Concurrent Creditors definition

Concurrent Creditors means creditors having concurrent claims, and as envisaged in terms of the Insolvency Act;

Concurrent Creditors means all Creditors having Claims which would qualify as concurrent claims, and not secured or preferent claims, as envisaged in the Insolvency Act and the Act;

Concurrent Creditors means all persons with unsecured claims, other than Disputed Creditors, Contingent Creditors, employees, PCF Employees and unsecured PCF Creditors;

Examples of Concurrent Creditors in a sentence

• With regard to the potential liquidation dividend calculation, which is attached as Annexure C, if the Company had been placed into liquidation as at the Commencement Date, Concurrent Creditors would have received a dividend of 0c (zero) cents in the Rand.

• The payment of a Distribution to the Group Concurrent Creditors is therefore subject to Surplus Sales Proceeds being available.

• To the extent that all or part of the claim of any Secured Creditor is not satisfied from the net (after costs) proceeds from the disposal of the relevant security asset(s), the balance of such claim shall be treated as being part of Concurrent Creditors.

• It further postulates the Claims of the PCF Creditors and Secured Creditors being paid while the Unsecured Creditors or Concurrent Creditors will be compromised.

• In addition, to the extent that the BRPs implement a Balance-Sheet Restructure (in accordance with the provisions of the Business Rescue Plan), Concurrent Creditors may be offered equity in the Company in proportion to their remaining debt after receipt of the Distribution.

More Definitions of Concurrent Creditors

Concurrent Creditors means creditors in respect of their concurrent claims against the Growth Plan Companies as at the effective date, including secured creditors and preferent creditors in respect of the concurrent portion of their claims against the Growth Plan Companies as at the effective date, as the case may be;

Concurrent Creditors means all Creditors with unsecured claims, other than Disputed Creditors and Contingent Creditors;

Concurrent Creditors means creditors who have neither secured nor

Concurrent Creditors means all unsecured Pre-commencementCreditors;

Concurrent Creditors means creditors who would have concurrent claims in a liquidation of the Company as envisaged in terms of the Insolvency Act, and also includes SARS;

Concurrent Creditors means all unsecured Creditors;

Concurrent Creditors means creditors having concurrent claims against the Company as envisaged in the Insolvency Act;