Sentences with phrase «as general unsecured creditors»

If the total amount owed to your first mortgage is greater than fair market value of your property, you can eliminate the security interest to junior lienholders and treat them as general unsecured creditors in your bankruptcy plan (thereby possibly being able to pay them less than 100 %).

The answer is that priority creditors have priority in relation to each other, as well as the general unsecured creditors.

Not exact matches

Meanwhile, in Detroit, the city initially classified its general obligation bonds as unsecured debt before settling with creditors for less than 100 cents on the dollar.

In the event of failure of PNC Bank, National Association, deposits with the PNC Bank Canada Branch would be treated as unsecured general liabilities, and you would be considered a general creditor of PNC Bank, National Association.

The next deadline that comes up on the radar is the proof of claim deadline for the general unsecured creditors such as credit cards.

As a general matter, national creditors are more difficult to deal with than local creditors, and secured creditors (mortgages, car loans) are much more difficult to deal with than unsecured creditors.

Generally, a plan will classify claim holders as secured creditors, unsecured creditors entitled to priority, general unsecured creditors, and equity security holders.

According to Simon's release, «The Official Committee of General Growth's Unsecured Creditors has advised Simon that it supports the Simon offer, and encourages General Growth to engage with Simon promptly to allow the proposed transaction to be considered by General Growth's creditors and shareholders as soon as possiblCreditors has advised Simon that it supports the Simon offer, and encourages General Growth to engage with Simon promptly to allow the proposed transaction to be considered by General Growth's creditors and shareholders as soon as possiblcreditors and shareholders as soon as possible.»