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n a person to whom a debt is owed.
References in periodicals archive ?
Todays meeting of the Temporary Creditors Council was attended by Marica Vidakovi?
Creditors typically rely upon several defenses to reduce or eliminate their preference liability.
As a precursor, trade creditors must understand the interplay between their supply agreement and the immediate consequences arising from the debtor's bankruptcy filing.
Others rule that the creditor's contract rights go beyond simply suing and collecting, fully allowing the creditor to condition its own forbearance from suing on the debtor complying with the creditor's wishes--even if the conditions are costly to the firm's other creditors.
In compliance with the Law on Restructuring of Enterprises of the Republic of Lithuania (hereinafter--"the Law")--the company's creditors are considered to be all persons entitled to demand and to apply obligations and liabilities on the company.
Delta Air Lines should "consider methodically, proactively and fairly strategic alternatives to its standalone Chapter 11 plan," a group of "unofficial" unsecured creditors said last week in a statement.
Often creditors are willing to negotiate payments during the lawsuit phase, but this is typically the last attempt to resolve the debt.
The complex web of details that ultimately determines the bankruptcy outcome for creditors and debtors ensures the execution of the pre-specified conditions contained in individual creditors' contracts and resolves any disputes that may arise in the process--nothing more than any civil court would accomplish.
Alternatives such as a nonstatutory contract to which both debtor and creditors consent give creditors a prorated share of their claims and discharge the debtor's balance.
A third-party trust (TPT) enables a client to maintain and protect businesses and investments, while reducing potential estate tax liability and exposure to creditors.
However, the FACT Act also requires the agencies to prescribe regulations that permit creditors to obtain and use medical information for credit eligibility purposes when necessary and appropriate to protect legitimate operational, transactional, risk, consumer, and other needs.
Bankruptcy is intended to prevent a feeding frenzy by creditors, maximize value of bankrupt debtors' limited assets and ensure that creditors' claims are paid in an orderly and fair manner.