Sentences with phrase «liquidate any assets necessary»

If the debt is transferred to the estate, then it's the responsibility of the executor of the estate to liquidate any assets necessary to pay of the credit card debt.

Not exact matches

One to two years is a good goal to store as a combination of necessary supplies and assets that can be reliably liquidated within 3 to 6 months.

(3) propose resolutions of the stockholders of [VNDA] to request that the Board of Directors promptly take all necessary action to swiftly and orderly liquidate [VNDA]'s remaining assets and return all remaining capital to [VNDA]'s stockholders.

Pursuant to the Plan, the Company is also authorized to dispose of its remaining non-cash assets, on such terms and at such prices as the Company's board of directors, without further shareholder approval, may determine to be in the best interests of the Company and its shareholders, to pay or make reasonable provision to pay all claims against and obligations of the Company, to make such provisions as will be reasonably likely to be sufficient to provide compensation for any claim against the Company which is the subject of a pending action, suit or proceeding to which the Company is a party, to distribute on a pro rata basis to the shareholders of the Company the remaining assets of the Company, and, subject to statutory limitations, to take all other actions necessary to wind up and liquidate the Company's business and affairs.

In such a situation, it may be necessary to liquidate assets or even the business itself.

It allows the deceased to be buried and the deceased's family to mourn without having to go into debt, raise the funds, or liquidate an estate that might not even have the assets necessary to cover the cost of a burial.

On the other hand, if you have a lot in assets that can be liquidated to cover additional costs, a lawsuit may be likely, and that is when umbrella insurance becomes necessary.