Sentences with phrase «claim as creditor»

Finally, the court considered whether a claim as creditor gives Mr Randall an interest in the estate.

Not exact matches

Filings from administrator KordaMentha, lodged after creditors including Murdoch pulled a debt guarantee, showed CBS in July claimed A$ 844 million owed for licensing shows such as NCIS and CSI: Crime Scene Investigation.

Do not — repeat, do not — name your estate as your individual retirement account beneficiary or it will be subject to claims and creditors during probate, the legal process for settling your estate.

Junior creditors led by Appaloosa Management remain the biggest hold - outs in the CEOC bankruptcy, and have said they have as much as $ 12 billion in claims against Caesars Entertainment and its private equity backers, Apollo Global Management LLC and TPG Capital LP.

If an error on your credit report goes unchecked, lenders and creditors may deny you a claim as a result.

Maybe that's why it was chosen as a platform via which all the creditors of Mt.Gox could easily receive their claims.

The property being used as collateral is then sold and the money obtained from the sell is used to repay the loan plus any damages and the remaining can be claimed by the previous owner or by the other creditors.

The Bankruptcy Code allows debtors to claim certain necessary property as off - limits from creditors and the trustee.

The reasoning behind this is simple: life insurance proceeds are meant to be property of the beneficiary and as such shouldn't be subject to the claims of creditors of the insured.

You might also want to set up your business as an S corporation or limited liability company, which can protect your personal finances from claims against your business by creditors.

Exemption laws have been enacted by every state as well as the federal government to protect the property of debtors against the claims of judgment creditors and, once a bankruptcy case is filed, the trustee.

If you have a personal or workplace pension that you can claim during the proposed term of your IVA, your creditors may agree to exclude it as an asset.

The bankruptcy court treated the $ 7,000 second mortgage as an unsecured debt and discharged the debt when the creditor did not make any proof of claim for the money.

According to bankruptcy rule 3002 (a), Necessity for Filing, an unsecured creditor or an equity security holder must file a proof of claim or interest for the claim or interest to be allowed, except as provided in Rules 1019 (3), 3003, 3004, and 3005.

In other words, creditors of the broker are not permitted to claim the funds in these segregated accounts as part of the broker's assets which can be used to pay off the broker's debt.

However, it's important to reply to the letter of claim within the timeframe given, as a creditor can begin court action if you don't.

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

The right, available in most states and in the bankruptcy process, to treat your residence as exempt property that can not be sold to satisfy the claims of unsecured creditors.

Keep in mind, that the Settlement Proposal also typically includes Claims against the creditor as well (see collection abuses) which makes the offer VERY APPEALING!

And this is especially true if there are counter claims against the creditor as well due to collection abuses.

As long as the bankruptcy does not involve payment of a dividend to creditors (there's a deadline for creditors to file claims in this situation), the creditor can be added at any timAs long as the bankruptcy does not involve payment of a dividend to creditors (there's a deadline for creditors to file claims in this situation), the creditor can be added at any timas the bankruptcy does not involve payment of a dividend to creditors (there's a deadline for creditors to file claims in this situation), the creditor can be added at any time.

Further, under U.S. law, in the case of the insolvency of JPMorgan Chase Bank, N.A., the claims of creditors in respect of accounts (such as the Trust's Deposit Accounts) that are maintained with an overseas branch of JPMorgan Chase Bank, N.A. will be subordinate to claims of creditors in respect of accounts maintained with JPMorgan Chase Bank, N.A. in the U.S., greatly increasing the risk that the Trust and the Trust's beneficiaries would suffer a loss.»

As fixed claims grow relative to equity claims, the economy becomes less flexible, because many are counting on the debts for which they are creditors to be paid back at par.

A debt collector could claim your payment as evidence you agreed to the terms set by your original creditor — and the settlement you worked so hard to get goes up in smoke.

During bankruptcy, you can surrender property and it can be sold to as much of the debt as possible to the creditor that holds the secured claim against it.

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

«Any claim that the pension fund has as an unsecured creditor of Sears can not be fully evaluated until that process plays out [so] the percentage of the wind - up benefits that the fund will be able to pay will not be known for some time.

Otherwise as Duff points out you will likely need to file a small claims lawsuit and get in line with any other creditors.

The same principle applies to other misleading claims, such as that the companies can stop creditor calls or collection lawsuits.

The primary consumer protection problem areas that have given rise to the States» actions include: (1) unsubstantiated claims of consumer savings; (2) deceptive representations about the length of time necessary to complete a debt relief program; (3) misleading or failing to adequately inform consumers that they will be subject to continued collection efforts, including lawsuits, and that their account balances will increase due to extended nonpayment under the program; (4) deceptive disparagement of consumer credit counseling; (5) deceptive disparagement of bankruptcy as an alternative for debtors; (6) lack of screening and analysis to determine suitability of debt relief programs for individual debtors; (7) the collection of substantial up - front fees so the debt relief company gains even if it fails to perform; (8) lack of transparency and information for consumers as to payment of fees, status of accounts, and communications with creditors; (9) significant delays in active negotiation or engagement with creditors, coupled with prohibitions on direct consumer communications with creditors; and (10), in the case of debt settlement companies, basing savings claims (and settlement fees) not on the original account balance, but on the inflated amount due (including late fees and default rates of interest) at the time of settlement.

If there is not enough money to pay the total of what is owed, the secured creditor is allowed file a proof of claim as an unsecured creditor.

The Front DSCs offer to act as intermediaries between distressed and distraught debtors and their creditors, using inflated claims and misrepresentations about their services to sign up customers, and charging exorbitant and abusive fees once the mark is on the hook.

It's also worth noting that under the Late Payment of Commercial Debts (Interest) Act, creditors have the statutory right to claim interest on late payments — as you will have warned in your initial payment terms.

In allowing the appeal as it related to «collective» claims by creditors, the Court of Appeal observed that there are no policy reasons for artificially limiting the procedural options open to a Trustee in fulfilling its core obligation of bringing in the assets of the bankrupt.

Deals with clients in business litigation such as that between Pillsbury and the SonicBlue board may be perfectly reasonable in most situations, but in bankruptcy, where the interests of creditors are paramount in a debtor - in - possession situation, such a deal undermines the entire process because Pillsbury could not be expected to fully pursue claims against the board if Pillsbury was potentially on the hook for any damages by agreement.

The French Republic observes that specific procedures, which do not give creditors any guarantee that they will recover all of their claims, are applicable to [EICCs]-LSB-...] the primary objective of which was to regulate situations in which public entities, although solvent, refused to honour certain debts, established a scheme of enforcement remedies, which give the governing body the power to substitute itself for the executive of a publicly - owned establishment so as to release the «necessary credits» — and not State resources — in that establishment's budget, with a view to satisfying potential creditors.

As with personal insolvency the assets of the company are distributed according to the rank of the creditors and the amount claimed, but a liquidator appointed by the Department of Trade and Industry undertakes the distribution of the assets.

If a debt is greater than the limit but the creditor will accept an amount equal to or less than the limit as full payment, the creditor can still go to Small Claims Court (for more information on Small Claims Court, see the PLEA publication Small Claims Court).

If this is the case the remainder of the monies owed must be claimed by the employee as a creditor.

The argument continued that claims for financial provision are not entirely personal because they may include sums which will be paid to creditors, (and that would presumably always be the case where the trustee was (as here) interested in the outcome).

Though card holders legally have the right to assert a creditor's claim in bankruptcy, as this post notes, filing a claim is likely a worthless endeavor.

Successfully obtained a dismissal of all claims brought by alleged creditor who was seeking to collect a debt that was incurred as a result of identity theft;

His recent work includes Ocean Rig (acting with Michael Todd QC for the opposing creditors in a $ 3.7 billion Cayman Islands restructuring), TPD Investments (acting with Michael Todd QC in a shareholder dispute concerning the affairs of a company owning two of the UK's largest hotels) and First Names v IFG (acting as sole counsel for the successful claimants in the Commercial Court trial of an SPA indemnity claim raising several issues of Jersey company law).

Despite obviously being attracted by the argument that the potential creditors» claims would all be statute - barred, the judge nonetheless held that the potential creditors» counter-arguments reached the CPR Pt 24 real prospect standard and therefore approached the case as though the claims were not statute - barred.

Applying the common - law «interest stops rule» normally applied in Bankruptcy and Insolvency Act proceedings, Justice Newbould ruled that post-filing interest was not payable on the Crossover Bonds.5 Justice Newbould began his reasons with reference to the «fundamental tenet of insolvency law that all debts shall be pari passu and all unsecured creditors [shall] receive equal treatment».6 Justice Newbould found that the status quo with respect to unsecured creditors should be maintained as at the date of Nortel's filing and that to permit certain claims to grow disproportionately to others during the CCAA stay period would violate the status quo.

BAT Industries v Sequana Acting for BAT Industries in a multi-party, multi-jurisdictional commercial dispute concerning liability for environmental pollution of rivers in the United States, and a claim in Chancery Division for over US$ 800 million in respect of dividends paid out by a company in the face of a contingent indemnity liability in respect of such pollution, allegedly unlawfully, in breach of fiduciary duty and as a transaction defrauding creditors under s423 Insolvency Act 1986.

Our work includes advising on cross-border insolvency regulations, serving as special maritime counsel to numerous creditor committees, advising on cross-border asset recovery actions, obtaining recognition orders and stays of arbitration and litigating fraud and misrepresentation claims.

News of the reappointment of BDO joint administrators Dermot Power and Shay Bannon comes as it emerges that unsecured creditors may have to share a maximum of # 600,000, despite BDO receiving claims worth # 191.5 m.

U.S. Bankruptcy Judge Kevin Gross and Justice Frank Newbould said in separate opinions that each regional business would receive cash to pay its creditors based on their claims against it as a percentage of the overall claims worldwide.

The plaintiff also alleges that before abandoning the lease, Dynasty transferred funds and assets to various corporations and individuals and claims a declaration that Dynasty's alleged transfer of monies, assets, business and opportunities from itself to the co-defendants Polar Spas Ontario Inc. and 732311 Alberta Ltd., and its transfer of monies or assets to the defendant Williams and to the co-defendants Marsall Brent and Ken Nikel are void as against Dynasty's creditors as fraudulent conveyances.