Insolvency estate definition

Insolvency estate means assets and rights of the debtor that are controlled or supervised by the insolvency representative and subject to the insolvency proceedings;
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Insolvency estate means the assets of a debtor subject to insolvency proceedings;
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Examples of Insolvency estate in a sentence

  • Collections made prior to notification of the assignment but after an Insolvency takes effect in respect of the Transferor, will be part of the Transferor's Insolvency estate.

  • To the extent receivables are not pledged to the Security Trustee, amounts collected on such receivables will fall in the Insolvency estate of the CBC and may not be available for distribution to the Security Trustee or the Covered Bondholders or Couponholders, which may result in losses under the Covered Bonds and Coupons.

  • To the extent the receivables pledged by the CBC to the Security Trustee are future receivables, the right of pledge on such future receivable cannot be invoked against the Insolvency estate of the CBC if such future receivable comes into existence after the CBC has become subject to an Insolvency.

  • Therefore, the Security Trustee as pledgee may collect insufficient proceeds to be able to satisfy the CBC’s secured obligations, which may result in losses under the Covered Bonds and the Coupons.To the extent the receivables pledged by the CBC to the Security Trustee are future receivables, the right of pledge on such future receivable cannot be invoked against the Insolvency estate of the CBC if such future receivable comes into existence after the CBC has become subject to an Insolvency.

  • That portion of the legislative guide which talks about duties and functions of insolvency representative talks about exercising rights for the benefit of the Insolvency estate in respect of court, arbitration or administration proceedings underway.

  • Any obligation resulting from a contract for which the relevant Insolvency Representative exercised the Step-in Right becomes a direct and own obligation of the relevant Insolvency estate (Massaverbindlichkeit / dettes de la masse) and must be satisfied from such Insolvency estate ahead of other creditors.

  • Insofar as long term agreements (Dauerschuldverhältnisse / contrats de durée) are concerned, though, the consequence of obligations becoming obligations of the Insolvency estate only applies to obligations which come into existence after the occurrence of the Insolvency Event and for as long as the receiver in bankruptcy exercises the Step-in Right (Art.

  • Insolvency estate and legal position of the debtorThe insolvency estate is basically composed of all the debtor's assets subject to enforcement (§ 2 [2] IO).

  • For the insolvency creditors, the following result is obtained as of the re- porting date and extrapolated to the time of a hypothetical filing for insol- vency: Insolvency estate minusInsolvency costs ./.€7,114,089.86 €888,500.00Liabilities of the insolvency estate./.€150,000.00results in an amount for the distribution of: €6,075,589.86 For insolvency creditors with a volume of approx.

  • Insolvency estate €7,114,089.86plus €1,366,680.00 minus Costs of proceedings./.€138,000.00results in an amount for the distribution of: €8,342,769.86 For insolvency creditors with a volume of approx.

Related to Insolvency estate

  • Insolvency Proceedings means bankruptcy, liquidation or other collective judicial or administrative proceedings, including interim proceedings, in which the assets and affairs of the debtor are subject to control or supervision by a court for the purposes of reorganisation or liquidation;

  • Insolvency with respect to any Multiemployer Plan, the condition that such Plan is insolvent within the meaning of Section 4245 of ERISA.

  • Insolvency Event means, with respect to a specified Person, (a) the filing of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or ordering the winding-up or liquidation of such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official for such Person or for any substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing.

  • Insolvency Act means the Insolvency Xxx 0000;

  • Insolvency Proceeds shall have the meaning set forth in Section 9.01(b).

  • Insolvency Proceeding means any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.) or any other insolvency, liquidation, reorganization or other similar proceeding concerning the Mortgage Loan Borrower, any action for the dissolution of the Mortgage Loan Borrower, any proceeding (judicial or otherwise) concerning the application of the assets of the Mortgage Loan Borrower for the benefit of its creditors, the appointment of or any proceeding seeking the appointment of a trustee, receiver or other similar custodian for all or any substantial part of the assets of the Mortgage Loan Borrower or any other action concerning the adjustment of the debts of the Mortgage Loan Borrower, the cessation of business by the Mortgage Loan Borrower, except following a sale, transfer or other disposition of all or substantially all of the assets of the Mortgage Loan Borrower in a transaction permitted under the Mortgage Loan Documents; provided, however, that following any such permitted transaction affecting the title to the Mortgaged Property, the Mortgage Loan Borrower for purposes of this Agreement shall be defined to mean the successor owner of the Mortgaged Property from time to time as may be permitted pursuant to the Mortgage Loan Documents; provided, further, however, that for the purposes of this definition, in the event that more than one entity comprises the Mortgage Loan Borrower, the term “Mortgage Loan Borrower” shall refer to any such entity.

  • Bankruptcy means, with respect to any Person, if such Person (i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of all or any substantial part of its properties, or (vii) if 120 days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Person’s consent or acquiescence of a trustee, receiver or liquidator of such Person or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of “Bankruptcy” is intended to replace and shall supersede and replace the definition of “Bankruptcy” set forth in Sections 18-101(1) and 18-304 of the Act.

  • Insolvent pertaining to a condition of Insolvency.

  • Insolvent insurer means a member insurer which, after the effective date of this chapter, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency.

  • Bankruptcy Laws has the meaning specified in Section 10.9.

  • Bankruptcy Proceeding means any case, action or proceeding before any court or other Governmental Authority relating to any Bankruptcy Event.

  • Bankruptcy Code means Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in effect, or any successor statute.

  • insolvency practitioner means any receiver, administrator or liquidator appointed in respect of the Tenant;

  • Insolvency Filing means that a Share Issuer institutes, or has instituted against it by a court, regulator, supervisor, or any similar official with primary insolvency, rehabilitative, or regulatory jurisdiction over it in the jurisdiction of its incorporation or organization or the jurisdiction of its head or home office, or it consents to a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors' rights, or a petition is presented for its winding-up or liquidation by it or such regulator, supervisor, or similar official or it consents to such a petition, provided that proceedings instituted or petitions presented by creditors and not consented to by the Share Issuer shall not be deemed an Insolvency Filing.

  • Lender Insolvency Event means that (i) a Lender or its Parent Company is insolvent, or is generally unable to pay its debts as they become due, or admits in writing its inability to pay its debts as they become due, or makes a general assignment for the benefit of its creditors, or (ii) such Lender or its Parent Company is the subject of a bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or a receiver, trustee, conservator, intervenor or sequestrator or the like has been appointed for such Lender or its Parent Company, or such Lender or its Parent Company has taken any action in furtherance of or indicating its consent to or acquiescence in any such proceeding or appointment.

  • Receivership means a proceeding in which a receiver is appointed.

  • Bankruptcy Law means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.