Sentences with phrase «unsecured claims»

However, the court may give some unsecured debts, such as delinquent tax, child support or alimony, priority over other unsecured claims.

Keeping a potential unsecured claim for a mortgage deficiency out of a chapter 13 plan can be a huge savings in how much you have to pay during the plan.

Most unsecured claims that have top priority are listed above in the priority claims list.

You paid at least 70 % of the allowed unsecured claims, the plan was proposed in good faith and payments were done with your best effort.

High Credit Quality Covered bonds are different from typical U.S. corporate debt in that, in the event of a default, covered bondholders not only have a senior unsecured claim against the issuer but also a preferential claim to a segregated, actively maintained «cover pool» of assets.

According to the US Courts website, not all debts need to be paid in full in Chapter 13 proceedings: The plan need not pay unsecured claims in full as long it provides that the debtor will pay all projected «disposable income» over an «applicable commitment period,» and as long as unsecured creditors receive at least as much under the plan as they...

The plan need not pay unsecured claims in full as long it provides that the debtor will pay all projected «disposable income» over an «applicable commitment period,» and as long as unsecured creditors receive at least as much under the plan as they would receive if the debtor's assets were liquidated under chapter 7.

There are two types of unsecured claims, priority and non-priority.

Non-priority unsecured claims include such things as credit cards, bills, personal signature loans, and unsecured lines of credit.

Your repayment plan must include plans to pay priority claims in full, pay secured claims at minimum the value of the collateral and pay unsecured claims up to the amount creditors would receive if your assets were liquidated.

Chris Bushell Qualified: 2004 Made partner: 2014 Key cases: Advising G4S in relation to claims arising out of its contract to provide security services for the London 2012 Olympic and Paralympic Games; advising Lehman Brothers Finance SA (In Liquidation) in relation to a range of proprietary and unsecured claims arising out of the collapse of the Lehman group.

According to court documents, some of the other creditors include Vision Appraisal in Massachusetts at $ 2.6 million and Marshall & Swift in Wisconsin at $ 815,000 holding the largest unsecured claims.

The S.C.C. found that an equalization payment is a debt, not a proprietary interest, and as such it is to be treated like any other unsecured claim under the BIA.

We developed a novel approach to resolving the over $ 10,000,000 in secured and unsecured claims against the companies to allow for the sale of the companies» assets.

The plan does not have to pay unsecured claims in full, as long as it commits all of the debtor's projected «disposable income» (or property of equivalent value) to plan payments over a 3 to 5 year period, and as long as the unsecured creditors are to receive at least as much as they would receive if the debtor's nonexempt assets were liquidated under chapter 7.

The school also owes rent to several other race tracks across America, including $ 239,617.19 to Road Atlanta, $ 169,568 to California's Monterey County (the lawful owner of Mazda Raceway Laguna Seca), $ 112,000 to Mid-Ohio, $ 105,983 to Palm Beach International Raceway, $ 56,623.77 to Virginia International Raceway, and $ 29,600 to Willow Springs, among other unsecured claims to creditors.

The unsecured claim was $ 73 million, or 42 percent of the $ 172 million outstanding balance.

Section 507 sets forth 10 categories of unsecured claims which Congress has, for public policy reasons, given priority of distribution over other unsecured claims.

If there is a creditor who holds a second mortgage on a property and has not filed a lien, there is the likelihood that a bankruptcy court will require the creditor to file a proof of claim, and the debt will be treated like an unsecured claim.

Mortgages that are against the debtor's house and where the repayment period extends beyond the end of the plan can not be modified in Chapter 13, but here, where the repayment period was within the plan period, the debtor could bifurcate, or divide, the mortgage into a secured and unsecured portion and pay off the unsecured part as an unsecured claim.

Unsecured claims.

If a debt is not secured by collateral then a creditor has an unsecured claim.

Any alimony or support arrears for the 12 months prior to the date of bankruptcy are considered a preferred claim and are paid out of the proceeds of the bankrupt estate before any other unsecured claims.

Any shortfall would be included, and forgiven, as an unsecured claim in your proposal.

Other claims are then paid in their respective order as follows: wage claims to the extent of $ 4,000; contributions to employment benefit plans; customer deposits to the extent of $ 1,800; claims for debts due a spouse for alimony or child support; secured taxes; priority taxes and unsecured claims.

If the counterparty (The Globe and Mail reported that the initial counterparty is National Bank) becomes bankrupt, unitholders will not have any recourse against its assets but will have an unsecured claim against the counterparty.

A Senior Loan is senior to all unsecured claims against the borrower and senior or equal to all other secured claims, meaning that, in the event of a bankruptcy, the Senior Loan, together with other first lien claims, is entitled to be the first to be repaid out of proceeds of the assets securing the loans, before other existing claims or interests receive repayment

The settlement, which comes less than three months after the firm declared bankruptcy, is designed to help repay creditors owed some $ 250m (# 159m) in secured debt and at least $ 300m (# 190m) more in unsecured claims.

Unsecured claim: A debt for which credit was extended based solely upon the creditor's assessment of the debtor's future ability to pay, rather than on a special assurance of payment.

The remaining $ 50 million would be used to pay the unsecured claims against the company, including the claims of the customers who had owned the funds.

If that occurs, the investor is left with an unsecured claim against a bankrupt custodian.