They have first claim on the debtor's assets in the event that it is wound up.

The removal of the debtor's assets to another country has become a major problem for many creditors.

They provide for a sale of the debtor's assets to the creditors or to third parties.

Generally, a trustee will sell most of the debtor's assets to pay off creditors.

The listing of a debtor's assets and liabilities.

In theory, a debtor's assets are liquidated and divided among the unsecured creditors.

Once the debtor's assets are liquidated, the trustee pays certain creditors a portion of the money raised.

However, if bankruptcy is decided a trustee will be appointed to sell the debtor's assets and distribute the proceeds among his creditors.

Secured creditors are the first to get paid when a debtor's assets are realised - sold or disposed of to raise money.

Creditors may request the courts to take certain measures to secure the debtor's assets in order to make them available for eventual liquidation.

The law also authorizes the court, after rendering a verdict, to examine the debtor's assets and issue a restraining order to prevent their transfer.

Once creditors whose claims are secured by a debtor's assets are fully repaid, they no longer have a say in the bankruptcy process.

Lists submitted by the debtor along with the petition (or shortly thereafter) showing the debtor's assets, liabilities, and other financial information.

And small-claims judgments are good for 20 years: be patient, fortunes change, and a debtor's assets may be uncovered at a later date.

The essence of bankruptcy is that the debtor's assets are transferred to an official who administers and realises them for the benefit of all creditors.

A necessary component of effective enforcement is that the courts may, as an interim measure, act swiftly to order disclosure and freezing of the debtor's assets.

If it is granted, an automatic stay enters into force and a trustee (frequently the Official Receiver) is appointed for the debtor's assets.

Basically what happens is that once the filing is underway, an administrator or trustee is appointed to maneuver the sale of the debtor's assets.

In bankruptcy, the debtor's assets will vest in the Trustee (some assets are excluded, notably those used as tools of trade, ordinary household contents).

Most individuals who enter bankruptcy do so under Chapter 13 (a "reorganization" plan) or Chapter 7 (a "liquidation" of debtor's assets).

In a successful suit, the plaintiff is entitled to recover the property transferred or its value from the transferee who has received a gift of the debtor's assets.

In the event of insolvency when a debtor's assets are sold or disposed of, secured creditors are paid before preferential and unsecured creditors.

The problem is that in the Thai legal lexicon, Mr. Sutee said, the word for insolvent means liabilities that exceed a debtor's assets.

Moreover, to guarantee effective enforcement the courts must be able to order the disclosure and freezing of the debtor's assets within the context of measures to provide interim legal protection.

The proposal must also contain details of the debtor's assets and liabilities; the duration of the arrangement; and when distributions are to be made to creditors, with estimates of amounts.