Substantive Consolidation definition

Substantive Consolidation means the consolidation of the assets and liabilities of the Subsidiary Debtors’ Estates into the assets and liabilities of Quirky in the manner further set forth in this Plan, including without limitation Section 5.01.
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Substantive Consolidation means the consolidation of the assets and liabilities of SITO Mobile Solutions, Inc., SITO Mobile, Ltd., and SITO Mobile R&D IP, LLC for the purposes of this Plan and these bankruptcy proceedings, but for no other purpose.
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Substantive Consolidation opinion of counsel for Originator with respect to the transactions contemplated by the Receivables Sale Agreement.
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Examples of Substantive Consolidation in a sentence

  • The motion to consolidate must include a proposed order that follows Paragraph 1 of the Guidelines for the Substantive Consolidation or Joint Administration of Related Debtor Entities, CSD 1514.

  • Maxwell Tucker, Grupo Mexicano and the Death of Substantive Consolidation, 8 Am. Bankr.

  • On June 9, 2009, after the Chapter 7 Trustee filed a Response to the Substantive Consolidation Motion, the Court entered a Consent Order (“Consent Order”) [Docket No. 252] which, among other things, approved the Substantive Consolidation Motion, nunc pro tunc to December 11, 2008.

  • If this case has been filed jointly by a husband and wife pursuant to 11 USC §302, entry of an Order Confirming Plan shall also constitute an Order for Substantive Consolidation of the debtors.

  • No Substantive Consolidation The Plan is being proposed as a joint plan of reorganization of the Debtors for administrative purposes only and constitutes a separate chapter 11 plan of reorganization for each Debtor.

  • No Substantive Consolidation Although this Plan is presented as a joint plan of reorganization, this Plan does not provide for the substantive consolidation of the Debtors’ Estates, and on the Effective Date, the Debtors’ Estates shall not be deemed to be substantively consolidated for any reason.

  • Maxwell Tucker, Substantive Consolidation: The Cacophony Continues, 18 AM.

  • If the Substantive Consolidation Order is not the Confirmation Order, then such order shall only be entered if the Bankruptcy Court enters the Confirmation Order.

  • To the extent the Debtor who is party to the executory contract or unexpired lease is to be merged with Neumann Homes as part of the Substantive Consolidation Order, the nondebtor parties to such executory contract or unexpired lease shall, upon assumption as contemplated herein, be deemed to have consented to the assignment of such executory contract or unexpired lease to Neumann Homes that is the surviving entity after entry of the Substantive Consolidation Order.

  • Except as specifically excluded herein, the Classification of claims under this Plan assumes implementation of the Substantive Consolidation contemplated by Section 5.01 of this Plan.


More Definitions of Substantive Consolidation

Substantive Consolidation means any element of a confirmed chapter 11 plan in the
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Substantive Consolidation means the consolidation of the Reorganization Cases and the combining of the Estates, for purposes of the Plan and the distributions to be made thereunder, by aggregating the Estates' assets and liabilities and eliminating cross-corporate guaranties and inter- Estate debt pursuant to Section IV.A.
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Substantive Consolidation means the combining of the Estates, for purposes of the Plan and the distributions
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Substantive Consolidation means the entry of any order by a ------------------------- court of competent jurisdiction by which the assets and liabilities of Holdings and the Borrower are treated on a consolidated basis, whether under Section 105 of the Bankruptcy Code, 11 U.S.C. (S)105, or under any other applicable bankruptcy, insolvency or other law now or hereinafter in effect. Capitalized terms used but otherwise not defined herein shall have the same meaning as in the Credit Agreement.
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Substantive Consolidation is somewhat analogous to the non-bankruptcy remedy of “piercing the corporate veil,” which may permit a plaintiff to disregard the corporate entity and its separateness under appropriate circumstances. See, e.g., Consolidated Rock Products Co. v. Du Bois, 312 U.S. 510 (U.S. 1941). Applied as a bankruptcy doctrine, substantive consolidation addresses the special interest of a Bankruptcy Court in ensuring the equitable treatment of all creditors, rather than a particular plaintiff alleging fraud or other improprieties in the conduct of the affiliated entities. E.g., FDIC v. Colonial Realty, 966 F.2d at 61; Augie/Xxxxxxx, 860 F.2d at 518; In re Xxxxxx, 147 B.R. 678, 683-84 (Bankr. D.N.J. 1992). Consequently, the determination in a substantive consolidation proceeding is less likely to be based solely on specific allegations of fraud or intent to hinder a particular creditor or group of creditors, and will instead center on the Bankruptcy Court’s analysis of whether consolidation would be more equitable to all parties under the circumstances. See, e.g., In re Xxxxxxx, Inc., 115 B.R. 390 (Bankr. N.D. Ga. 1990). In addition, Bankruptcy Courts may be asked to impose consolidation as part of a proposed reorganization plan, where the argument is based not on wrongdoing or reliance but on the assertion that consolidation of the assets and liabilities of two or more affiliated debtors would permit confirmation of a plan in a case that would otherwise require liquidation. E.g., In re Piece Goods Shops Co., L.P., 188 B.R. 778, 786 (Bankr. M.D.N.C. 1995); Xxxxx Energy Centre Ltd. EXHIBIT A-161 Southern California Public Power Authority _________, 2018 Page 5
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Related to Substantive Consolidation

  • Substantive Pay means the pay other than special pay, personal pay or emoluments classed as pay by the Executive Council, to which a University employee is entitled on account of a post to which he has been appointed substantively or by reason of his substantive position in a cadre.

  • Non-Consolidation Opinion means that certain substantive non-consolidation opinion delivered to Lender by Xxxxx Day in connection with the closing of the Loan.

  • Substantive means comments that contribute something new and hopefully important to the discussion. Thus a message that simply says “I agree” is not substantive. A substantive comment contributes a new idea or perspective, a good follow-up question to a point made, offers a response to a question, provides an example or illustration of a key point, points out an inconsistency in an argument, etc.

  • Consolidation means, with respect to any Person, the consolidation of the accounts of such Person and each of its Subsidiaries if and to the extent the accounts of such Person and each of its Subsidiaries would normally be consolidated with those of such Person, all in accordance with GAAP. The term “Consolidated” shall have a similar meaning.

  • Material Change in Content means the occurrence since the Launch Date of a material change in the content, composition or constitution of the Futures Contract or the Commodity.

  • Partnership Change of Control means Tesoro Corporation ceases to Control the General Partner.

  • Substantive document means a document or other information or data in electronic media determined by the comptroller to substan- tially involve or include information or data significant to an applica- tion, the evaluation or consideration of an application, or the agree- ment or implementation of an agreement for limitation of appraised value pursuant to Tax Code Chapter 313. The term includes, but is not limited to, any application requesting a limitation on appraised value and any amendments or supplements, any economic impact evaluation made in connection with an application, any agreement between applicant and the district and any subsequent amend- ments or assignments, any district written finding or report filed with the comptroller as required under 34 Administrative Code Chapter 9, Subchapter F; and any completed annual eligibility re- port (Form 50-772A) submitted to the comptroller. The term shall

  • statutory provision means a provision of an Act or of an instrument made under an Act.

  • Public Acquirer Change of Control means any event constituting a Fundamental Change that would otherwise give Holders the right to cause the Company to repurchase the Securities under Section 3.9 where either (a) the acquirer or (b) if not the acquirer, a direct or indirect majority-owned Subsidiary of the acquirer or (c) if not the acquirer or any direct or indirect majority-owned Subsidiary of the acquirer, a corporation by which the acquirer is majority-owned has a class of common stock (or American Depository Shares representing such common stock) traded on a U.S. national securities exchange or quoted on the NASDAQ Global Select Market or which will be so traded or quoted when issued or exchanged in connection with such Fundamental Change.

  • Significant Asset Sale means the sale, transfer, lease or other disposition by Holdings or any Subsidiary to any person other than the Borrower or a Subsidiary Guarantor of all or substantially all of the assets of, or a majority of the Equity Interests in, a person, or a division or line of business or other business unit of a person.

  • Significant Modification As defined in Section 3.25.

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

  • Reorganization Agreement has the meaning set forth in the recitals.

  • Restructuring Effective Date has the meaning set out in the Restructuring Implementation Deed;

  • Accounting Restatement means an accounting restatement that the Company is required to prepare due to the material noncompliance of the Company with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.

  • Section 502(b)(10) changes means changes that contravene an express permit term or condition. Such changes do not include changes that would violate applicable requirements or contravene federally enforceable permit terms and conditions that are monitoring (including test methods), recordkeeping, reporting, or compliance certification requirements.

  • REMIC Change of Law Any proposed, temporary or final regulation, revenue ruling, revenue procedure or other official announcement or interpretation relating to REMICs and the REMIC Provisions issued after the Closing Date.

  • Combination of vehicles means a truck or truck tractor and

  • Significant Transaction means a transaction which meets any one of the tests below:

  • Merger has the meaning set forth in the Recitals.

  • consolidating supervisor means the competent authority responsible for the exercise of supervision on a consolidated basis of EU parent institutions and institutions controlled by EU parent financial holding companies or EU parent mixed financial holding companies.

  • Financial Restatement means a restatement of previously issued financial statements of the Company due to the material noncompliance of the Company with any financial reporting requirement under the securities laws, including any required restatement to correct an error in previously-issued financial statements that is material to the previously-issued financial statements or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.

  • Significant Transaction or Arrangement means any individual transaction or arrangement that exceeds or is likely to exceed 10% of the total revenues or total expenses or total assets or total liabilities, as the case may be, of the material unlisted subsidiary for the immediately preceding accounting year.

  • Recapitalization means any stock dividend, stock split, combination of shares, reorganization, recapitalization, reclassification or other similar event.

  • Amalgamation Application means the amalgamation application that will be filed with the Registrar under subsection 275(1)(a) of the BCBCA in order to give effect to the Amalgamation, substantially in the form attached hereto as Schedule C;