no asset case

no asset case
no asset case
A Chapter 7 bankruptcy case in which there are no assets available for distribution (SA-Bankruptcy.com)

If, after consideration of exemptions and secured creditors and lien holders, there is no property that can be liquidated/distributed for the benefit of creditors, the case is said to be a "no asset" case.
Even though a debtor may have assets (real estate, automobiles, accounts receivable), if those are fully exempt or fully encumbered, the case may be a "no asset" case. (Bernstein's Dictionary of Bankruptcy Terminology)

A Chapter 7 case where there are no assets available to satisfy any portion of the creditors' unsecured claims. (BankruptcyAction.com)

United Glossary of Bankruptcy Terms 2012.

no asset case
If, after consideration of exemptions and secured creditors and lien holders, there is no property that can be liquidated/distributed for the benefit of creditors, the case is said to be a "no asset" case. Even though a debtor may have assets (real estate, automobiles, accounts receivable), if those are fully exempt or fully encumbered, the case may be a “no asset” case.

US Bankruptcy 2012.


Glossary of Bankruptcy.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • no-asset case — A Chapter 7 bankruptcy case in which there are no assets available for distribution (SA Bankruptcy.com) If, after consideration of exemptions and secured creditors and lien holders, there is no property that can be liquidated/distributed for the… …   Glossary of Bankruptcy

  • Asset specificity — is a term related to the inter party relationships of a transaction. It has been extensively studied in a variety of management and economics areas such as marketing, accounting, organizational behavior and management information systems.… …   Wikipedia

  • Asset stripping — involves selling the assets of a business individually at a profit. The term is generally used in a pejorative sense as such activity is not considered productive to the economy. Asset stripping is considered to be a problem in economies such as… …   Wikipedia

  • Asset-backed security — In finance, an asset backed security is a type of debt security that is based on pools of assets, or collateralized by the cash flows from a specified pool of underlying assets. Assets are pooled to make otherwise minor and uneconomical… …   Wikipedia

  • Asset forfeiture — This article is about focuses on the confiscation/forfeiture of assets in common law countries. For a worldview focus on recovering the proceeds of crime stored in foreign jurisdictions, see International Asset Recovery. Asset forfeiture is… …   Wikipedia

  • Asset — This article is about the business definition. For other uses, see Asset (disambiguation). Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · …   Wikipedia

  • Asset Management Plan — An Asset Management Plan (AMP) is a tactical plan for managing an organisation s infrastructure and other assets in order to deliver an agreed standard of service. Typically, an Asset Management Plan will cover more than a single asset, taking a… …   Wikipedia

  • asset sensitive — Describes an entity s position when an increase in interest rates will help the entity and a decrease in interest rates will hurt the entity. An entity is asset sensitive when the impact of the change in its assets is larger than the impact of… …   Financial and business terms

  • Asset Value Per Share — The total value of a fund s investments divided by its number of shares outstanding. This type of asset value per share is more commonly referred to as net asset value per share or simply net asset value or NAV. Asset value per share can also… …   Investment dictionary

  • Asset Base — The underlying assets giving value to a company, investment or loan. The asset base is not fixed, it will appreciate or depreciate according to market forces. Lenders use physical assets as a guarantee that at least a portion of money lent can be …   Investment dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”