Sentence examples for debtor assets from inspiring English sources
New York already has a law that shields some debtor assets from creditors and bankruptcy trustees.
This keeps creditors in a Swiss bankruptcy case from running to the United States and grabbing debtor assets outside of the Swiss bankruptcy process.
Lazard, whose professionals have been involved since 1990 in over 250 restructurings representing more than $1 trillion in debtor assets, currently serves as financial adviser to the National Association of Letter Carriers in connection with its dealings with the Postal Service.
The president has also refused an IMF request to veto a bill suspending the bankruptcy law for a further three months, preventing banks from seizing debtors' assets.
Under a law passed in 2005, lenders with collateral have moved ahead of the government in the creditors' queue for debtors' assets.
"Through secret deals with numerous supermarket chains, C&S will itself sell off the debtors' assets, taking for itself and its co-conspirators the value that rightfully belongs to the bankruptcy estate," A.&P. said in its court papers.
"The primary purpose and the plain effect of each of the co-borrowing facilities at issue in this action was to use the debtors' assets to give the Rigas family access to billions of dollars that only the debtors would have the wherewithal to repay," according to the suit.
It means that in cases where the selling company is not hiding anything, the bankruptcy process will be able to maximize the value of the debtor's assets, as those assets will be sold free from the anchor of state law tort claims.
This merely stored up trouble for later.But perhaps the worst problem was that under Mexican bankruptcy law it was, and is, extremely difficult and time-consuming to seize a debtor's assets, making a mockery of the idea that those assets had "secured" the loan.
The problem is that in the Thai legal lexicon, Mr. Sutee said, the word for insolvent means liabilities that exceed a debtor's assets.
Generally, Mr. Wright and other bankruptcy lawyers said, vendors who make deliveries after a bankruptcy petition have some priority if the debtor's assets turn out to be insufficient to satisfy all liabilities.
