- assignee in insolvency
- The person to whom an insolvent debtor makes an assignment for the benefit of his creditors. See trustee in bankruptcy.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
insolvency — The insufficiency of the entire property and assets of an individual to pay his debts. 29 Am J Rev ed Insolv § 2. In a practical commercial sense, the inability of a person to pay his debts as they become due in the ordinary course of his… … Ballentine's law dictionary
assignee in trust for the benefit of creditors — An assignee in insolvency. Anno: 113 ALR 745 … Ballentine's law dictionary
bankruptcy — /bangk rupt see, reuhp see/, n., pl. bankruptcies. 1. the state of being or becoming bankrupt. 2. utter ruin, failure, depletion, or the like. [1690 1700; BANKRUPT + CY] * * * Status of a debtor who has been declared by judicial process to be… … Universalium
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General assignment — A general assignment is a concept in bankruptcy law that has different meanings in different jurisdictions. * In the United states, a general assignment is simply a contract whereby the insolvent entity ( Assignor ) transfers legal and equitable… … Wikipedia
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following trust fund or property — Pursuing property wrongfully converted by a fiduciary for the purpose of compelling restitution to the beneficiary, such pursuit encompassing a following through all changes in state and form, so long as such property, its product, or its… … Ballentine's law dictionary