Sentence examples for class of creditors from inspiring English sources

In bankruptcy proceedings, a majority of each class of creditors must approve a reorganization plan.

Every class of creditors entitled to vote on its plan has supported it, the company said.

The law bars a debtor from transferring funds in a way that protects one class of creditors over another.

Legally, Tawil said the offer was open to challenge because bankruptcy must treat each class of creditors equally.

The principal benefit went to the directors, who avoided personal liability to a class of creditors to whom the board owed no further duty under the circumstances.

We take into account, as well, the complementary principle that preferential treatment of a class of creditors is in order only when clearly authorized by Congress.

As well as issuing unsecured bonds, Meridian had borrowed around $485m in first- and second-lien loans.For a restructuring deal to go through, it has to be approved by a majority (defined differently in different countries) of each "class" of creditor.

Some say it means that a debtor can't give preference to one class of creditor over another; others say it means that a debtor can't make individual payments on a loan unless it's current on all payments under that loan.

Every class of creditor supports the plan except the government, which appears to have negotiated the lowest recovery of all the creditors.

Intercreditor agreements generally govern the rights of multiple classes of creditors vis à vis each other.

Sweden won leeway for even more flexibility to make exemptions to certain classes of creditors in exchange for other commitments.