Examples of Danish Bankruptcy Act in a sentence
Such claims will rank after pre-preferential claims (sections 93 and 94 of the Danish Bankruptcy Act) and preferential claims (sections 95 and 96 of the Danish Bankruptcy Act), but before unsecured claims (section 97 of the Danish Bankruptcy Act).
The Issuer ceases to exist as a result of a bankruptcy in accordance with the rules of the Danish Bankruptcy Act or other relevant legislation on bankruptcy.
In addition, such payments will be deferred if a bankruptcy order has been issued against the Issuer or the Issuer has commenced reconstruction proceedings pursuant to the Danish Bankruptcy Act.
According to Section 17(2) of the Danish Bankruptcy Act, a debtor is insolvent, if it cannot meet its obligations as and when they fall due, unless the inability to meet such obligations may be considered to be temporary.
To the extent that the claims pertaining to Section 15 Bonds are not covered by the assets of the relevant capital centre, they may be raised against the Issuer's estate in bankruptcy as unsecured claims, cf section 97 of the Danish Bankruptcy Act.