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A charging order, in English law, is an order obtained from a court or judge by a judgment creditor, by which the property of the judgment debtor in any stocks or funds or shares in a limited liability company or land stands charged with the payment of the amount for which judgment shall have been recovered, with interest and costs.
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
In English and American law, a judgment debtor is a person against whom a judgment ordering him to pay a sum of money has been obtained and remains unsatisfied. Such a person may be examined as to their assets, and if the judgment debt is of the necessary amount he may be made bankrupt if he fails to comply with a bankruptcy notice (in US law, an involuntary petition) served on him by the ...
This document affirms that the judgment debtor has fulfilled any obligations relating to the judgment. For example, in California, a judgment creditor must file an "Acknowledgment of Satisfaction of Judgment" [42] where it has been paid in full by the judgment debtor within 15 days of the judgment debtor's request. [43]
Confession of judgment is a legal term that refers to a type of contract (or a clause with such a provision) in which a party agrees to let the other party enter a judgment against them. Such contracts are highly controversial and may be invalidated as a violation of due process by courts, since the obligor is essentially contracting away his ...
The judgment summons cites the defendant to appear personally in court, and be examined on oath as to the means he has, or has had, since the date of the order or judgment made against him, to pay the same, and to show cause why he should not be committed to prison for his default. An order of commitment obtained in a judgment summons remains ...
Under subsection (b), notwithstanding the requirements of subsection (a), the security cannot exceed the lesser of 1) 50 percent of the judgment debtor's net worth or 2) USD$25 million. Under subsection (c), if the judgment debtor shows that the amount of the security would cause "substantial economic harm", the trial court is required to lower ...
Section 109(c) of the U.S. Bankruptcy Code provides that a municipality may be a debtor in a Chapter 9 bankruptcy case only if the municipality is specifically authorized to be a debtor by State law, or by a governmental officer or organization empowered by State law to authorize the municipality to be a debtor. [20]
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