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Bankruptcy (Little Upsilon)

Topics: Little Upsilon: Bankruptcy (Little Upsilon)

Peter0386 (Little Upsilon)

Tuesday, February 3, 2009 - 10:54 am Click here to edit this post
How does a state go into bankruptcy?
And what happens when a country goes into bankruptcy? Do lenders lose all their money?

David Hughes (Little Upsilon)

Sunday, February 22, 2009 - 01:56 am Click here to edit this post
i think im goin for bankruptcy my assets r like -6000 B SC$

Nute Gunray (Little Upsilon)

Sunday, February 22, 2009 - 04:15 am Click here to edit this post
Greetings to Peter0386 of Little Upsilon, and David Hughes of Little Upsilon this topic is a asking a good question. Especially in these rough economic times with everyone experiencing shortages of wokers, of game cash and of profits. I went to an earlier edition of the game news and found these two articles that I believe will answer your questions. Also there is another thread at Security Council Aid V for presidents who need help on Little Upsilon.



Quote:

March 5, 2008
119. Bankrupted Enterprises [ top ]
Enterprises will bankrupt is their debt increases beyond 60 T. All countries and enterprises are warned many times before any such move takes place. There is always a very long time available for cleaning up debt before any bankruptcy may take place.

February 6, 2008
132. Bankruptcy Rules [ top ]
New member countries are bankrupted when their debt is at 30 T for empire members and 60 T for empire leaders. In practice, new members are never bankrupted. It is hard to create such debt within the initial playing period.

Full member countries, that are non-leader part of an empire, are bankrupted if net cash (cash less debt) is -50T or worse. Messages are shown on login when the total goes under -30 T. Warnings will keep coming up to 5 times, one message following each login.

Messages are sent to the empire leader, each game month, when the total goes under -30 T. If no action is taken to correct the situation, the country will bankrupt.

Full member leader countries, are bankrupted if net cash is -100T or worse Messages are shown on login when the total goes under -60 T.

Messages are sent to the empire leader, each game month, when the total goes under -60 T. If no action is taken to correct the situation, the country will bankrupt.

All countries bankrupt without further notice if net cash (cash less loans) is under -140 T.

When a country is bankrupted all its loans and cash are transferred to the empire leader.




Kanzler Nute Gunray
President of CHAIN GANG on Little Upsilon
Security Council Member on Little Upsilon
Chairman of THE BLUE TEAM FEDERATION ON Little Upsilon

Grayson301

Sunday, February 22, 2009 - 06:25 am Click here to edit this post
Nute

I was wondering about rebelloins.If you can't straighten it out what happens ?
does the country Default to a C3 and reset?
and if it does and it has loans do they get transfered to your main..
or is it like taking a country with Loans the loans become the new owners?

I would wish you high profits but in this turbulent time Profits are iffy


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