Sentences with phrase «unsecured creditors who»

Not exact matches

Its biggest group of unsecured creditors are bondholders represented by the Bank of New York Mellon who are owed $ 658 million.

What's left of any money from that sale would go to priority creditors, such as staff owed back pay and possibly students who paid tuition in advance, and then other unsecured creditors.

If creditors who are owed a majority of the debt agree, the proposal will be binding on all unsecured creditors.

Unsecured Debt: Debt to a creditor who does NOT have any collateral securing the debt.

To average debtors who owe sums of unsecured loans to different creditors finding a good debt consolidation company can be a godsend.

Unsecured creditors are lenders who don't have any collateral to secure their debts.

In a business bankruptcy employees who are owed wages are preferred creditors, and receive payments before regular unsecured creditors.

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.

Although secured debts are handled differently than unsecured debts in the bankruptcy process, there are extenuating circumstances that may subject a creditor who holds a secured debt to bankruptcy laws, especially after a bankruptcy closes.

If you were to ask an IVA advisor «who can enter into an IVA», more often than not, they'll tell you that you must owe # 15,000 or more in unsecured debts, have three or more creditors and that you can afford to pay # 200 towards your unsecured debts each month.

Generally, it's best used with creditors who hold unsecured debt, which is debt not tied to any property the creditor can repossess — credit card bills, medical bills, or anything being handled by a collection agency.

Its biggest group of unsecured creditors are bondholders represented by the Bank of New York Mellon who are owed $ 658 million.

In a consumer proposal, a Licensed Insolvency Trustee makes a formal proposal to your unsecured creditors based on various factors such as your total debt, who your creditors are, current income and the value of any realizable assets.

Having said that, if you fall behind on credit cards, your lender will quickly try to transition from an unsecured creditor, who can't take your stuff, to a secured creditor who can.

An unsecured creditor is one who has provided credit but who does not have any security for the amount owed to them.

Criticism levelled by unsecured creditors, who are often uninformed and given no opportunity to protect their position before the pre-pack takes place;

Unsecured creditor: A creditor without collateral; a person owed money who has no rights in specific property as security for the debt.

As it was a CVA they were swamped by the votes of unsecured creditors and those not connected to the closed premises who stood to lose nothing under the CVA.

Eric von Helms is an experienced creditors» rights lawyer who specializes in the representation, protection and assertion of business and commercial claims of secured and unsecured creditors.

Chapter 7 bankruptcy, also known as liquidation, is a relatively quick method to wipe out unsecured debt, such as credit card balances and medical bills, in return for giving up all your non-exempt property to the bankruptcy trustee, who will sell it and use the proceeds to pay your creditors.

A trustee is a court appointed attorney who manages the property of the debtor for the principal benefit of the unsecured creditors.

Columbus, who chaired his former firm's bankruptcy group, focuses his practice primarily on business reorganization matters and out - of - court debt restructurings in a wide range of matters for a diverse group of clients, including banks and other financial institutions, secured creditors, unsecured creditors, creditor committees, debtors, plan trustees and buyers of distressed assets.

I see no unfairness to those creditors who, presumably, were earning a premium on their investment because it was unsecured.

E.D.Va., 2008), in the Eastern District of Virginia, Richmond Division, the bankruptcy judge held that the disposable income of an above - median - income debtor can be determined using the monthly income resulting from Official Form B22C, the means testing form, minus the expenses allowed by 11 U.S.C. 707 (b)(2)(A)(iii), including payments on a luxury goods, like BMWs, and an expensive, $ 700K home, even if such payments were at the expense of the unsecured creditors, who were only receiving a 3 % dividend.

Since in a bankruptcy proceeding unsecured creditors generally get paid before common shareholders, creditors who are afraid they might lose their investment can sometimes force a bankrupt company to accept a bid that undervalues its stock, notes Todd Sullivan, a Massachusetts - based investor and author of the Value Plays blog.