Unsecured Claim - Law Dictionary Search Results
unsecured claim
Matched in: Term unsecured claim
priority claim
Matched in: Term priority claim
Winding-up
certain value to be estimated justly (s. 261). If the company is insolvent, the rights of secured and unsecured creditors, the admissibility of debts and claims, and the valuation of annuities and future or contingent liabilities are … process by which an insolvent estate is distributed, as far as it will go, amongst the persons having claims upon it. The term is most frequently applied to the winding-up of joint-stock companies. The property of a
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Administrative convenience
in relation to bankruptcy means a provision permitting a bankruptcy plan to have a separate classification for small, unsecured claims, to the extent that the separate classification will assist in a more efficient disposition of to estate, … relation to bankruptcy means a provision permitting a bankruptcy plan to have a separate classification for small, unsecured claims, to the extent that the separate classification will assist in a more efficient disposition of to estate, as
no-asset case
case A chapter 7 case where there are no assets available to satisfy any portion of the creditors' unsecured claims. Source: Administrative Office of the U.S. Courts … A chapter 7 case where there are no assets available to satisfy any portion of the creditors' unsecured claims. Source: Administrative Office of the U.S. Courts
subrogate
regard to a legal right or claim [s the trustee to the priority and avoidance rights of certain unsecured creditors "J. J. White and R. S. Summers"] [the surety who pays the principal obligation is subrogated…to the
Financial asset
or receivables and includes-- (i) a claim to any debt or receivables or part thereof, whether secured or unsecured; or (ii) any debt or receivables secured by, mortgage of, or charge on, immovable property; or (iii) a
unsecured
Matched in: Term unsecured
priority
priority pl: -ties : precedence in exercise of rights in the same subject matter [secured interests have over unsecured ones] adj 1 : having precedence over another in the exercise of rights in the same subject matter … : having precedence over another in the exercise of rights in the same subject matter [a creditor] [a claim] 2 : of or relating to priority [a contest]
creditor
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 … 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
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