(a) Contingent liabilities

Note 10. Contingent liability

1. Reporting obligations on personal debts or liabilities

(iii) compelling testimony or the delivery of information concerning the assets and liabilities of the debtor

(q) quot Unliquidated obligation quot shall mean an obligation or that portion of an obligation which is not yet disbursed.

quot (d) compelling testimony or the delivery of information concerning the assets and liabilities of the debtor

We are not asking for debt forgiveness or debt cancellation.

In those cases where there are no unencumbered assets, or no excess value in already encumbered assets, that the debtor can offer as security or with which the debtor can satisfy an administrative expense priority claim, the debtor has limited options.

(f) Grantor means a person that creates a security right in one or more of its assets in favour of a secured creditor to secure either its own obligation or that of another person (see debtor).

Light bars represent debt cancellation or rescheduling.

(a) the commencement or continuation of individual actions or proceedings concerning the debtor apos s assets, rights, obligations or liabilities shall be stayed and

(a) the commencement or continuation of individual actions or individual proceedings concerning the debtor apos s assets, rights, obligations or liabilities are stayed

(a) the commencement or continuation of individual actions or individual proceedings concerning the debtor apos s assets, rights, obligations or liabilities are stayed

(b) Contingent liabilities amounting to 304.4 million had not been disclosed in the financial statements

(d) providing for the examination of witnesses, the taking of evidence or the delivery of information concerning the debtor apos s assets, affairs, rights, obligations or liabilities

(d) providing for the examination of witnesses, the taking of evidence or the delivery of information concerning the debtor apos s assets, affairs, rights, obligations or liabilities

Trade credit or indebtedness incurred in the ordinary course of business by an insolvency representative (or a debtor in possession) may be treated automatically as an administrative expense.

Contingent liability reserve for the United Nations Postal Administration

quot (d) providing for the examination of witnesses, the taking of evidence or the delivery of information concerning the debtor s assets, affairs, rights, obligations or liabilities

That treatment, for example, may prevent access to the funds of one company for the payment of the debts or liabilities of a related debtor company (except where the debtor company is a shareholder or creditor of the related company), notwithstanding the close relationship between the companies and the fact that the related company may have taken part in the management of the debtor or acted like a director of the debtor and caused it to incur debts and liabilities.

quot (a) the commencement or continuation of individual actions or individual proceedings concerning the debtor s assets, rights, obligations or liabilities are stayed

(b) Recognition that debtor States can invoke the rebus sic stantibus principle (fundamental change of circumstances rule) (the obligation is extinguished and the debtor is released from it when its fulfilment is impossible, very onerous or essentially different from when the debt was contracted)

It was noted that the stay was meant to cover all actions capable of affecting the assets of the debtor or increasing the debtor s liabilities.

Other laws grant secured creditors relief from the stay to pursue individual remedies regarding such proceeds or, where use of the proceeds is not authorized by either the secured creditor or the court, hold the debtor, its management or the insolvency representative personally liable for the amount of the proceeds or make such debt non dischargeable.

(d) providing for the examination of witnesses, the taking of evidence or the delivery of information concerning the debtor s assets, affairs, rights, obligations or liabilities

The law should specify that a security right may secure all types of obligation, including future, conditional and fluctuating obligations.

On the subject of debt, the United Nations is requested to support the efforts currently being made by the Commission of the African Union for a thorough review of debt, leading to debt cancellation for the heavily indebted poor countries and to debt reduction or cancellation for middle income indebted countries.

(a) commencement or continuation of individual actions or individual proceedings concerning the debtor s assets, rights, obligations or liabilities is stayed

Savings on, or cancellation of, prior periods obligations

(i) Contingent liabilities of 304.4 million for which arbitration proceedings have either been or are about to be initiated by vendors were not disclosed in the financial statements

(ii) Possessory security right means a security right in tangibles that are in the actual possession of the secured creditor or of another person (other than the debtor or other grantor) holding the asset for the secured creditor.

(3) to set down the scheme for debt disposal or inheritance through negotiating with the creditors

(1)A serious financial difficulty occurs to the issuer or debtor

The issue was not only the aggregate level of debt it was also a question of balance between private and public sector debt, their maturity structure, the level of contingent liabilities, reserve management and pursuit of macroeconomic policies consistent with development objectives.

One approach is for the valuation, at least in the first instance, to be determined through agreement by the parties (being the debtor, or insolvency representative, and the secured creditor).

Unliquidated obligations prior periods

(1) Where an insolvency proceeding has been opened in a foreign jurisdiction in which the debtor has the centre of its main interests, the courts of the enacting State shall have jurisdiction to open insolvency proceedings against the debtor only if the debtor has an establishment or assets in the enacting State , and the effects of those proceedings shall be restricted to the establishment or assets of the debtor situated in the territory of the enacting State .

It does, however, require more than just international aid or debt relief.

Those instances include cases where the insolvent debtor has assets in more than one State or where among the creditors of the debtor there are some that are not from the State where the insolvency proceeding is taking place.

(w) Contingent liabilities

(2) (a) Upon recognition of a foreign main proceeding , or upon application for recognition in regard to proceedings taking place in one of the States listed in Annex X, the commencement or continuation of individual actions by creditors against the debtor or the debtor apos s assets and the transfer of any assets of the debtor are stayed.

A number of insolvency laws permit the insolvency representative (or a debtor in possession where that approach is followed) to determine that new money is required for the continued operation or survival of the business or the preservation or enhancement of the value of the estate and obtain unsecured credit without approval by the court or by creditors.

(b) If, in the time that elapses between the establishment of an obligation and the processing of final payment, the cost of the relevant goods or services has, for whatever reason, increased by less than 2,500 (or its equivalent in other currencies) or 10 per cent of the obligation, whichever is lower, no change need be made to the amount of the original obligation.

Where the security right at issue (which secures the debtor's obligation) is granted by the debtor, the term debtor also refers to the grantor.

Some insolvency laws require such borrowing or credit to be approved by the court or by creditors, while other laws provide that the insolvency representative may obtain the necessary credit or finance without approval.