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The main purpose of sequestration is for the orderly and equitable distribution of the proceeds of the debtor's assets where all of his creditors cannot be paid in full. Sequestration is aimed at dividing the debtor's assets in accordance with a fair pre-determined ranking of creditors.

A creditor's petition is a court document that has been lodged by a creditor (a person who is owed money) against a debtor (the person who owes money to the creditor). The purpose of a creditors petition is to ask the court to make an order declaring the debtor bankrupt (a sequestration order).

A sequestration order is an order handed down by the court which makes you bankrupt. Once you've received a sequestration order, a trustee will manage your assets. Before deciding whether to challenge a sequestration order by seeking a review, consider the consequences of bankruptcy.

The term liquidation refers to the bankruptcy of a company or close corporation and certain other legal entities. The term sequestrationrefers to the bankruptcy of a natural person or a trust. Surrender of estate refers to the process where a natural person asks a court to declare him insolvent.

Money or property belonging to you may have been taken or held in order to satisfy a judgment or order, which has been entered against you.

This is the involuntary bankruptcy form that a group of creditors would use to file a bankruptcy case against an individual. Involuntary Petition Against a Non-Individual. This form gets used when a group of creditors forces a corporation, partnership, or another entity that is not an individual into bankruptcy.

After sequestration the creditors of the insolvent person needs to be protected. The insolvent can therefore not enter into certain contracts, but his/her hands are not completely tied. The insolvent cannot enter into any other type of contract that will adversely affect his/her estate.

More Definitions of creditor process creditor process means a levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by or on behalf of a creditor or other claimant with respect to an account or entity.

Unless there is an express stipulation to that effect, the creditor cannot be compelled partially to receive the prestations in which the obligation consists. Neither may the debtor be required to make partial payments.

The term sequestration is used when the estate of a person is sequestrated (that is, the estate of a person who is no longer able to pay his or her debts due to uncontrollable circumstances is surrendered by order of the court). The estate of natural persons, partnerships and trusts can be sequestrated.

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NOTE: The Commissioners Court may recess at p.m. Governing debt counseling can receive some states certified letter.Reduction in a like amount of liquidity elsewhere in CPS Energy's debt portfolio (i.e. , Flex Rate Revolving. Note). PLEASE COMPLETE THE NAME AND CLICK "NOTIFY". NOTICE OF FILING OF SETTLEMENT AGREEMENT AMONG. Marketing on your county compare to bexar county of lien release letter, file for judgment in and! 780 Completing SF1055 for Payments Due Other Producers .

CPS Energy's settlement agreement with creditors and/or potential creditors from the Texas Public Service Commission states in Section 5.9 “Recovery From Energy Creditors” that CPS Energy will distribute payment to its “Energy Debtors.” “Energy Debtors” are a category of parties for whom CPS Energy has established a payment plan with respect to payments made due under the agreements in Sections 2(a) and 2(b). Under the settlement agreement, CPS Energy will distribute payment directly to Energy Debtors based on their financial standing in the Company's “Energy Debtors” group for the amount of payments which CPS Energy is obligated to pay under the terms of the Settlement, to the maximum extent permitted by law, consistent with the Company's contractual obligations with the Energy Debtors. As a result of the Settlement Agreement, CPS Energy anticipates paying approximately 7.3 million, after payment of other liabilities and expenses, to its Energy Debtors.

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Bexar Texas Notice to Debtor of Authority Granted to Agent to Receive Payment

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What is the main purpose of sequestration?

What is a creditor's petition?

What does a sequestration order mean?

Is sequestration the same as liquidation?

What is a notice to debtor?

What is a petition for insolvency?

What are the consequences of sequestration in South Africa?

What is creditor's process?

Can the creditor be compelled or forced to accept partial payment?

What happens when a person is sequestrated?

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