Known Creditor - Law Dictionary Search Results
Home Dictionary Name: known creditorknown creditor
known creditor see creditor ...
creditor
creditor : a person to whom a debt is owed ;esp : a person to whom money or goods are due compare debtor, obligor general creditor : a creditor who is not secured by a lien or other security interest called also unsecured creditor judgment creditor : a creditor who has a money judgment entered against the debtor and may enforce the judgment (as by attachment or writ of execution) known creditor : a creditor whose potential claim is known or should be known by a debtor and who is entitled to notice of a corporate dissolution or of a date at which claims will be barred (as in bankruptcy) lien creditor : a creditor who is secured by a lien (as by attachment) secured creditor : a creditor who has a security interest (as a mortgage) unsecured creditor : general creditor in this entry ...
Arrangements between debtors and creditors
Arrangements between debtors and creditors. The 125th and 126th sections of the (English) Bankruptcy Act, 1869, which repealed an Act of 1861, allowed liquidation by arrangement and composition with creditors by resolutions passed at similar representative meetings to take the place of proceedings in bankruptcy. The (English) Bankruptcy Act, 1883, having repealed the Act of 1869 without re-enacting these clauses, arrangements with creditors outside the law of bankruptcy became common, and in order to legalize and regulate these arrangements, the (English) Deeds of Arrangement Act, 1887, was passed and amended in 1890 by 53 & 54 Vict. c. 24. The law has now been consolidated by the (English) Deeds of Arrangement Act, 1914 (4 & 5 Geo. 5, c. 47), which repeals the Act of 1887, and also parts of the Bankruptcy and (English) Deeds of Arrangement Act, 1913, and contains practically the whole statute law on the subject. The Act is divided into five parts: (1) defining the deeds of arrangement...
Known sources of income
Known sources of income, the expression 'known sources of income' must have reference to sources known to the prosecution on a thorough investigation of the case. It was not, and it could not be, contended that 'known sources of income' means sources known to the accused. Affairs of the accused are matters specially within the knowledge of the accused; within the meaning of s. 106 of the Evidence Act, C.S.D. Swami v. State, AIR 1960 SC 7: (1960) 1 SCR 461. [Prevention of Corruption Act, 1947, s. 5(3)]The expression 'known sources of incomes' means 'sources known to the prosecution'. So also, the same meaning must be given to the words 'for which the public servant cannot satisfactorily account' occurring in s. 5(1)(e), State of Maharashtra v. Wasudeo Ramchandra Kaidalwar, AIR 1981 SC 1186; (1981) 3 SCC 199: (1981) 3 SCR 675.The expression 'known sources of income' has reference to sources known to the prosecution after thorough investigation of the case. It is not, and cannot be conten...
Creditor
Creditor [Lat.], one who trusts or gives credit, correlative to debtor. A creditor is entitled totake out letters of administration if there be no next of kin, or the next of kin will not. And see BANKRUPTCY, ADMINISTRATION OF ASSETS, and COMPANY.(ii) includes a decree-holder, 'debt' includes a judg-ment-debt, and 'debtor' includes a judgement-debtor. [Provincial Insolvency Act, 1920, s. 2 (1) (a)]In relation to a bankrupt, means a person to whom any of the bankruptcy debts is owed, being, in the case of an amount falling within the Insolvency Act, 1986, s. 382(1) (c) Halsbury's Laws of England, Vol. 3(2), para 84, p. 52.Includes all creditors who may assent to, or take the benefit of, a deed of arrangement Deeds of Arrangement Act, 1914, s. 30(1) (UK) Halsbury's Laws of England, Vol. 3(2), para 830, p. 444....
Creditor's committee
Creditor's committee, means a general meeting of the bankrupt's creditors may, in accordance with the Insolvency Rules 1986, establish a committee ('the creditors' committee') to exercise the functions conferred on it by or under Insolvency Act, 1986 (UK) Halsbury's Laws of England, Vol. 3(2), para 316, p. 172....
general creditor
general creditor see creditor ...
judgment creditor
judgment creditor see creditor ...
lien creditor
lien creditor see creditor ...
meeting of creditors
meeting of creditors :a hearing held pursuant to section 341 of the Bankruptcy Code at which a bankrupt debtor is required to submit to examination under oath by creditors who may also elect a trustee if one has not already been appointed ...
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