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Special Report on

Secured creditor definition

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Under the Companies Act 1993, companies planning to amalgamate must give notice of their proposed amalgamation to their "secured creditors". In this article, Bell Gully senior associate Louise Hill considers who is a "secured creditor" for the purposes of giving such notice in light of the recent decision of the Court of Appeal in Dunphy and Shephard v Sleepyhead Manufacturing Company Ltd and the backdrop of the Personal Property Securities Act 1999 (PPSA). Companies Act Under section 221(4) of the Companies Act 1993 (the Companies Act), the board of each amalgamating company must, not less than 20 working ...
The aim of UK insolvency law is to create a final safety net, to prevent businesses that could be viable from going under. The Financial crisis of 2007–2010 , which the collapse and nationalisation of Northern Rock foreshadowed, will produce a big upswing in business failure. United Kingdom insolvency law deals with the insolvency of firms and individuals in the United Kingdom . The primary pieces of legislation are the Insolvency Act 1986 and the Enterprise Act 2002 . Insolvency is a term which encompasses both companies and individuals, though the term bankruptcy is generally reserved for individuals in the UK. United Kingdom ...
Mardia Chemicals V Idbi ?case Study , Onset of Securitization in India
In a notice dated July 24, 2002 to Mardia Chemicals Ltd., the Industrial Development Bank of India (for small `the IDBI’) under Section 13 of the Ordinance, then in force, required it to pay the amount of arrears indicated in the notice within 60 days, failing which the IDBI as a secured creditor would be entitled to enforce ... market research, surveys and trends
Glossary of Bankruptcy Terms – Terms you should know
A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the court. A nonexclusive list of adversary proceedings is set forth in Fed. R. Bankr. P. 7001. assume An agreement to continue performing duties under a contract or lease. automatic stay An injunction that automatically stops lawsuits, foreclosures, garnishments, and all collection activity against the debtor the moment a bankruptcy petition is filed. bankruptcy A legal procedure for dealing with debt problems of individuals and businesses; specifically, a case filed under one of the chapters of title 11 of the United States Code ... market research, surveys and trends


Survey Benchmarks Lenders' Environmental Due Diligence Practices ...
Environmental risk is a credit risk. Ninety-four percent of banks surveyed have a formal environmental policy in place. Is your existing policy sufficient? If you don't have such a policy, is it time to create one? IMAGE PHOTOGRAPH 1 The combination of current market conditions and pressure from regulators to better manage commercial real estate risk has caused lenders to tighten underwriting standards, including environmental due diligence, a new survey finds. Today, environmental risk management is such an integral part of the commercial underwriting process that 94 percent of banks have a formal environmental policy in ... industry trends, business articles and survey research
When a reorganization plan is filed,
definition of an undersecured creditor's allowed secured claim is altered. After the .... element ($516000, which equals 20 percent of $2.58 million). ... industry trends, business articles and survey research
On April 14, 2010, Plaintiff filed a motion for summary judgment seeking a court finding of nondischargeability under 11 U.S.C. § 523(a)(6). Defendant opposed the motion with the filing of a response on May 4, 2010. Subsequently, Plaintiff filed a reply memorandum. Defendant moved to strike the reply as untimely on May 25, 2010. The motion to strike is unopposed. The court has jurisdiction of this proceeding pursuant to 28 U.S.C. §§ 1334 and the general order of reference entered in this district on July 16, 1984. Venue in this district and division is proper pursuant to 28 U.S.C. § 1409. This is a core ... market trends, news research and surveys resources
This case raises the issue whether a debtor, as part of a proposed chapter 13 plan, may modify the contract interest rate payable on an allowed secured claim for a so-called "910-vehicle" that is subject to the so-called "hanging paragraph" of section 1325 of the Bankruptcy Code. The debtor concedes that the principal amount of the secured claim must be paid in full, but argues that the contract interest rate may be modified to the "Till" interest rate. For the reasons explained below, the Court agrees with the debtor. Javier Velez ("Debtor") filed this chapter 13 case on February 12, ... market trends, news research and surveys resources


Secured creditors: no access to prescribed part - 21744, Secured ...
contains a definition of 'secured creditor' (one holding security) and ' unsecured creditor' (one without security). Section 176A(3) provides that where an ... technology research, surveys study and trend statistics
CERCLA Lender Liability Exemption: Updated Questions and Answer
The secured creditor exemption removes qualifying lenders from the definition of . “owner” or “operator” under CERCLA. However, CERCLA also imposes liability ... technology research, surveys study and trend statistics
Foreclosure of Security Interests in Personal Property
Lenders typically require borrowers to pledge property (or collateral) to secure the loan. Collateral is real or personal property owned by the borrower that is pledged to the lender as security for the repayment of the debt obligation. For further discussion, see Financing the Farm Operation; Contracts, Notes and Guaranties; Mortgages and Contracts for Deed; and Security Interest in Personal Property. In the event of default, the lender may look to the collateral to satisfy the debt. The process to foreclose a mortgage in real property and foreclose a security interest in personal property are very different. In this fact ...
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Bankruptcy Law: secured loan, secured creditor, matter of law
who has practiced exclusively bankruptcy law in California since 1991 and is rated A+ by the Better Business Bureau and is AV-rated by Martindale-Hubbell. He represents debtors, creditors, and Trustees in Chapter 7 , Chapter 11 , and Chapter 13 of the bankruptcy code throughout California. Experience Visit our California bankruptcy webpage at for more information on bankruptcy in general and Mark J. Markus in particular. Many questions are answered on the web page (hint, hint). The Markus webpage also contains more information on business bankruptcy , chapter 7 bankruptcy , chapter 11 bankruptcy , chapter ...
WikiAnswers - What is a motion for relief from stay in a chapter 7
When you file for bankruptcy, you are protected by the "automatic stay" which prohibits creditors from taking action to collect the debt or from taking your property. In some cases, the creditor will ask the court for permission to continue efforts to collect the debt by requesting relief from the stay. This is usually done by a creditor who wants to continue foreclosure proceedings on a house or seek repossession of a vehicle. Landlords will also file for relief from stay to evict a nonpaying tenant. First answer by Chslaw . Last edit by Chslaw . Contributor trust : 870 [ recommend contributor