0
What is mean by you have filed proof of a claim in the Companies' Creditors Arrangement Act proceeding?
Wiki User
∙ 9y ago
CCAA-The Companies' Creditors Arrangement Act (CCAA) is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs. The main purpose of the CCAA is to enable financially distressed companies to avoid bankruptcy or foreclosure or seizure of assets while maximizing returns for their creditors and preserving both jobs and the company's value as a functioning business. CCAA proceedings are carried out under the supervision of the Court.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
Who has the first claim to the profits and assets of a firm?
Creditors.
What happens when you die and you have no heirs and you owe money?
Generally, your creditor(s) may petition the probate court to commence a probate proceeding for your estate if you have left any assets. Then, the creditor can file a claim against the estate. If you die with no assets in your name, your creditors are out of luck.
What Is A No Win No Fee Claim?
A no win, no fee claim is an arrangement between you and your personal injury solicitor.
Would an estate be liable to pay a claim that was previously included in the deceased bankruptcy?
Bankruptcy is an extremely complex area of law. You should have the situation reviewed by the attorney who is handling the estate. Perhaps you could also contact the attorney who handled the bankruptcy to determine if the process was completed and if you could obtain a list of the creditors who were addressed in that proceeding.
Which companies claim to sell tires for less?
There are many companies that claim to sell tires for lower prices than the competitive market. Companies such as American Omni claim to sell these low priced tires for automobiles.
What percentage of unsecured debt is paid to the debtors involved in a chapter 13 bankruptcy?
The percentage paid to unsecured creditors in a Ch 13 is determined by your disposable income. Secured creditors get paid at 100%, house and car payments remain the same. What's left over gets paid out to those unsecured creditors who file proofs of claim. If a creditor does not file a claim, then that creditor does not get paid.
Who can file a proof of claim in any bankruptcy proceedings?
In a chapter 7, with a no-asset notice, no claim can be filed. In a chapter 13, all creditors should file a proof of claim within the time period provided.
What are the companies that claim to have the best elliptical trainers?
There are some companies out there that have elliptical trainers. Of course all the companies claim that theirs elliptical trainers are the best. Some companies that have elliptical trainers are Horizon, Tempo and Bladez
Can insurance companies call on receipts submitted in a claim?
Not sure what you are asking but insurance companies have the legal right do require proof of spending for claim settlement.
What are creditors holding secured claims?
If you signed a Security Agreement, then your creditor has a secured claim on the collateral specified in the agreement.
What lien do I file on someone declaring chapter 11?
The type of lien you file, if any and how, is not effected/changed by someone "declaring" bankruptcy, as all creditors will have the opportunity to submit proofs of claim. If they have already declared, then you can't file a lien anyway as all collection actions are barred. Just your proof of claim. Normally, a "someone" doesn't file C-11....it is for Companies.
On a bankruptcy filing form what does it mean when it asks schedule F creditors holding unsecured nonpriority claims and asks for the date claim was incurred and consideration for claim?
Creditors are either secured or unsecured. Secured creditors such as the mortgage on your house or you car loan go on Schedule D. Unsecured creditors (creditor without liens or collateral) are either priority or nonpriority. The only creditors who are classified as priority go on Schedule E and Schedule E contains a list of the categories. Every other creditor (general unsecured creditors) goes on schedule F. The most common example of unsecured nonpriority creditors are credit cards and medical bills. You basically need to give a general description of what you bought and when you bought it. You don't need exact dates.
