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Definition of Creditors
Purchases of goods or services from suppliers on credit to whom the debt is not yet paid. Or a
The requirement that a claim holder voting against a plan of reorganization
Rule in bankruptcy proceedings whereby senior creditors are required to be paid in full
Amounts a company owes to creditors.
The sum of cash, accounts receivable, and short-term marketable
A report issued to a company’s shareholders, creditors, and regulatory
creditors exchange the debt of one defaulting borrower for the debt of another
This is the person who benefits from the terms of a trust, a will, an RRSP, a RRIF, a LIF, an annuity or a life insurance policy. In relation to RRSP's, RRIF's, LIF's, Annuities and of course life insurance, if the beneficiary is a spouse, parent, offspring or grand-child, they are considered to be a preferred beneficiary. If the insured has named a preferred beneficiary, the death benefit is invariably protected from creditors. There have been some court challenges of this right of protection but so far they have been unsuccessful. See "Creditor Protection" below. A beneficiary under the age of 18 must be represented by an individual guardian over the age of 18 or a public official who represents minors generally. A policy owner may, in the designation of a beneficiary, appoint someone to act as trustee for a minor. Death benefits are not subject to income taxes. If you make your beneficiary your estate, the death benefit will be included in your assets for probate. Probate filing fees are currently $14 per thousand of estate value in British Columbia and $15 per thousand of estate value in Ontario.
A business that has terminated with a loss to creditors.
Cash receipts and payments involving
The ability of the bankruptcy court to confirm a plan of reorganization over the objections of
The creditor proof status of such things as life insurance, non-registered life insurance investments, life insurance RRSPs and life insurance RRIFs make these attractive products for high net worth individuals, professionals and business owners who may have creditor concerns. Under most circumstances the creditor proof rules of the different provincial insurance acts take priority over the federal bankruptcy rules.
Coverage that provides a lump-sum payment should you become seriously ill with a specified illness. The payment is made to your creditors to pay off your debt owing.
Amounts due and payable by the business within a period of 12 months, e.g. bank overdraft, creditors and accruals.
Current assets divided by current liabilities. This ratio indicates the extent to which the claims of short-term creditors are covered by assets expected to be converted to cash in the near future.
Indicator of financial leverage. Compares assets provided by creditors to assets provided
Interest payment plus repayments of principal to creditors, that is, retirement of debt.
a discipline in which historical, monetary
Job Loss Insurance (Credit Insurance)
Coverage that can pay down your debt should you become involuntarily unemployed. The payment is made to your creditors to reduce your debt owing.
Measures of the relative contribution of stockholders and creditors, and of the firm's ability
What a company owes to its creditors. In other words, debts.
When a firm's business is terminated, assets are sold, proceeds pay creditors and any leftovers
Net proceeds that would be realized by selling the firm’s assets and paying off its creditors.
Person appointed by unsecured creditors in the United Kingdom to oversee the sale of an
A characterization of the magnitude of a financial statement item's effect on a
Premium (Credit Insurance)
Annual or monthly amounts payable, by a client, for a selected insurance coverage to insure debt obligations to their creditors are protected.
A bankruptcy in which a debtor and its creditors pre-negotiate a plan or
RATIO OF DEBT TO STOCKHOLDERS’ EQUITY
A ratio that shows which group—creditors or stockholders—has the biggest stake in or the most control of a company:
A bankruptcy practitioner appointed by secured creditors in the United Kingdom to oversee the
All parties that have an interest, financial or otherwise, in a firm - stockholders, creditors,
Strike Insurance (Credit Insurance)
Coverage that can pay down your debt should you become unemployed due to a legal strike in your place of work. The payment is made to your creditors to reduce your debt owing.
Subordinated debenture bond
An unsecured bond that ranks after secured debt, after debenture bonds, and
Terminal Illness Insurance (Credit Insurance)
Coverage that provides a lump-sum payment should you become terminally ill. The payment is made to your creditors to pay off your debt owing.
Property free and clear of all liens (creditors' secured claims).
Current assets less current liabilities. Money that revolves in the business as part of the process of buying, making and selling goods and services, particularly in relation to debtors, creditors, inventory and bank.
Informal arrangement between a borrower and creditors.
Agreement between a company and its creditors establishing the steps the company must take to avoid bankruptcy.
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