Seventy-five per cent of unsecured creditor
votes are required in order to approve a CVA, coupled with a 50% + vote from unconnected companies in order to make sure that third party creditors are properly represented.
The total unsecured creditor
position is around PS70m.
New Delhi: Reliance Communications sought another 60 days for repayment of Rs 550 crore to unsecured creditor
Private equity firm Abraaj said on Monday it hopes to reach a deal with its secured creditors, although sources said that a Kuwaiti unsecured creditor
was holding out
trustee has the authority to appoint an official unsecured creditor
's committee in a Chapter 11 case.
"I've no plans to re-enter business at the present time." Underlining the poor prospects of the politician getting any money from the liquidation as an unsecured creditor
, liquidator Paul Mee told the Companies Office [euro]9,557 has been realised from the sale of assets to the end of March this year.
The largest unsecured creditor
is the Central Bank of Bahrain, which was owed $255.1 million.
Contour's largest unsecured creditor
is CM Medical LLC of Little Rock, which is owed $3.8 million.
Mr Sargent said: "A range of measures was introduced in 2010 to encourage greater unsecured creditor
participation in the insolvency process, such as electronic communication and remote attendance at creditors' meetings, together with greater transparency and control for creditors in the process and over IP's fees.
is the company's largest unsecured creditor
and is owed $3.78 million.
Alex Rodriguez, who, being Alex Rodriguez and the largest unsecured creditor
(see the list of the 30 largest unsecured creditors
(http://bizofbaseball.com/index.php?option=com_content&view=article&id=4409:listing-of-the-top-30-unsecured-creditors-of-the-texas-rangers&catid=81:texas-rangers-bankruptcy&Itemid=188)), filed his own objection to the plan seeking verbiage within the plan that guarantees he receives his $24,892,061.62 in deferred compensation.
(75) Every unsecured creditor
would be bound by this decision of the committee.