Unsecured Creditor - Law Dictionary Search Results
unsecured creditor
Matched in: Term unsecured creditor
unsecured claim
Matched in: Term unsecured claim
creditor
Matched in: Term creditor
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priority claim
these unsecured claims are to be paid.proof of claim A written statement and verifying documentation filed by a creditor that describes the reason the debtor owes the creditor money. (There is an official form for this purpose.) … priority claim An unsecured claim that is entitled to be paid ahead of other unsecured claims that are not entitled to priority
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 … 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 to
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 … : to put in the place of another by the doctrine of subrogation : substitute (as a second creditor) for another with regard to a legal right or claim [s the trustee to the priority and avoidance
Once action rule
debt is secured by real property the creditor must foreclose on the collateral before proceeding against the debtor's unsecured assets, Black's Law Dictionary, 7th Edn., p. 1116.
exemptions, exempt property
by an individual debtor that the Bankruptcy Code or applicable state law permits the debtor to keep from unsecured creditors. For example, in some states the debtor may be able to exempt all or a portion of … an individual debtor that the Bankruptcy Code or applicable state law permits the debtor to keep from unsecured creditors. For example, in some states the debtor may be able to exempt all or a portion of the
Absolute-priority rule
is a rule that a confirmable reorganization plan must provide for full payment to a class of dissenting unsecured creditor before a junior class of claimants will be allowed to receive or retain anything under the plan, Black
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 … no-asset 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
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