Meldrum, Brian H
Without limiting the foregoing and in addition thereto, and to the extent permitted by applicable law, the Subordinated Creditor irrevocably authorizes the Collateral Agent to do, make, execute, deliver and file on behalf of the Subordinated Creditor a claim, proof of claim, direction to pay, pet...
Assuming your proof of claim was filed correctly, you may have a valid claim. However, the process has only just begun. This is only the first step in a long and arduous process. Depending upon many factors which includes the economy, capital markets, industry sector, litigation in the bank...
ageneralcreditorhasnoautomaticrighttoanypartofthedebtor'sproperty,andmustfileaproofofclaiminbankruptcycourt.In ano-assetChapter 7 bankruptcy,mostdebtsaredischargedtothedetrimentofthegeneralcreditor.In anassetChapter7case,unsecuredpropertyisliquidatedanddistributedtogeneralandothercreditorsaccordingtothebankruptcycourt...
With that said, they can claim a part of the assets in case the debtors go bankrupt. Personal lenders might use the non-repaid amount as a short-term capital gains loss for income tax benefit. However, to make sure they convert their loss into a tax gain, they need to reclaim the ...
action (of which a Responsible Officer of the Trust Collateral Agent has actual knowledge) seeking the avoidance as a preferential transfer under applicable bankruptcy, insolvency, receivership, rehabilitation or similar law (a "Note Preference Claim") of any distribution made with respect to the ...
Usually this will lead the judgment creditor to seek a writ of attachment, the legal means by which property is seized. To secure a writ of attachment, the judgment creditor must first place a judgment lien on the property. Also called an encumbrance, a lien is a legal claim on the ...
The original claim did not have to arise out of a debt—it could have been an automobile accident,a promissory note,an award in a divorce case,or anything at all. The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-...
Marcos A. Ramos
Also discussed are AED requirements, including proof that the separate personalities of the corporation and the individual no longer exist.KeithAssociateJohnAssociateC.AssociateBankruptcy Litigation