Sentences with phrase «proceeding against a trustee»

Not exact matches

(1) Before executing a contract or agreement with or receiving money or other valuable consideration from a buyer, a credit services organization shall provide the buyer with a written statement containing: (a) A complete and detailed description of the services to be performed by the credit services organization for the buyer and the total cost of the services; (b) A statement explaining the buyer's right to proceed against the surety bond or surety account required by section 45 - 805; (c) The name and address of the surety company that issued the bond or the name and address of the depository and the trustee and the account number of the surety account; (d) A complete and accurate statement of the buyer's right to review any file on the buyer maintained by a consumer reporting agency as provided by the Fair Credit Reporting Act, 15 U.S.C. 1681 et seq.; (e) A statement that the buyer's file is available for review at no charge on request made to the consumer reporting agency within thirty days after the date of receipt of notice that credit has been denied and that the buyer's file is available for a minimal charge at any other time; (f) A complete and accurate statement of the buyer's right to dispute directly with the consumer reporting agency the completeness or accuracy of any item contained in a file on the buyer maintained by the consumer reporting agency; (g) A statement that accurate information can not be permanently removed from the files of a consumer reporting agency; (h) A complete and accurate statement of when consumer information becomes obsolete and of when consumer reporting agencies are prevented from issuing reports containing obsolete information; and (i) A complete and accurate statement of the availability of nonprofit credit counseling services.

In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a trustee, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such trustee, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in such Act and will be governed by the final adjudication of such issue.

Article VIII of Registrant's Amended and Restated Agreement and Declaration of Trust (Exhibit (a) hereto, which is incorporated by reference) provides in effect that Registrant will indemnify its officers and trustees against all liabilities and expenses, including but not limited to amounts paid in satisfaction of judgments, in compromise, or as fines and penalties, and counsel fees reasonably incurred by any such officer or trustee in connection with the defense or disposition of any action, suit, or other proceeding.

In the event that a claim for indemnification against such liabilities (other than the payment by Registrant of expenses incurred or paid by a trustee, officer or controlling person of Registrant in the successful defense of any action, suit or proceeding) is asserted by such trustee, officer or controlling person in connection with the securities being registered, Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the 1933 Act and will be governed by the final adjudication of such issue.

bankruptcy law co-counsel to private equity fund in interpleader action against chapter 11 trustee over proceeds of stock warrant; client prevailed in bankruptcy court bench trial and on trial de novo in district court.

The new trustees now faced a classic dilemma; at the point where funds available were lowest, they had to decide whether to proceed with a case against the original trustees with all the inherent risks that entailed in terms of adverse costs if they lost or, not take action but risk a future claim by the trust's beneficiaries for failing to carry out their duties in properly preserving the trust's assets.

The trustee brought an adversary proceeding against Ihejirika and his companies, alleging that the Web - based program had acted as a «bankruptcy petition preparer» in violation of the law and had engaged in the unauthorized practice of law.

Some of the more frequently overlooked (and therefore dangerous) limitation periods include: i) the limitation period set out in section 38 (3) of the Trustee Act which applies to certain claims brought by or against the estate of a deceased person; ii) the 6 month limitation period for dependent's relief claims that is set out in section 61 of the Succession Law Reform Act; and iii) the one year limitation period set out in section 259.1 of the Insurance Act, which applies to «a proceeding against an insurer under a contract in respect of loss or damage to an automobile or its contents».

Notwithstanding this, the Ontario Court of Appeal held that the award did not mean there was an equitable trust in the proceeds effective against the trustee in bankruptcy.

When parents leave a house to their two children and one child wants all of the house, the Trustee of a trust may be able to borrow against the house, put the loan proceeds into a trust bank account and distribute the home to one child and the loan proceeds (cash) of equal value to the other child.