Priority Class--The class in which a creditor in an insolvent
estate is placed, based on its type of claim against the estate.
On February 5, the OCC completed a targeted review of liquidity and the adequacy of the loan-loss reserve and found the bank's viability to be questionable, but the institution was not considered to be capital insolvent
Professionally managed "brokered funds" were parceled out to insolvent
thrifts nationwide in handy $100,000 chunks.
Nearly 32,000 people are affected by the NCLT order as they worry their savings given to the builder for their homes will go waste if the NCLT declares the company insolvent
and begins proceedings.
In the economic sphere, regarding the application of the CIRE over time it can be seen that the recovery of insolvent
companies failed to come true by itself, in practice, as an effective alternative to company settlement (Portugal, 2010, 2 de dezembro).
In Middlesbrough 238 people were declared insolvent
, while the total in Redcar and Cleveland was 324.
Although creditors are not owed fiduciary duties, Delaware courts grant creditors of an insolvent
corporation standing to bring derivative lawsuits on behalf of the corporation to enforce the directors' and officers' fiduciary duties to the corporation.
As claims increased with the onset of the recession in 2008-2009, federal tax credit reductions began posing a problem for a large number of states in 2011, as by that time they had had insolvent
accounts for two years.
Mr Wood said: "Business rescue is in the interests of both creditors and insolvent
businesses and their employees.
Central bank prohibition on lending to insolvent
A debtor is balance sheet insolvent
when it is unable to pay its debts as they become due or it has financial liabilities exceeding the value of his assets.
Global Banking News-June 3, 2013--Swiss National Bank not eager to help insolvent
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