Law applicable to priority

In some legal systems, all of the priority, super priority, security and priming lien options for attracting post commencement finance are available to cover the new lending.

Article 28. Law applicable to conflicts of priority 70 74 19

(ii) The priority of a right in a receivable to the extent that under that law an interest in the real property confers such a right or

(b) It will apply those priority rules with modifications specified in that declaration.

The amendment provides for extensive changes and additions to human rights provisions previously in effect.

Proposals were made to replace the words quot secured claims quot and quot rights in rem quot , with reference to quot privileged claims quot , quot preferred claims quot or other expressions with a similar meaning.

Mr. Enrique Bernales Special Rapporteur on the use of mercenaries Ballesteros as a means of impeding the exercise of the right of peoples to self determination

In addition, it was stated that legal opinions varied greatly as to whether article 12 of the Rome Convention was applicable to questions of priority or to any other question relating to property rights.

(a) By control has priority over the rights of all other secured creditors

The law should provide that the priority of security rights in fixtures in movables is governed by the general rules applicable to movable property.

In addition, it was noted that priority under the draft Convention gave a creditor only the right to be paid before other creditors that were subsequent in the line of priority.

and Mortgages and Related Subjects

First come, first serve.

Network Priority

It was explained that, with the uncertainty prevailing as to the law applicable to questions of priority, assignees had to meet the requirements of a number of jurisdictions in order to ensure that they would obtain priority, a process which increased the cost of credit.

Mr. WISSA (Egypt), reserving the right to make a general statement in the plenary Assembly, said that he would abstain from voting.

Priority of the security right over the rights of competing claimants

Administrative priority creditors do not rank ahead of a secured creditor with respect to its security interest, but generally are afforded a first priority (see chap. V, paras. 45 47 and 66) that ranks ahead of ordinary unsecured creditors and any statutory priorities, for example, taxes or social security claims.

5. With respect to the relationship between maritime claims and maritime liens , the observer for the International Maritime Committee (CMI) noted that, in ensuring that maritime liens recognized by the 1993 International Convention on Maritime Liens and Mortgages (MLM Convention) were covered by the definition of maritime claim , there was no need strictly to use the same wording, since maritime liens were by nature more restrictive than maritime claims .

Mr. Anshor (Indonesia) asked how the Truth Commission would contribute to the promotion of human rights.

CONTENTS (continued)

Oh, Leslie, let the poor boy eat his breakfast in peace.

No, darling! You first.

Not quite yet, Ito.

No, sir.

Priority of acquisition security rights over pre registered non acquisition security rights in future inventory

quot (8) Priority means the right of a party to receive payment in preference to another party.

Atticus, I was just sayin' to Mr. Cunningham that entailments were bad, but not to worry.

The deprivation of liberty of Mr. Antonio Herreros Rodríguez, Mr. Fernando González Llort, Mr. Gerardo Hernández Nordelo, Mr. Ramón Labaniño Salazar and Mr. René González Schweret is arbitrary, being in contravention of article 14 of the International Covenant on Civil and Political Rights and corresponds to category III of the categories applicable to the examination of the cases submitted to the Working Group.

With respect to the question of establishing equal treatment between foreign and local creditors quot of the same priority quot , it was noted that definitions and classes of priority of creditors varied greatly from country to country and that it would not be feasible to require that the court of the enacting State should apply to foreign creditors the priority rules of their respective foreign laws.

This recommendation does not affect the application of any insolvency rules, including any rules relating to avoidance, priority, or enforcement of security rights.

OF EXPERTS ON MARITIME LIENS AND MORTGAGES AND RELATED

Priority of acquisition security rights over pre registered non acquisition security rights in future goods other than inventory

You really don't have the right priorities!

He preaches civil rights.

Treating them right?

Rules on priority of access and transparent and non discriminatory access tariffs are essential in this context.

Sir, have one of mine.

It was a pleasure, sir.

No presents in advance.

(b) By acknowledgement has priority over a security right made effective by any method other than control to the extent the proceeds are payable under and pursuant to the terms of that acknowledgement in the case of inconsistent acknowledgements given by the same person, the first secured creditor to obtain an acknowledgement from that person has priority

The law should provide that the priority, provided under recommendation 130, for an acquisition security right in inventory over a pre registered security right in the same goods applies to the proceeds of such inventory, provided that the acquisition financier notified pre registered financiers with a security right in assets of the same kind as the proceeds.

The concept of priority, which allows for the concurrent existence of security rights having different priority status in the same assets, makes it possible for a business to utilize the value of its assets to the maximum extent possible by obtaining secured credit from more than one creditor using the same assets as security with transparent rules allowing each creditor to know the priority of its security right.

This recommendation does not affect the application of any insolvency rules, including any rules relating to avoidance, priority or enforcement of security rights.