priority of creditors
111Secured transactions in the United States — are an important part of the law and economy of the country. By allowing lenders to take a security interest in a debtor s asset as collateral, secured transactions provide lenders with greater confidence that they will be repaid. This increased… …
112Administrative receivership — is a procedure in the United Kingdom [See sections 29(2) and 251 of the Insolvency Act 1986 and Article 5(1) of the Insolvency (Northern Ireland) Order 1989 for the definition of administrative receiver under the laws, respectively, of England… …
113Tracing (law) — Tracing is a legal process, not a remedy, by which a claimant demonstrates what has happened to his/her property, identifies its proceeds and those persons who have handled or received them, and asks the court to award a proprietary claim against …
114brazil — /breuh zil /, n. brazilwood. [1350 1400; ME brasile < ML < It < Sp brasil, deriv. of brasa live coal (the wood being red in color) < Gmc; see BRAISE] * * * Brazil Introduction Brazil Background: Following three centuries under the rule of… …
115Brazil — Brazilian /breuh zil yeuhn/, adj., n. /breuh zil /, n. a republic in South America. 164,511,366; 3,286,170 sq. mi. (8,511,180 sq. km). Cap.: Brasília. Portuguese and Spanish, Brasil. Official name, Federative Republic of Brazil. * * * Brazil… …
116Spain — /spayn/, n. a kingdom in SW Europe. Including the Balearic and Canary islands, 39,244,195; 194,988 sq. mi. (505,019 sq. km). Cap.: Madrid. Spanish, España. * * * Spain Introduction Spain Background: Spain s powerful world empire of the 16th and… …
117cramdown — In Chapter 13 bankruptcy, a reduction in the amount of a secured debt the debtor must repay to the replacement value of the collateral securing the debt. For example, if a debtor owes $5,000 on a car that s worth only $3,500, a cramdown would… …
118unsecured creditor — see creditor Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. unsecured creditor …
119crammed down — USA cramdown, Also known as crammed down. The mechanism by which a court may confirm (confirmation) a Chapter 11 plan of reorganization over the objections of a dissenting class of creditors, if the plan: • Has been accepted by at least one …
120Liquidation — 1. When a business or firm is terminated or bankrupt, its assets are sold and the proceeds pay creditors. Any leftovers are distributed to shareholders. 2. Any transaction that offsets or closes out a long or short position. Creditors liquidate… …
