Sentences with phrase «debtor has assets»

We are experienced in determining whether or not a debtor has assets, the location of assets, whether they have been fraudulently conveyed or hidden, or dealt with by the debtor contrary to the statutory provisions of the Assignments and Preferences Act, R.S.O. 1990, c. A. 33 and / or Fraudulent Conveyances Act, R.S.O. 1990, c. F. 29, and providing an assessment of viability of recovery of the debt.

If the judgment debtor has assets in Dubai, the judgment creditor can now apply to the DIFC Court for referral of the DIFC Court judgment to the Dubai Courts for enforcement, through the enforcement section of the Dubai Courts (the Execution Court).

Not exact matches

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.

If Yahoo goes up in flames, the debtors (if any) will get first right to get paid see more with whatever assets they have left - presumably only their stake in Alibaba.

So if they file a bankruptcy, the fewer creditors that file claims, the less the debtor has to pay back in chapter 13 plan payments or a chapter 7 buyback (a chapter 7 case which has assets that are unexempt).

However, the new bankruptcy law does not give all bankrupt debtors the opportunity to reorganize their assets; they may still have to prove that they can pay theirs debts as arranged with their income.

We've said it time and again on the forum: Tax refunds are the number one asset that trustees routinely take from debtors.

The debtor also has the option to keep assets such as a house or a car.

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.

Current lenders would want to maintain their existing position in the priority hierarchy, to ensure they have the strongest possible position from which to seize assets or otherwise stake a claim on collateral should the debtor default.

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.

A lien allows the creditor who has obtained a judgment against a debtor to have a judgment attached to the debtor's assets, such as real estate.

For those in a Chapter 13 bankruptcy, when a court - ordered repayment plan allows debtors to keep their assets, transferring property improperly may result in having their payment plan denied.

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

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.

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.

For example, if a debtor's secured debt exceeds $ 1,081,000 and / or combined unsecured debt exceeds $ 360,475, and the debtor wishes to keep delinquent assets, the only viable bankruptcy recourse would be to file for Chapter 11 bankruptcy protection.

Most debtors do not qualify for Chapter 7 bankruptcy, however, because they do not have enough qualifying assets to cover their bills.

Many times, debtors do not have any assets.

Courts have consistently held that debtors have an absolute duty to report whatever interest they have in property even if they believe their assets are worthless or are unavailable to the bankruptcy estate.

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 debtor's failure to disclose or significantly undervalue assets in the bankruptcy Petition and Schedules can have serious consequences.

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:

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.»

Furthermore, unless a collection agency has won a lawsuit against a debtor, it can't legally seize assets from a debtor or physically harm or threaten a debtor to make payment.

Do student debtors have less wealth because they have more debts, fewer assets, or both?

But among households headed by a young adult without a bachelor's degree, student debtors tend to have more total assets ($ 27,500) than those without student debt ($ 18,600).

A Panel Trustee is appointed in each Chapter 7 case to review the bankruptcy petition and schedules filed with the Court and to determine if the debtor has any non-exempt assets available for distribution to creditors.

The debtor is known as an insolvent when their liabilities exceed their assets and they don't have the ability to pay their debts.

A chapter 7 debtor with priority debt needs to have a fairly thorough analysis done of both the assets the debtor owns as well as the nature of the priority debt the debtor owes to make a decision as to whether to file a chapter 7 bankruptcy case.

If the money gifted to the super-rich bankers had instead been distributed equally to all, then the debtors would have been able to keep up their mortgages and loan payments, and the toxic mortgage assets would have proven considerably less toxic.

«It would therefore be an asset that would be available to creditors, unless the debtor can exempt them under state or federal exemptions.

At Lipson Neilson, we have represented a wide variety of business restructuring scenarios including debtors, pre - and post-bankruptcy lenders, trade creditors, landlords, public bondholders, trustees, official committees, liquidating trustees, assignees for the benefit of creditors, and asset purchasers.

This caused an undesirable barrier to those wishing to register a foreign judgment in the BVI against a foreign judgment debtor from a non-Part 72 country, who had assets in the BVI.

In reaching this decision, the Jersey Royal Court has demonstrated not only that it will take an innovative and pragmatic approach to ensure that freezing orders are effectively policed, but also that it will assist foreign courts in the enforcement of judgments by ordering judgment debtors within its jurisdiction to make disclosure of their worldwide assets.

His diverse insolvency and bankruptcy practice experience has involved the representation of secured and unsecured creditors, creditors» committees, debtors, trustees, liquidating trusts, lessors, and purchasers of stock or assets of insolvent entities.

Would you like some new and inexpensive ways to: prove that an ex-spouse can afford to pay child support, find a disgruntled former employee who knows where the skeletons are hidden, locate assets of a judgment debtor, serve process when you don't have a current address, identify an expert witness, find lost heirs, or uncover bias in potential jurors?

Where the Jersey Court has in personam jurisdiction over the judgment debtor, such disclosure orders could be granted in respect of a judgment debtor's worldwide assets, even if only assets within the jurisdiction had been frozen **.

Debtors who have many assets may find filing Chapter 13 bankruptcy attractive because they could be able to keep most of their property.

Debtors who have a large amount of assets may be able to keep most of their property by filing Chapter 13 bankruptcy.

In circumstances where principles of sovereign immunity fetter the ability of an award creditor to execute against the assets of a state debtor, an alternative route that has gained increasing traction has been the possibility of executing against the assets of a State - Owned Enterprise (SOE) through a legal technique known as «reverse piercing.»

Malcolm has extensive experience representing lenders and borrowers in secured and unsecured debt financings, including syndicated senior bank credit facilities, first and second lien financings, asset - based (ABL) credit facilities, mezzanine and other subordinated debt financings, debtor - in - possession financings, public and Rule 144A debt offerings, and convertible debt transactions.

In this case, however, the Court is asked to determine whether the Ontario courts have jurisdiction to recognize and enforce an Ecuadorian judgment where the foreign judgment debtor, Chevron Corporation («Chevron»), claims to have no connection with the province, whether through assets or otherwise.

«If anyone has any actual examples of bankruptcy debtors using «asset protection trusts» to shield large amounts of assets in bankruptcy, and bankruptcy courts allowing them to do it, I would appreciate the cites to the cases.

«I am not prepared to adopt, as the defendant's argue, a blanket principle that an Ontario court lacks jurisdiction to entertain a common law action to recognize and enforce a foreign judgment against an out - of - jurisdiction judgment debtor in the absence of a showing that the defendant has some real and substantial connection to Ontario or currently possesses assets in Ontario... No jurisprudence binding on me has expressly placed a gloss on that ability to assume jurisdiction by requiring the plaintiff to demonstrate that the non-resident judgment debtor defendant otherwise has a real and substantial connection with Ontario.»