LCFOLowndes County Freedom Organization (Lowndes County, AL)
LCFOLine Current Feed Open
LCFOLarge Complex Financial Organization
LCFOLowest Cost, First Out (lot sales)
References in periodicals archive ?
The resolution of an LCFO will necessarily involve multiple legal jurisdictions, which leads to two problems.
In particular, the combination of rapidly developing insolvency, opaque special financial instruments positions, and the exemption from stays of contracts has the potential to preempt the usual options open to regulators and courts to conduct a deliberate and well-considered (that is, leisurely) liquidation or reorganization of an LCFO.
and elsewhere and considers whether the structure and complexity of LCFOs have evolved beyond simplistic corporate structures and contract types historically anticipated in our insolvency legislation and common law traditions.
Because LCFOs operate across different legal jurisdictions, the insolvency process itself creates a coordination problem across the very agents (usually courts) charged with solving the coordination problem amongst creditors.
Resolution of LCFOs is further complicated because in the U.
As I discussed in the introduction, a particular area of concern in the resolution of LCFOs is the treatment of special financial instruments, specifically the ability to terminate and net contracts.