marshalling assets

marshalling assets
Also known as marshalling assets and securities, marshalling of liens or marshalling of remedies, it is an equitable doctrine requiring a senior creditor, having two funds to satisfy his debt, to resort first to the one fund which is not subject to the demand of a junior creditor of the common debtor, to avoid the inequity which would result from an election of the senior creditor to satisfy its demand out of the only fund available to the junior creditor, thereby excluding the junior creditor from any satisfaction. Matter of Central R. Co. of New Jersey, D.C.N.J., 45 B.R. 1011, 1019.
The arrangement or ranking of assets in a certain order towards the payment of debts. Under the common law, a doctrine whereby encumbered lands, which are sold to different persons at different times by conveyances the grantees and the person holding the lien, are chargeable in equity with the encumbrance in the inverse order of their alienation. Ingersoll v. Somers Land Co., 82 N.J.Eq. 476, 89 A. 288

Black's law dictionary. . 1990.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • marshalling assets — n. Arranging assets into the order in which they will be used to pay debts. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary

  • marshalling assets — Also known as marshalling assets and securities, marshalling of liens or marshalling of remedies, it is an equitable doctrine requiring a senior creditor, having two funds to satisfy his debt, to resort first to the one fund which is not subject… …   Black's law dictionary

  • assets — /aesets/ Property of all kinds, real and personal, tangible and intangible, including, inter alia, for certain purposes, patents and causes of action which belong to any person including a corporation and the estate of a decedent. The entire… …   Black's law dictionary

  • assets — /aesets/ Property of all kinds, real and personal, tangible and intangible, including, inter alia, for certain purposes, patents and causes of action which belong to any person including a corporation and the estate of a decedent. The entire… …   Black's law dictionary

  • marshalling — the principle that where two or more creditors seek payment from the assets of the same debtor where one creditor can claim against one source of assets and another can claim against two sources, the creditor with the two sources may be required… …   Law dictionary

  • Doctrine of marshalling — Marshalling is a common law equity concept applied in the context of lending. Suppose there are two creditors and one borrower. Creditor A has the right to resort to two pieces of security interest of the borrower and creditor B only has access… …   Wikipedia

  • Marshaling of assets — Marshaling Mar shal*ing, n. [Written also marshalling.] [1913 Webster] 1. The act of arranging in due order. [1913 Webster] 2. (Her.) The arrangement of an escutcheon to exhibit the alliances of the owner. [1913 Webster] {Marshaling of assets}… …   The Collaborative International Dictionary of English

  • Conservatorship — is a legal concept in the United States of America, where an entity or organization is subjected to the legal control of an external entity or organization, known as a conservator. Conservatorship is established either by court order (with… …   Wikipedia

  • pari passu — share and share alike , a term used in several contexts but especially in relation to the rights and ranking of creditors of an insolvent estate; it denotes an entitlement to payment of their debts in shares proportionate to their respective… …   Law dictionary

  • securities — Stocks, bonds, notes, convertible debentures, warrants, or other documents that represent a share in a company or a debt owed by a company or government entity. Evidences of obligations to pay money or of rights to participate in earnings and… …   Black's law dictionary

Share the article and excerpts

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