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prebankruptcy planning

debtor's property to allow the debtor to take maximum advantage of exemptions. (Prebankruptcy planning typically includes converting nonexempt assets into exempt assets.) Source: Administrative Office of the U.S. Courts

patrimony

parish shall pass to the of the diocese] 3 in the civil law of Louisiana : the net assets of a person : the sum of a person's assets and liabilities [reimbursement shall be made from the

marshal

;also : to fix the order of (as liens or remedies) with respect to priority against a debtor's assets see also marshaling

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liquidate

settle (a debt) by payment or other adjustment 2 a : to determine the liabilities and apportion the assets of esp. in bankruptcy or dissolution [ a corporation] compare bankruptcy b : to convert (as assets) into

liquid

liquid 1 a : consisting of cash or capable of ready conversion into cash [ assets] b : capable of covering current liabilities out of current assets esp. in a rapid manner [a insurer]

going concern value

going concern value : the value of the assets of an enterprise or of the enterprise itself considered as an operating business and therefore based on earning

For the purpose of the business

the business or its administration but also measures for the preservation of the business and protection of its assets and property. It may legitimately comprehend many other acts incidental to the carrying on of the business, CIT

Owner's equity

Owner's equity, is the residual claim of the owners of the business on its assets after recognition of the liabilities of the business. Owner's equity repre-sents the amounts contributed by the owners to

Security receipt

the purchase or acquisition by the holder thereof, of an undivided right, title or interest in the financial asset involved in securitisation. [Securitisation and Reconstruc-tion of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of

divestiture

a property (as an operating division) under court order (as in bankruptcy) 2 : the sale of an asset (as a business division) that is unprofitable, does not enhance a corporate restructuring, or is felt to be

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