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My joining is on Dec 13th …for the last 3 mondaysI will be receiving some mail from tcs like mails about what they are doing and a reminder mail for my joining date but today didn’t get any mails ….when I can expect the joining details in mail…like welcome mail from tcs ?? Tata Consultancy
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Can anyone give an opinion about joining Cognizant Bangalore now ? I have 1.8 YoE and they are offering a pretty good hike but I have heard news like there's managerial changes happening rn and many people are leaving the firm. Your opiniors will greatly help me in making a career decision.
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Not necessarily a&m specific but bankrupt clients normally get invoices far more regularly with far more stringent payment terms. Iv also seen cases where invoices actually go through the bankruptcy judge
Bankruptcy clients are actually very profitable. It's borderline unethical because there are usually under the table deals with law and consulting firms preparing the case for the bankruptcy and getting confidential details about how much they can charge then the same law and consulting firms charge millions for administering the bankruptcy and portray themselves as the only ones who can do it because they've done the pre-work. McK's restructuring group is currently being sued for this exact reason.
McKinsey Hid Conflicts to Draw Bankruptcy Work, Alix Says - Bloomberg
https://www.bloomberg.com/news/articles/2018-05-09/mckinsey-sued-by-jay-alix-over-competition-for-bankruptcy-advice
1. If the client is in bankruptcy, you have to file fees with the court. Often times there are fee examiners that determine if fees are appropriate.
2. the advisors (financial advisors, bankers, and lawyers) are retained prior to bankruptcy and depending on the firm have various fee structures. Most banks are oriented towards success fees, lawyers/FAs are oriented towards hourly billing. These fees are held at an administrative level and are paid first per the bankruptcy code.
Both are correct. Invoices will usually go through judges and invoices are paid based on predefined terms.
Oh and the law and consulting firms would usually also prepare the case that executives should get x million in bonuses because it's not their fault. Through trial and error these groups know exactly what to argue for in front of the judge to get millions for the executives who hired them in the first place and paid them millions out of their bankrupt employees and shareholders pockets. Exhibit A why the world hates capitalism.
If in court, judge approves fees in advance and law/consulting firms doing bankruptcy part at first in line. Have to be. Otherwise no one would do the work
Administrators are the first to be paid. Regardless of whether it's a turnaround or a liquidation, there will be additional line of credit pulled or assets sold for cash to pay prof services.
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