(65) The insolvency law should enable a security interest to be granted for repayment of post commencement finance, including a security interest on unencumbered assets, including after acquired assets, or a junior or lower priority security interest on already encumbered assets of the estate.

The insolvency law should provide that an asset of the estate acquired after the commencement of an insolvency proceeding with respect to the grantor is subject to a security right created by the grantor before the commencement of the insolvency proceeding to the extent the asset is proceeds (whether cash or non cash) of an encumbered asset which was an asset of the grantor before the commencement of the proceeding.

The insolvency law should enable a security interest to be granted for repayment of post commencement finance, including a security interest on an unencumbered asset, including an after acquired asset, or a junior or lower priority security interest on an already encumbered asset of the estate.

(53) The insolvency law should specify that encumbered assets may be further encumbered, subject to the requirements of recommendations 65, 66 and 67.

It should also specify that a security right may be given in all types of asset, including parts of assets and undivided interests in assets and assets which, at the time of the security agreement, the grantor may not yet own or have the power to dispose of, or which may not yet exist, as well as in proceeds.

C. Except as provided in D , the insolvency law should provide that an asset of the estate acquired after the commencement of an insolvency proceeding is not subject to a security right created by the grantor before the commencement of the insolvency proceeding.

(a) The creation of a security right in proceeds is governed by the law of the State whose law governs governing the creation of the security right in the original encumbered asset from which the proceeds arose and

(h) Encumbered asset means property that is subject to a security right.

H. The insolvency law should provide that, in determining the liquidation value of encumbered assets in a reorganization proceeding, consideration should be given to the use of those assets and the purpose of the valuation.

The fixed minimum wage valid for the whole country is the focal point in the negotiations on determining wages in the different production branches.

Valuation of encumbered assets

(i) Protecting the value of the encumbered asset

If a security right is effective against third parties at the time when the encumbered assets become fixtures in movables, the security right in the encumbered assets remains effective against third parties.

The insolvency law should provide that, in the case of the insolvency proceedings of the grantor, the acquisition financier has the rights and duties of a holder of a security right.

Facilities, materials and equipment, real estate or other assets used in the commission of the offence

The law should provide that the delivery of possession of the assets to be encumbered is to the secured creditor or a third person (other than the grantor or an agent or employee of the grantor) that holds the assets on behalf of the secured creditor.

Protection from diminution of the value of encumbered assets

The court may order forfeiture of assets

(n) Fixed. assets.

(a) A security right in an asset that is not effective against third parties is subordinate to a security right in the same asset that is effective against third parties, without regard to the order in which the security rights were created and

In other States, term loans secured by movables other assets, such as equipment and even intellectual property, are common.

(58) The insolvency law should permit the insolvency representative to sell assets that are encumbered or subject to other interests free and clear of those encumbrances and other interests, outside the ordinary course of business, provided that

Codification of items for the field assets control system

V. Field assets control system design

(The unit of measure should not exceed one ten thousandth of the total military expenditures.

(a) Assets of the debtor, including the debtor's interest in encumbered assets and in third party owned assets

Asset account

It may be that, as between the grantor and the secured creditor, the secured creditor has agreed to treat the proceeds as encumbered assets.

(i) Another secured creditor with a security right in the same encumbered asset (whether as an original encumbered asset or proceeds)

The law should provide that a description of the assets covered by a registered notice is legally sufficient if it enables a third person to identify the assets covered by the notice separate from other assets of the grantor.

The Commission of Inquiry on properties and assets of civil servants was established in the Gambia.

(a) The use and disposal of assets of the estate (including encumbered assets) in the ordinary course of business, except cash proceeds and

Valuation of encumbered assets in reorganization proceedings

For purposes of establishing the inventory and ensuring accountability for property and equipment, all items of material and equipment were segregated, categorized and classified.

The Guide stresses the need to enable a grantor to create security rights not only in its existing assets but also in its future assets (i.e. assets acquired or created after the conclusion of the security agreement), without requiring the grantor or secured creditor to execute any additional documents or to take any additional action at the time such assets are acquired or created.

100. The machinery for minimum wage fixing in Sri Lanka is an independent, permanent and tripartite board with powers of effective recommendation, established at industry level to determine minimum rates of wages for specified groups of workers in industries.

(179) The insolvency law should provide that the insolvency representative may determine the portion of a secured creditor's claim that is secured and the portion that is unsecured by valuing the encumbered asset.

These are provisions on money laundering, on environmental protection, and on the use or misuse of company equipment and assets.

Frequently, the only unencumbered assets that may be available for securing post commencement finance will be assets recovered through avoidance proceedings.

The insolvency law should provide that the insolvency representative is entitled to recover from the value of an encumbered asset reasonable costs or expenses (including overhead as appropriate) incurred by the insolvency representative in maintaining, preserving or increasing the value of the encumbered asset for the benefit of the secured creditor.

The question of providing security over unencumbered assets or assets that are not fully encumbered is not one that generally should require approval of the court.

IV. Field assets control system infrastructure

The insolvency law should provide that, in the case of the insolvency proceedings of the grantor, the acquisition financier has the rights and duties of a holder of a security right.

Device URI

Initiative Fixed asset tracking