A comprehensive overview of the legal procedure 'attachment,' enabling creditors to secure payment from debtors through court orders.
An amount owed by a debtor that is unlikely to be paid, such as when a company goes into liquidation. This should be written off to the profit and loss account or a provision for bad debts as soon as foreseen.
A Bankruptcy Trustee is a person appointed by the court to manage the debtor's estate during the bankruptcy process.
An agreement between a debtor and their creditors discharging debts in exchange for a proportion of what is due.
A comprehensive overview of judgment debtors, including legal context, key events, implications, related terms, and practical considerations.
A moratorium provides temporary relief during financial hardships by suspending debt repayments or trading obligations, allowing time to stabilize and restructure finances.
Preference in bankruptcy and insolvency involves a debtor favoring one creditor over others by making payments or transferring assets in a manner that may not be equitable. This entry covers the definition, historical context, legal implications, key events, and examples of preference, as well as related terms and FAQs.
A comprehensive look into public examinations in bankruptcy proceedings, detailing their historical context, key events, importance, applicability, and more.
A comprehensive explanation of reaffirmation agreements, their structure, applications, and legal implications in the context of bankruptcy proceedings.
A detailed document prepared by a debtor in bankruptcy, outlining assets, debts, liabilities, and creditor information.
A statutory demand is a formal request by a creditor to a debtor for repayment of a debt, typically specifying a three-week period for repayment or resolution.
After-Acquired Property refers to property obtained by a debtor after entering into a security agreement or after filing for bankruptcy, with distinct implications in commercial and bankruptcy law.
A detailed look into what constitutes a borrower, their obligations, and associated terms in financial contexts.
Creditor refers to an individual or entity to whom money is owed by a debtor, with legal rights to demand and recover money.
A comprehensive overview of the concept of a debtor, involving obligations, bankruptcy, and the relationship with creditors.
An estoppel certificate is a document by which the mortgagor certifies the balance and terms of a mortgage loan, preventing later disputes over the stated debt amount.
A thorough exploration of hypothecation, including its definition, applications, legal context, and implications for both creditors and debtors.
Understanding the Role and Responsibilities of an Obligor in Financial and Legal Contexts
Comprehensive analysis of voluntary bankruptcy, including legal framework, historical context, comparison with involuntary bankruptcy, and related terms.
Without Recourse: A term used in factoring receivables or endorsing a note to signify that the holder is not to seek repayment from the debtor personally in case of nonpayment, only from the collateral.
Explore the concept of a debtor, how it contrasts with a creditor, and the laws in place to protect debtors. Includes definitions, examples, legal considerations, and related terminology.
Understanding what it means to be judgment proof, including detailed examples in debt management. Learn about the implications and legal considerations if a debtor is unable to repay creditors even after a court order.
An in-depth guide on voluntary bankruptcy, exploring its meaning, the process involved, and the implications for debtors.
