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Some Economic Debts are nondischargeable (they don't vanish in bankruptcy). However in some situations, the debtor or monetary institution ought to file a suit within the bankruptcy scenario asking the courtroom to determine if the debt will definitely remain.
Foxconn said Lordstown experienced breached their expenditure agreement simply because its inventory experienced fallen below $1 a share. Lordstown said on Tuesday that it had filed a lawsuit asserting that Foxconn failed to honor its arrangement to invest extra money in the corporation.
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Foxconn — whose official name is Hon Hai Technological innovation Team — claimed in an announcement that it had hoped to barter an answer to Lordstown’s economical troubles but the two sides had didn't get to an agreement.