding after 1899, the process became less labour-intensive, and ubiquitous. Modern production techniques allowed the production of longer unwelded segments. Newer longer rails tend to be made as simple multiples of older shorter rails, so that old rails can be replaced without cutting. Some cutting would be needed as slightly longer rails are needed on

10098-432: Was found to be more expensive to maintain than rail with cross sleepers . This type of track still exists on some bridges on Network Rail where the timber baulks are called waybeams or longitudinal timbers. Generally the speed over such structures is low. Later applications of continuously supported track include Balfour Beatty 's 'embedded slab track', which uses a rounded rectangular rail profile (BB14072) embedded in

10200-563: Was in full operation by 1886. While the line in Delaware and Pennsylvania was operated by the Baltimore and Philadelphia, the line in Maryland was operated directly by the B&O as its Philadelphia Branch. Except at its two ends, the line was built within a few miles to the northwest of the PW&B. At the Baltimore end, the line ended in the Canton neighborhood, with a car ferry across

10302-466: Was soon replaced with flexible track structures that allowed a degree of elastic movement as trains passed over them. Traditionally, tracks are constructed using flat-bottomed steel rails laid on and spiked or screwed into timber or pre-stressed concrete sleepers (known as ties in North America), with crushed stone ballast placed beneath and around the sleepers. Most modern railroads with heavy traffic use continuously welded rails that are attached to

10404-505: Was used in Germany in 1924. and has become common on main lines since the 1950s. The preferred process of flash butt welding involves an automated track-laying machine running a strong electric current through the touching ends of two unjoined rails. The ends become white hot due to electrical resistance and are then pressed together forming a strong weld. Thermite welding is used to repair or splice together existing CWR segments. This

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