Hudson Weir

FEBRUARY 28, 2023

Once a firm enters administration, it must pay every creditor group entirely, save for ‘prescribed part’ secured creditors, before funds are distributed to the subsequent creditor. Secured creditors include leasing companies and banks.

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Sawin & Shea

NOVEMBER 15, 2023

It distinguishes between what are called ‘secured’ and ‘unsecured’ debts, which are terms you need to know before filing for bankruptcy. And possibly the most common question people ask is credit card debt is secured or unsecured. Secured vs Unsecured Debt: What’s the Difference? What is the difference?

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Collections Law

DECEMBER 14, 2021

Many people have heard of asset seizure in various contexts, perhaps when someone fails to pay taxes or in a criminal case. Search for secured creditors – Before you seize your debtor’s property, you want to make sure another creditor does not have a lien on that property, or you could become liable for that debt.

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Hudson Weir

FEBRUARY 12, 2021

The creditors will then be repaid using funds from the estate in the following order of priority: Secured creditors (e.g. mortgage loans) Funeral expenses Testamentary expenses (expenses incurred by the personal representative in administering the estate, e.g. legal fees) Preferential creditors Unsecured creditors (e.g.

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Hudson Weir

JULY 26, 2019

Administration is a robust insolvency procedure for securing control when a company is insolvent and facing serious threats from creditors. The directors, or a ‘secured’ creditor (like the bank), can make an application to the court to appoint a licensed insolvency practitioner as an administrator. .

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Debt Free Colorado

MARCH 3, 2023

Through a legal process called bankruptcy, some people who are unable to pay their debts can start over financially, either temporarily or permanently. This type of bankruptcy does not stop secured creditors from seizing your property, so if you have money to pay the debt, this isn’t the best option to take.

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BN Lawyers

MARCH 23, 2020

This helps employees by allowing them to seek unemployment and other public benefits while compensating the people who continue to work. Drawing on secured credit facilities is less of a winning proposition. Secured creditors can foreclose on their collateral if they are not paid and have special rights in a reorganization proceeding.

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