According to our insolvency, bankruptcy, and liquidation laws, the secured creditors — those who loaned money to LIAT using the company’s assets, mainly the aircraft as collateral — have to be paid first when the assets are sold (“liquidated”). Source: Internet
According to the Prime Minister, LIAT does not have sufficient assets to satisfy the requirements or claims of most of its creditors, including the airline’s employees. Source: Internet
A consumer proposal is a negotiated settlement between a debtor and their creditors. Source: Internet
After months of often difficult negotiations, Argentina over the week end made a new offer to creditors that stands a solid chance of anchoring one of the largest sovereign debt restructurings in the history of emerging markets. Source: Internet
After the expedient of paper money had exhausted itself, certificates of debt were given to the individual creditors, with assurance of payment so soon as the United States should be able. Source: Internet
AMC's creditors may be more likely than usual to grant such a waiver -- after all, the COVID-19 impact has hit virtually everyone. Source: Internet