Solvent scheme of arrangement definition

Solvent scheme of arrangement means a foreign or alien statutory or regulatory compromise procedure subject to requisite majority creditor approval and judicial sanction in the assuming insurer’s home jurisdiction either to finally commute liabilities of duly noticed classed members or creditors of a solvent debtor, or to reorganize or restructure the debts and obligations of a solvent debtor on a final basis, and which may be subject to judicial recognition and enforcement of the arrangement by a governing authority outside the ceding insurer’s home jurisdiction.
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Solvent scheme of arrangement means a foreign or alien statutory or regulatory compromise procedure subject to requisite majority creditor
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Solvent scheme of arrangement means a foreign or alien statutory or regulatory compromise
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More Definitions of Solvent scheme of arrangement

Solvent scheme of arrangement means a statutory or regulatory compromise procedure subject to requisite majority creditor approval and extraterritorial judicial sanction to finally commute liabilities of duly noticed classed members or creditors of a solvent debtor; or to reorganize or restructure the debts and obligations of a solvent debtor on a final basis; all of which may be subject to foreign judicial recognition and enforcement of the arrangement.
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Solvent scheme of arrangement means a foreign or alien statutory or regulatory compromise procedure subject to:
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Related to Solvent scheme of arrangement

  • Plan of Arrangement means the plan of arrangement, substantially in the form set out in Schedule A, subject to any amendments or variations to such plan made in accordance with this Agreement and the Plan of Arrangement or made at the direction of the Court in the Final Order with the prior written consent of the Company and the Purchaser, each acting reasonably.

  • OBCA means the Business Corporations Act (Ontario).

  • BCBCA means the Business Corporations Act (British Columbia);

  • Reorganization Plan means a plan of reorganization in any of the Cases.

  • ABCA means the Business Corporations Act (Alberta), R.S.A. 2000, c. B-9, as amended, including the regulations promulgated thereunder;

  • Demerger means a demerger pursuant to Chapter 17 of the Finnish Companies Act (624/2006 as amended from time to time).

  • Steps Plan means a plan evidenced by Eligible Information contemplating that there will be a series of successions to some or all of the Relevant Obligations of the Reference Entity, by one or more entities.

  • Superannuation Scheme in this subclause, shall mean a scheme other than one implemented solely for purposes of compliance with Clause 49. - Superannuation of this award, or an Order of the Western Australian Industrial Relations Commission.

  • Scheme Year means a period of one year beginning with 1st April and ending with 31st March;

  • Second Merger has the meaning set forth in the Recitals.

  • Effective Time of the Merger means the time as of which the Merger becomes effective, which shall occur on the Funding and Consummation Date.

  • Life-of-the-unit, firm power contractual arrangement means a unit participation power sales agreement under which a utility or industrial customer reserves, or is entitled to receive, a specified amount or percentage of nameplate capacity and associated energy from any specified unit and pays its proportional amount of such unit's total costs, pursuant to a contract:

  • Corporate Reorganization means any change in the legal existence of any Obligor (other than a Capital Reorganization) including by way of amalgamation, merger, winding up, continuance or plan of arrangement.

  • CBCA means the Canada Business Corporations Act.