credit bid

credit bid

The amount a lender can bid at a foreclosure sale under one of its mortgages, representing the total of all amounts due under the promissory note.

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He added: "We will use part of our outstanding loans to FMEL to fund a credit bid for the yard.
The government said it would use part of its PS45m of loan to FMEL to fund a credit bid for the yard.
The creation of Currax Holdings USA LLC follows the Highbridge funds' acquisition of substantially all the assets of Pernix, including the rights to all Branded and generic products, per the firm's previously disclosed "stalking-horse bid" for USD 75.6m in the form of cash and credit bid consideration.
The Option gives the company the right to execute an asset purchase agreement with OI, through which, should the company exercise the Option, OI would acquire substantially all of the company's assets in exchange for a credit bid of approximately $175M against the company's obligations under its pre-petition secured credit facility plus other consideration.
LJ Apparel, through its manager, Michael Chung, was awarded the assets with a credit bid of $800,000 and continued operating the company as Lauren James.
The receiver has always had discretion to sell by public auction, but now the receiver may choose to sell through a private sale or credit bid. This can be helpful in instances where the property has been on the market for a significant period of time or there are reasons why the property should be disposed of quickly.
right to credit bid at an auction conducted under a plan of
Blavatnik's Access Industries has said it plans to submit a credit bid for foreign film distribution rights, according to court documents.
ARCUS foreclosed on the property, and it was sold at a trustee's sale on March 11, 2011, where ARCUS credit bid successfully for $1,502,686.30--a fraction of the total indebtedness of $4,029,718.99.
The company said that it tried to find a going concern buyer before filing but no offers emerged, and was planning to run a bankruptcy auction with SportsDirect putting up a stalking horse credit bid based on $29 million of second-lien debt and bridge loan the company had acquired before Eastern Outfitters filed for Chapter 11 protection.
Even the three hedge funds that made that offer backed down to a $125 million credit bid, and for Relativity Television alone.
There can be no deficiency when the lender has credit bid the full amount of the underlying obligation, and a lender who sues for a deficiency after making a full credit bid will be held liable for the borrower's attorney fees if such an action is brought.