U.S. vice president to chair high-level UN Security Council meeting on Iraq

[sabra]

Source: xinhuanet

UNITED NATIONS, Dec. 2 (Xinhua) -- U.S. Vice President Joe Biden will chair a high-level UN Security Council meeting on Iraq later this month to "recognize the very real progress" that country has made so far, Susan Rice, the U.S. ambassador to the UN who also holds the rotating presidency of the Security Council for December, told reporters here on Thursday.

Rice made the statement as she was briefing reporters here at a press conference on the Security Council's program of work for the month of December. She took over the rotating Council presidency from British UN Ambassador Mark Lyall Grant, who held the rotating presidency for November.

"It's an important opportunity for the international community to recognize the very real progress that Iraq has made both in terms of government formation as well as the significant steps that have been taken to terminate its chapter 7 obligations," Rice told reporters.

The high-level event on Iraq is scheduled for Dec. 15.

Read more: http://news.xinhuanet.com/english2010/world/2010-12/03/c_13632697.htm

[Arctic Dave]

1. Chapter 7?

As in?

A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor's property may be subject to liens and mortgages that pledge the property to other creditors. In addition, the Bankruptcy Code will allow the debtor to keep certain "exempt" property; but a trustee will liquidate the debtor's remaining assets. Accordingly, potential debtors should realize that the filing of a petition under chapter 7 may result in the loss of property.

WTF. Am I thinking of the wrong thing?

So Biden is there to oversee the selling off of Iraqi assests?