Insolvent debtor definition

Insolvent debtor means any insolvent person, decedent’s estate, partnership, corporation or business association involved in a liquidation proceeding as defined in this section.
Sample 1Sample 2Sample 3
Insolvent debtor means any person declared to be insolvent in terms of the insolvency Act 43 of 1936 (as amended);
Sample 1Sample 2Sample 3
Insolvent debtor means any insolvent person, decedent's estate, partnership, limited liability company, corporation, or business association involved in a liquidation proceeding as defined in this chapter.
Sample 1Sample 2Sample 3

Examples of Insolvent debtor in a sentence

  • The Insolvent debtor shall present a regular report to the court and the administrator within fifteen days following the end of the period to which it refers.

  • Delinquent loan more than 3 months(C) Loan principal outstanding amount which has become overdue and has passed the repayment period by more than three months, and which does not fall into Insolvent debtor loan(A) nor Delinquent loan (B).

  • Insolvent debtor loan(A) Loan principal outstanding amount of the borrowers who are categorized as insolvent debtors as a result of asset self-assessment.

  • Insolvent debtor, so no cash equivalency (Check was not honors in due course, so it was not cash equivalent when he picked it up).

  • We continue to understand that that the liquidator of the Insolvent debtor is progressing this matter and we therefore await further progress of this matter.

  • However, as a result of developments, we understand realisations may now become available from the Insolvent debtor, which could enable a distribution to the Company.

  • Restructured loan(E) AppendixLoan principal outstanding amount for which the beneficial arrangements for debtors such as reduction of interest rate, deferral of interest payments, and principle repayment grace (hereinafter “change of repayment conditions”) were carried out in advance with the aim for the debtor’s management reconstruction or support, and which does not fall into Insolvent debtor loan (A) nor Delinquent loan (B).

  • Due to its liquidation, the Insolvent debtor had no means to make any payment against the outstanding balance and as such no future recoveries were expected to be realised in relation to this debt.

  • Insolvent debtor (entrepreneur).--- Directors of the insolvent debtor (or other representatives of a natural or legal person).--- Partners/Shareholders (in some specific cases, as happens to be with those shareholders with relevant stakes of capital or shareholders with unlimited liability -in partnerships-).

  • Insolvent debtor is in a dire need for regulation of his insolvency in order to protect him and his creditors alike which in turn led with these legislations to separate the civil insolvency system from the commercial bankruptcy system and takes what is compatible with civil transactions.


More Definitions of Insolvent debtor

Insolvent debtor means any economic operator that was not able to settle its debt (debts), or is expected to fail its liabilities on the date when they are due;
Sample 1Sample 2
Insolvent debtor means any Debtor which is the subject of Insolvency Proceedings. Intermediary Transaction Date means each date immediately following a Principal Transaction Date indicated in column “Transaction Date” of the current timetable of Schedule 5 and as this timetable shall be up-dated bv the Originators pursuant to Clause 16 (xv).
Sample 1

Related to Insolvent debtor

  • Insolvent pertaining to a condition of Insolvency.

  • Bankruptcy As to any Person, the making of an assignment for the benefit of creditors, the filing of a voluntary petition in bankruptcy, adjudication as a bankrupt or insolvent, the entry of an order for relief in a bankruptcy or insolvency proceeding, the seeking of reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief, or seeking, consenting to or acquiescing in the appointment of a trustee, receiver or liquidator, dissolution, or termination, as the case may be, of such Person pursuant to the provisions of either the Bankruptcy Code or any other similar state laws.

  • Account Debtor means any Person obligated on an Account.

  • 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.

  • Debtor means a person who is liable on a claim.

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

  • Bankruptcy Laws has the meaning specified in Section 10.9.

  • Bankrupt means with respect to any entity, such entity that (a) files a petition or otherwise commences, authorizes or acquiesces in the commencement of a proceeding or cause of action under any bankruptcy, insolvency, reorganization or similar Law, or has any such petition filed or commenced against it and such case filed against it is not dismissed in ninety (90) days, (b) makes an assignment or any general arrangement for the benefit of creditors, (c) otherwise becomes bankrupt or insolvent (however evidenced), (d) has a liquidator, administrator, receiver, trustee, conservator or similar official appointed with respect to it or any substantial portion of its property or assets, or (e) is generally unable to pay its debts as they fall due.