Asset Case

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • clean-out
  • seize merchandise
  • repossess
  • estate auction
  • liquidation
  • takeover

Definition of Asset Case

  1. A bankruptcy proceeding in which there are non-exempt assets that might be available to pay the claims of creditors.

Related Terms and Acronyms

  • Bankruptcy (BK) Acronym, Important,
    • A court action under the Federal Bankruptcy Code by which a debtor's debts may be discharged, usually by transferring assets to a trustee, or rescheduled.
  • Distress Definition,
    • The right of one party to sell real or personal property belonging to another party to pay unpaid or overdue debt.
  • Asset Definition,
    • Anything of monetary value that is owned by a person. Assets include real property, personal property, and enforceable claims against others including bank accounts, stocks, mutual funds, and so on.
  • Claim Definition,
    • A creditor's assertion of a right to payment from a debtor or the debtor's property.
  • Collection Definition,
    • The efforts used to bring an overdue mortgage, or other debt current, and the filing of necessary notices to proceed with foreclosure when necessary.
  • Business Bankruptcy Definition,
    • A bankruptcy case in which the debtor is a business or an individual involved in business and the debts are for business purposes.
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