(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.

(b) Assets of the debtor property, rights and interests of the debtor, including rights and interests in property, whether or not in the possession of the debtor, tangible or intangible, movable or immovable, including the debtor's interests in encumbered assets or in third party owned assets

To that end, the project s assets and revenue, and the rights and obligations relating to the project, are independently estimated and are strictly separated from the assets of the project sponsors.

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.

Ability to sell assets of the estate free and clear of encumbrances and other interests

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

(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

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

(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

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

The treatment of non financial assets and the revenue flows stemming from the leasing or right to use these assets, for example, software, copyrights on music and film, research and development

Chapter VIII Definition of Financial Assets, Financial Liabilities and Equity Instruments

Such advantage may be an asset of any kind, tangible or intangible, movable or immovable, as well as the legal deeds or documents certifying title to or rights over the asset.

(2)The equity instrument investments for which there is no quotation in the active market and whose fair value cannot be measured reliably, and the derivative financial assets which are connected with the said equity instrument and must be settled by delivering the said equity instrument shall be measured on the basis of their costs.

However, the impairment related losses incurred to an equity instrument investment for which there is no quoted price in the active market and whose fair value cannot be reliably measured, or incurred to a derivative financial asset which is connected with the said equity instrument and which shall be settled by delivering the said equity instrument, may not be reversed.

if the assets sold are non equity assets, the total assets and the net assets are respectively the book value of the assets and the difference between the related assets and the book value of the liabilities

(66) The law should specify that a security interest over the assets of the estate to secure post commencement finance does not have priority ahead of any existing security interest over the same assets unless the insolvency representative obtains the agreement of the existing secured creditor(s) or follows the procedure in recommendation 67.

INTELLECTUAL PROPERTY RIGHTS AND ACCESS AND BENEFIT SHARING ISSUES 22 28 8

And when the said financial asset is transferred out at its disposal, it shall be recorded into the profits and losses of the current period.

The law should provide that a secured creditor's priority with respect to an encumbered asset extends to the proceeds of the asset subject to the requirements of recommendation 54.

if the assets sold are equity, the total assets, business income and net assets are respectively the product of total assets, business income and net assets of the invested enterprise and the equity percentage of the investment.

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.

Thus, the Office of Legal Affairs indicated that quot as a fiduciary for the interest of the participants and beneficiaries of the Fund, the Secretary General has been accorded the powers of an agent with respect to the investment of the assets of the Fund quot .

The gains or losses that are related to the said financial asset and that are directly included in the owner s equity shall be dealt with according to the following provisions

28. Following a request by the World Intellectual Property Organization (WIPO), the travel arrangements of the beneficiaries of travel grants from the Fund were changed to allow them also to participate in the Roundtable on Intellectual Property and Indigenous Peoples, organized by WIPO on 23 and 24 July 1998. The World Intellectual Property Organization paid for the extra days of stipend for the beneficiaries.

(d) Property shall mean assets of every kind, whether corporeal or incorporeal, movable or immovable, tangible or intangible, and legal documents or instruments evidencing title to, or interest in, such assets

(d) Property shall mean assets of every kind, whether corporeal or incorporeal, movable or immovable, tangible or intangible, and legal documents or instruments evidencing title to or interest in such assets

(3) Fair price will be for the assets involved in the material assets reorganization and there are no circumstances that can damage the legitimate rights and interests of the listed company and the shareholders

The period of maternity leave is counted as time worked for the purposes of seniority, annual leave and the thirteenth month bonus.

(ii) The secured creditor will be protected against diminution of the value of the encumbered asset in which it has a security interest.

(4) As regards tradable financial assets, it is required to separately list the beginning of period and end of period fair value of tradable bond investment, tradable equity instrument investment, financial assets which are specified to be measured on fair value and whose fluctuations are included in the current profits and losses, derivative financial assets and other tradable financial assets.

Such restrictions might serve the purpose of ensuring the transparency of the project s accounts and preserving the integrity of the project s assets, by segregating each project s assets, proceeds and liabilities from the assets, proceeds and liabilities of other projects or other activities not related to the project.

The balance between the carrying amount of the said investment at the re classification day and the fair value shall be computed into the owner s equity, and when the said sellable financial asset is impaired or transferred out when it is terminated from recognizing, it shall be recorded into the profits and losses of the current period.

These collective interests will conflict if the total assets of the combined companies are insufficient to meet all claims.

Article 58The equity instruments refers to the contracts which can prove that a certain enterprise holds the surplus equities of the assets after the deduction of all the debts.

The law should address the priority of a security right in a leased asset that is effective against third parties as against the rights of a lessee of such asset.

(b) The concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to or ownership of property, knowing that such property is the proceeds of crime

The law should specify that a security interest over the assets of the estate to secure post commencement finance does not have priority ahead of any existing security interest over the same assets unless the insolvency representative obtains the agreement of the existing secured creditor(s) or follows the procedure in recommendation 67.

One approach is to protect the value of the encumbered asset itself on the understanding that, upon liquidation, the proceeds of sale of the asset will be distributed directly to the creditor to the extent of the secured portion of their claim.

(50) The insolvency law should specify that, upon application to the court, a secured creditor should be entitled to protection of the value of the assets in which it has a security interest. The court may grant appropriate measures of protection that may include

(ff) Priority means the right of a person to derive the economic benefit of its security right in an encumbered asset in preference to a competing claimant.

And when the said sellable financial asset is impaired or transferred out when it is terminated from recognition, it shall be recorded into the profits and losses of the current period.

(i) An extension is necessary to maximize the value of assets for the benefit of creditors and

The interests and the authority of a representative of a foreign non main proceeding are typically narrower than the interests and the authority of a representative of a foreign main proceeding, who normally seeks to gain control over all assets of the insolvent debtor.

Article 15 If a securities firm is to be merged or divided, its major assets transfer that relates to customer s interests should be evaluated by assets evaluation agency with securities related qualification.