Sentences with phrase «assets of the debtor»

Debt transactions can also include security features tied to certain assets of a debtor providing an even greater level of security to creditors in the event of default or bankruptcy.

In most cases, debt sits at the very top of the capital structure and in scenarios of liquidation or bankruptcy is first to be repaid with the assets of the debtor.

Under Minnesota Statute 550.37, certain assets of a debtor are considered exempt.

Once a creditor is armed with a judgment order of a court of legal jurisdiction, the creditor can proceed to attach or seize assets of the debtor, but only under legal procedures and guidance.

«Second, even if they are considered an asset of a debtor that could be administered by a bankruptcy trustee to pay creditor claims, they very rarely, if ever, are.

A decision from the Wisconsin Supreme Court establishing the right of an unsecured creditor to have a sheriff seize and execute upon a court judgment against the assets of a debtor and forcing a judicial sale to find an equity in excess of the rights and value of an existing security interest held by a secured creditor in the subject assets.

Generally speaking, once a foreign judgment is recognised and enforced, the creditor may request a seizure order against all the assets of the debtor and the court will hold auctions to sell those assets to satisfy the debtor's rights in relation to monetary compensation.

Under a nonrecourse loan, the lender does not have the legal right to collect a deficiency judgment from any assets of the debtor not pledged to secure the loan.

Not exact matches

He is accused of repeatedly losing money for investors and lying to them about it, illegally taking assets from one of his companies to pay off debtors in another.

The debtor's assets, valued at approximately $ 639 billion dollars, were sold to Barclays within five days of the bankruptcy filing.

But a growing part of the economy in every country has been the Finance, Insurance and Real Estate (FIRE) sector, which comprises the rent and interest paid to the economy's balance sheet of assets by debtors and rent payers.

Under that section of the law, a debtor's assets are sold to pay creditors.

deCODE's actual results could differ materially from those anticipated in the forward - looking statements as a result of risks and uncertainties, including, without limitation, (1) the impact of the announcement of its bankruptcy filing on deCODE's operations; (2) the ability of deCODE to maintain sufficient debtor - in - possession financing to fund its operations and the expenses of the Chapter 11 proceeding; (3) the ability of deCODE to obtain court approval of its motions in the Chapter 11 proceeding; (4) the outcome and timing of the proposed sale of deCODE's assets, including deCODE's ability to close a transaction with SagaInvestments, LLC or any other purchaser; (5) the uncertainty associated with motions by third parties in the bankruptcy proceeding; (6) deCODE's ability to obtain and maintain normal terms with vendors and service providers and contracts that are critical to its operation; and (7) other risks identified in deCODE's filings with the Securities and Exchange Commission, including, without limitation, the risk factors identified in our most recent Annual Report on Form 10 - K and any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10 - Q or Current Reports on Form 8 - K.

The debtor obtains debt relief through judicially supervised reorganizations or liquidation of his or her assets for the benefit of creditors.

It is also important to understand that the best person or couple to file this type of filing is a debtor who has little or no assets.

It is a formal restructuring of assets and debts, which allows the debtor to keep paying the debt over time without having to close his or her business.

* Debtors may be able to keep certain assets if the value of the asset is exempt or they are able to reaffirm or redeem the debt.

«Accordingly, the debtor should consider the option of simply filing bankruptcy and expecting to lose the transferred asset.»

Filing for bankruptcy means making financial sacrifices — you may have to pay some of your income to debtors, and possibly sell off valuable assets.

Although this sounds somewhat complicated, it is basically a rule that prohibits a debtor from giving away assets on the eve of bankruptcy.

In chapter 13, it is possible to keep these unexempt assets IF the debtor pays the creditors the value of the asset through the chapter 13 plan.For example, say a debtor is using the New York exemptions and has a car worth $ 10,000, with no loan, and can only exempt $ 4,000 under New York's motor vehicle exemption.

In a Chapter 7 case, a debtor's non-exempt assets are liquidated to pay debts, and the court discharges most debts at the end of the case.

Among their assets listed for the court were a house valued at $ 400,000, but in which the debtors only had about $ 70,000 in equity; and multiple vehicles, only one of which had a value in excess of its indebtedness.

And, we have the example of Argentina doing it in the present with pension assets, and also when their currency blew up — most debtors faced a forced conversion to less valuable bonds.

Creditors benefit because no one creditor is allowed to rush in and grab up all of the debtor's assets, leaving nothing for the other creditors.

Bankruptcy in Canada is a legal process in which a debtor assigns non-exempt assets for the benefit of his creditors in exchange for which he will be discharged from most debts.

The debtor in the illustration does not need to list either of her son's assets on the filing schedules.

Put simply, the job of the chapter 7 trustee is to evaluate each debtor's assets and sell (liquidate) those items that are non-exempt.

If the available exemption laws are insufficient to «cover» all of a debtor's assets, the trustee will come calling.

Judge Bucki granted that motion, noting that the exemption issue had not previously been litigated in this particular case, so no «law of the case» had been established to preclude the debtors from exempting the asset now.

A Chapter 13 Bankruptcy begins with the debtor's attorney filing a voluntary petition, schedule of assets, schedule of liabilities, schedule of income, schedule of expenditures, and other related documents on behalf of the debtor.

Chapter 13 works like this: you, the debtor, stay in possession of your assets.

Debtors will also need to file additional forms including (1) schedules of assets and liabilities; (2) a schedule of current income and expenditures; (3) a schedule of executory contracts and unexpired leases; and (4) a statement of financial affairs.

Unless the property has a high value, most creditors will not go through the expense of trying to seize a debtor's assets.

However, for the 30,000 low income Canadians who file a bankruptcy each year, who have no assets to sell or whose wages are too require an income based payment, a trustee asks for fees up front in the form of a «fee guarantee» and are paid over and above any money collected in a debtor's estate realization such as an income tax refund.

They're big players in the world of debt - buying, where some very big credit reporting and scoring changes affecting millions of consumers are in the works.Encore Capital Group, the huge (more than $ 1 billion in revenue annually) debt - buyer known to millions of debtors by its subsidiaries — Midland Credit Management, Midland Funding, Asset Management and Atlantic Credit & Finance — announced in January 2017 it has imposed a new credit reporting policy that has already affected more than 1 million of their debt - holders:

So even though chapter 13 debtors need not worry about a trustee taking control of their assets, these debtors must be mindful of the amount of nonexempt assets they own, since that amount, at least, must be paid into the chapter 13 plan for distribution to unsecured creditors.

Real creditors (i.e. a bank or finance company) have legal contracts with the borrower granting the lender the right to claim any of the debtor's real assets (e.g. real estate or car) if he or she fails to pay back the loan.

California has very generous exemptions and in most Chapter 7 cases, the debtor (person filing bankruptcy) gets to keep all of his or her assets and walk away from the debt.

Section 350 of the Bankruptcy Code permits a bankruptcy judge to reopen a bankruptcy that has been discharged «to administer assets, accord relief to the debtor, or for other cause.»

Bankruptcy is the process by which an honest debtor surrenders a portion of their assets in exchange for the elimination of their debt.

The term «single asset real estate» is defined as «a single property or project, other than residential real property with fewer than four residential units, which generates substantially all of the gross income of a debtor who is not a family farmer and on which no substantial business is being conducted by a debtor other than the business of operating the real property and activities incidental.»

The Bankruptcy Code provides circumstances under which creditors of a single asset real estate debtor may obtain relief from the automatic stay which are not available to creditors in ordinary bankruptcy cases.

On request of a creditor with a claim secured by the single asset real estate and after notice and a hearing, the court will grant relief from the automatic stay to the creditor unless the debtor files a feasible plan of reorganization or begins making interest payments to the creditor within 90 days from the date of the filing of the case, or within 30 days of the court's determination that the case is a single asset real estate case.

Section 1 presents the basic economic outcomes of student debtor households and looks at total indebtedness in the context of household income and assets.

About four - in - ten college - educated student debtors possess total debts exceeding the value of their assets, hence asset liquidation will not entirely meet their outstanding debts in the event of job losses and other unforeseen economic shocks.

Bankruptcy is a proceeding in a federal court in which an insolvent debtor's assets are liquidated and the debtor is relieved of further liability.

Certainly, this determination will require a special consideration of the debtor's present employment and financial situation - including assets, expenses, and earnings - along with the prospect of future changes - positive or adverse - in the debtor's financial position.

The Panel Trustee will seek turnover of assets held by the debtor or other parties and will arrange for their eventual sale.

The Panel Trustee may also seek to recover assets conveyed by the debtor prior to the filing of the bankruptcy.