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- When "Liquidating Trust" is mentioned, most people associate this with bankruptcy.
- Liquidating Trustee means the Member or such other Person appointed the Member to act in the capacity provided in Article X hereof.
- Defined Term is a resource of legal, industry-specific, and uncommon defined terms to help lawyers draft more clearly, concisely, and Liquidating Trustee. Define Liquidating Trustee. means the Member or such other Person appointed the Member to act in the capacity provided in Article X hereof.
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So, whats the deal?A liquidating trust may be an effective method for a fund manager to wind down a fund without having a significant role in the liquidation. bankruptcy context, distribution to creditors from a liquidation trust would be .. avoidance claims do not fall within the definition of property of the bankruptcy..
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The newly formed trust is governed by a trust agreement executed between the former fund and the trustees before liquidation of the fund. Sample 1 Sample 2 Sample 3 Based on documents. In addition, it may be prudent for the fund manager to set aside certain cash reserves before making final distributions to the fund owners. The trustee must follow the procedures under the BIA, call creditors meetings and send the parties required notices of proceedings and documents.
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If not, the liquidation will proceed as a creditors' voluntary winding-up, and a meeting of creditors will be called, to which the directors must report on the company's affairs. This page was last edited on 16 November , at Tax treatment of a liquidating distribution from a partnership Similarly, in the case of a liquidating distribution from a partnership, the business assets are deemed to have been distributed to the partners and transferred to the liquidating trust. For instance, a retail chain may wish to close some of its stores.
The court may appoint an official receiver, and one or more liquidators , and has general powers to enable rights and liabilities of claimants and contributories to be settled. Moreover, by entrusting the liquidation process to a liquidating trust charged with establishing appropriate reserves, management can take comfort that they have discharged their duties.
- Define Liquidating Trust. means that trust established in accordance with section V.B....
- Liquidating trust is a trust designed to be liquidated as soon as possible. For example: a trust into which a...
- Liquidating Trustee definitions - Defined Term
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- A TRUSTEE IN BANKRUPTCY IS AN ENTITY, OFTEN AN INDIVIDUAL, IN CHARGE OF ADMINISTERING A BANKRUPTCY...
- LIQUIDATING TRUST | LEGAL DEFINITION OF LIQUIDATING TRUST BY KORENIONLINE.INFO
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