Creditor Trust definition

Creditor Trust means the trust established pursuant to Section 5.8 hereof, to which the State Law Avoidance Claims shall be contributed, to hold and to prosecute the State Law Avoidance Claims and to distribute the net proceeds of any recoveries on the State Law Avoidance Claims in accordance with Section 5.8 hereof.

Creditor Trust means the creditor recovery trust established on the Effective Date in accordance with Article IV.D.2 of the Plan and the Creditor Trust Agreement.

Creditor Trust means a common law trust to be established under the Plan, the Creditor Trust Agreement, and the Confirmation Order for the sole and exclusive benefit of the Beneficiaries. The Creditor Trust will liquidate and distribute the Creditor Trust Assets according to the Creditor Trust Agreement.

Examples of Creditor Trust in a sentence

• Pursuant to the Plan and related Unsecured Creditor Trust Agreement, the Trustee holds causes of action against the Defendant.

• Proceeds of the Creditor Trust shall be split 50/50 between the holders of Class A Interests and the holders of Class B Interests.

• No Person may rely on the absence of a specific reference in this Plan, the Plan Supplement, or the Disclosure Statement to any Cause of Action against them as any indication that the Debtors, the Reorganized Debtors, or the Creditor Trust Administrator, as applicable, will not pursue any and all available Causes of Action against them.

• The Creditor Trust will have authority to retain any counsel, financial advisors, claims agent, auditors, or other such professionals as it deems appropriate at all times.

• To the extent the interests in the Creditor Trust Interests are deemed to be “securities,” the issuance of such interests under the Plan are exempt, pursuant to section 1145 of the Bankruptcy Code, from registration under the Securities Act of 1933, as amended, and any applicable state and local laws requiring registration of securities.

More Definitions of Creditor Trust

Creditor Trust means a common law grantor trust to be established

Creditor Trust means the trust to be created on the Effective Date in accordance with Section 9 of the Plan and the Creditor Trust Agreement for the benefit of holders of Allowed General Unsecured Claims.

Creditor Trust means (i) with respect to Non-Federal Domestic Governmental Channeled Claims, NOAT, (ii) with respect to Tribe Channeled Claims, the Tribe Trust, (iii) with respect to Hospital Channeled Claims, the Hospital Trust, (iv) with respect to Third-Party Payor Channeled Claims, the TPP Trust, (v) with respect to NAS Monitoring Channeled Claims, the NAS Monitoring Trust, (vi) with respect to PI Channeled Claims, the PI Trust and (vii) with respect to Future PI Channeled Claims, the PI Futures Trust.

Creditor Trust the statutory trust being created under the Plan of Reorganization pursuant to the Delaware Statutory Trust Act (12 Del. C. section 3801 et seq.) in which certain holders of Claims (as defined in the Plan of Reorganization) against the Debtors will hold a beneficial interest as of the Plan Effective Date.

Creditor Trust means a trust formed in accordance with the Creditor Trust Agreement, which shall receive all distributions made by a Disbursing Agent in respect of Class C-4, and to which the Debtors shall assign their rights to (a) object to all Class C-4 Claims, (b) make all distributions to holders of Allowed Class C-4 Claims and (c)(i) pursue all Unresolved Avoidance Actions (against parties not released under the Plan) and the Retained Actions and (ii) receive all Unresolved Avoidance Action recoveries (against parties not released under the Plan) and all recoveries on account of the Retained Actions.

Creditor Trust means the trust to be established on the Effective Dateby the Debtors or the Reorganized Debtors, as applicable, pursuant to this Plan for the benefit of holders of Allowed General Unsecured Claims and Allowed Second Lien Deficiency Claims, as described in more detail in Sections 4.3, 4.5, 5.17, and 6.11 of this Plan.

Creditor Trust means the trust established by the Creditor Trust Agreement for the purposes of facilitating the distribution of GUC Funds to Holders of Allowed Class 4 Claims and related matters.