Involuntary Bankruptcy as Debt Collection: Multi-Jurisdictional Lessons in Choosing the Right Tool for the Job

2012 ◽  
Author(s):  
Jason J. Kilborn ◽  
Adrian Walters
Keyword(s):  
Debt Collection ◽  
The Right

PROTECTION OF CREDITORS IN THE EXECUTION FIDUCIARY GUARANTEE KENDARAAN MOTOR CREDIT

2015 ◽  
Vol 1 (1) ◽  
pp. 62-75
Author(s):  
Nurwati SH., MH.
Keyword(s):  
Moving Objects ◽  
Legal Aspects ◽  
The Other ◽  
Legal Evidence ◽  
Other Hand ◽  
Credit Guarantees ◽  
Legal Security ◽  
Debt Collection ◽  
The Right ◽  
Direct Execution

ABSTRACTFiduciary security is legal security over on moving objects both tangible and intangible, and building or a house on the land belong to someone else, either registered or not, which cannot be burdened with mortgage rights that keep in control of the fiduciary as collateral of debt repayment. If debtor as Fiduciary giver to be insolvent, so the creditor is entitled to have the fiduciary mentioned. For repayment of the debtor and the creditor in this case is called the right separatists.  There are many direct execution in banking practice about the object credit that are not perfect bound of guarantees or not through the insurance agency. Execution is doing by creditors, which debtor accompanied or not, or the object credit guarantees owner. Execution is done by regular sales or through creditor takeover.  Protection of creditors interest doing by giving legal aspects of registration precedes rights while providing executorial title for the fiduciary receivers benefit, on the other hand, the registration arrangements for certain objects that are not listed cause haziness opportunities of law implementation if it isnot done by carefully and clearly. To protect creditors interests, at the time of the debtor defaults, so that creditors as apreferential rights receiver in debt collection and as legal evidence, so warehouse receipts guarantee that the debtor should be given the imposition of bail.Key: Execution, Fiduciary, Creditors, Debtors

scholarly journals Influence of group purchasing organizations on financial situation of Polish SMEs

2018 ◽  
Vol 9 (1) ◽  
pp. 87-104 ◽  
Author(s):  
Grzegorz Zimon
Keyword(s):  
Positive Impact ◽  
Value Added ◽  
Financial Situation ◽  
Balance Sheets ◽  
Progressive Development ◽  
Group Purchasing Organization ◽  
Group Purchasing Organizations ◽  
Debt Collection ◽  
The Right ◽  
The Impact

Research background: SMEs often operate in markets where they compete with large companies. A fight for a customer, payment backlogs, problems with debt collection and new branches cause that managers are looking for solutions that will influence positively on the situation of financial companies. Maintaining liquidity and generating income are the primary steps to build a competitive position and a progressive development of enterprises. One of the most popular methods that allows companies to do profitable business and increase their chances for safety is operation within group purchasing organizations. Currently in the Polish market there are many different types of GPOs (Group Purchasing Organizations). The choice of the right one is a chance to improve their financial situation. Purpose of the article: The aim of the article is to present an impact of  group purchasing organizations on the financial situation of enterprises. In the article the classification of groups is done and there are shown the benefits that commercial enterprises operating in them gain. The article presents some obstacles to join specific group purchasing organizations and difficulties faced by companies operating in them. Methods: The studies were carried out on the basis of 60 SMEs. These companies operated in five Polish GPOs. The groups were divided into branch and multi-branch ones. The study period covered the years 2013–2015. In order to analyze the impact of purchasing groups on the financial situation of enterprises, some selected groups of financial ratios were used. A preliminary analysis of financial balance sheets and profit and loss account was conducted. Findings & Value added: The analysis showed that the choice of an appropriate group purchasing organization had a large impact on financial situation of companies. Different opportunities can be offered by a branch purchasing group than by the multi-branch one. Research has shown that better results relate to dynamics of revenues, costs, liquidity and profitability that are effects of operation within the branch purchasing groups. The analysis conducted has also showed that functioning within purchasing groups allows to maintain safe financial liquidity, apart from obtaining a low price of purchased goods and materials, and has a positive impact on the effectiveness of managing receivables and short-term liabilities.

scholarly journals Perbuatan Melawan Hukum Terhadap Tindak Pidana Pengambilan Benda Bergerak Sebagai Objek Pembiayaan Leasing

2020 ◽  
Vol 3 (1) ◽  
pp. 111-119
Author(s):  
Tito Alhafezt ◽  
Triono Eddy ◽  
Alpi Sahari
Keyword(s):  
Law Enforcement ◽  
Financial Institutions ◽  
Criminal Liability ◽  
Legal Certainty ◽  
Procedural Law ◽  
Debt Collectors ◽  
The Law ◽  
Notary Public ◽  
Debt Collection ◽  
The Right

The principle of the pacta sun servanda agreement stating that the agreement made by the parties to the agreement, will be the law for both, remains in force and becomes the main hope in the law of the agreement. But the agreement that provides fiduciary guarantees under the hand cannot be executed. The execution process must be carried out by submitting a lawsuit to the Negri Court through normal procedural law so that the court's ruling decreases. This paper aims to analyze or examine the legal arrangements for the taking of movable objects as objects of leasing financing and criminal liability for the actions of taking movable objects as objects of leasing financing. The results of this study indicate that criminal policies against financial institutions in the execution of fiduciary guarantees by debt collectors who have changed hands under the law number 42 of 199 concerning fiduciary guarantees to ensure legal certainty are made akata by the notary public and registered with the fiduciary office. Law enforcement against leasing parties in withdrawing fiduciary collateral by debt collectors based on law number 42 of 1999 concerning fiduciary explains that the right of execution is the authority of the court, not the authority of the seller of debt collection services that are usually leased by the leasing party.

scholarly journals A FUZZY RULE BASED INFERENCE SYSTEM FOR EARLY DEBT COLLECTION

2018 ◽  
Vol 24 (5) ◽  
pp. 1845-1865 ◽  
Author(s):  
Sezi Cevik Onar ◽  
Basar Oztaysi ◽  
Cengiz Kahraman
Keyword(s):  
Credit Card ◽  
Intelligent Systems ◽  
Data Science ◽  
Fuzzy Inference ◽  
Fuzzy Rule ◽  
Inference System ◽  
Customer Data ◽  
Debt Collection ◽  
Inference Systems ◽  
The Right

Nowadays, unpaid invoices and unpaid credits are becoming more and more common. Large amounts of data regarding these debts are collected and stored by debt collection agencies. Early debt collection processes aim at collecting payments from creditors or debtors before the legal procedure starts. In order to be successful and be able to collect maximum debts, collection agencies need to use their human resources efficiently and communicate with the customers via the most convenient channel that leads to minimum costs. However, achieving these goals need processing, analyzing and evaluating customer data and inferring the right actions instantaneously. In this study, fuzzy inference based intelligent systems are used to empower early debt collection processes using the principles of data science. In the paper, an early debt collection system composed of three different Fuzzy Inference Systems (FIS), one for credit debts, one for credit card debts, and one for invoices, is developed. These systems use different inputs such as amount of loan, wealth of debtor, part history of debtor, amount of other debts, active customer since, credit limit, and criticality to determine the output possibility of repaying the debt. This output is later used to determine the most convenient communication channel and communication activity profile.

scholarly journals Harmonization of European Insolvency Law: Preventing Insolvency Law from Turning against Creditors by Upholding the Debt–Equity Divide

2018 ◽  
Vol 15 (2) ◽  
pp. 403-444 ◽  
Author(s):  
R.J. de Weijs
Keyword(s):  
Potential Problem ◽  
Asset Sales ◽  
Insolvency Law ◽  
Going Concern ◽  
Eu Directive ◽  
Shareholder Loans ◽  
Debt Collection ◽  
The Right ◽  
Asset Sale ◽  
Second Chance

In essence, insolvency law is collective debt collection law. By means of a collective procedure, insolvency law seeks to ensure that the going concern value is captured for the creditors. Where the shareholders possess the dominant voice outside of insolvency, in insolvency creditors take over this position and become the economic owners of the company. In three different settings shareholders can interfere with the insolvency process and try to capture all the value in the company or at least leave the creditors with the liquidation value and usurp the going concern surplus. These three settings are (i) shareholders as secured lenders, (ii) shareholders as acquirers out of pre-packs or other asset sales and (iii) shareholders under composition plans. The proposed EU Directive on Preventive Restructuring Frameworks and Second Chance (November 2016) contains measures in the field of composition plans as part of a preventive restructuring. The proposed directive addresses the potential problem that shareholders would usurp the going concern surplus by introducing the Absolute Priority Rule. The proposed directive should be considered a first step in the right direction. It should, however, be realized that the protection offered in the proposed directive could easily be circumvented by a shareholder financing not with capital but with secured shareholder loans. Also, if pre-pack sales or other sale processes do not limit interference by shareholders, shareholders will prefer the route of an asset sale above a restructuring.

scholarly journals The Court Fee in the Context of Access to Justice: a Comparative Legal Aspect

2019 ◽  
pp. 204-211
Author(s):  
Myroslava HARIIEVSKA
Keyword(s):  
Legal Aspect ◽  
Access To Justice ◽  
Financial Status ◽  
The Law ◽  
Debt Collection ◽  
The One ◽  
The Right ◽  
Article 5 ◽  
Right Of Access ◽  
Full Exemption

The issues of the duty to pay court fees in the context of access to justice are considered. Attention is focused on the role of economic conditions in ensuring access to justice, which include establishing a reasonable amount of court fees and providing a procedural mechanism for deferral, installment payment or partial or full exemption from court fees. Attention is drawn to the need for the judicial authorities to ensure an appropriate balance between the interests of the state in collecting judicial fees for considering claims, on the one hand, and the plaintiff's interest in upholding his claim in court, on the other hand. Despite this, a number of provisions have been investigated that contribute to ensuring the right of access to justice to persons without financial insolvency to pay a court fee in the prescribed amount. It should be noted that the legislation provides for identical reasons for both exempting the court from payment of the court fee and reducing the amount of its payment, as well as for deferring and installment payment of the court fee. Emphasis is placed on the fact that the decision to postpone or defer payment of court fees should not come from the court's own initiative. If the person's financial status is unsatisfactory, the initiative to postpone or defer payment of court fees should come from the plaintiff or defendant, in the event of a counterclaim. Criteria are defined that the court must take into account when deciding on a deferral, installment plan or partial or full exemption from payment of the court fee. So, the court must take into consideration the income of the plaintiff, the prolonged non-receipt by employees of salaries, the non-receipt of rents for the land lease, information about the age and incapacity of individuals, debts to other persons, for example, for utilities, debt collection of the plaintiff within the enforcement proceedings, the presence of dependents etc. The issues of the need to delimit cases of exemption from payment of court fees, provided for by Article 5 of the Law of Ukraine «On Court Fee», and cases where the court fee is not paid at all, provided for by Part 2 of Article 3 of the Law of Ukraine «On Court Fee» is considered. Attention is focused on the fact that the grounds for the court's refusal to apply for deferment, installment plan or partial or full exemption from the payment of the court fee should be reasoned enough.

scholarly journals PECULIARITIES OF QUESTIONNAIRE ON DOCUMENTAL SUPPLY OF CREDIT SUPPLY RESERVES ON THE AGGREGATION, REQUIREMENT OF RIGHTS OF REQUIREMENTS

2019 ◽  
pp. 720-738
Author(s):  
Keyword(s):  
Asset Management ◽  
Third Party ◽  
Loan Portfolio ◽  
Investment Funds ◽  
Case File ◽  
Methodological Approaches ◽  
Domestic Banks ◽  
Debt Collection ◽  
The Right ◽  
The Relationship

The underlying insolvency and liquidity loss of the vast majority of banks is the presence of problem debt in them, or ‘toxic assets.’ At the same time, the presence of a significant part of the problem debt in the loan portfolio of domestic banks leads to an increase in stress assets and reduces the possibility of lending to the national economy. In addition, the growth of problem debt has constantly led to an increase in reserves for such loans. And if you add another revaluation to the hryvnia equivalent of troubled currency loans, under which also needed to form reserves, then quite logical was the activity of some banks, aimed at getting rid of troubled loans by selling to a third party (mostly factoring companies). An analysis of expert and court practice in claims for debt collection under a loan agreement in the event of a deferral of the claim through the sale of a loan portfolio and by concluding a factoring agreement indicates that there are problematic issues due to the fact that the materials of the case submitted for research do not include the proper executed documents confirming the transition of the right of claim and its volume, and the petition of experts on cases of confirmation of arrears under loan agreements in the presence of documents in the case file overs factoring, cessions are usually partially satisfied. Input data for conducting an examination, in many cases, is reflected ambiguously in the materials provided for research. In this article, the authors considered the relationship between banks and financial or factoring companies. But it should be noted that there are asset management companies, in addition, Ukrainian legislation allows the creation of corporate and unit investment funds. Taking into account the foregoing, in order to find solutions and work out common methodological approaches we invite all experts to professional discussion and exchange of experience. After summarizing the information on this topic, the issues that will arise will be highlighted in the following articles. Key words: loan portfolio, cession, factoring, bad debts.

Investor-State Dispute Settlement under NAFTA Chapter 11: The Shape of Things to Come?

1998 ◽  
Vol 35 ◽  
pp. 263-290
Author(s):  
J. Anthony VanDuzer
Keyword(s):  
Free Trade Agreement ◽  
Dispute Settlement ◽  
Trade Agreement ◽  
Minimum Standards ◽  
The North ◽  
State Behaviour ◽  
Nafta Chapter 11 ◽  
To Come ◽  
The Right

SummaryRecently, there has been a proliferation of international agreements imposing minimum standards on states in respect of their treatment of foreign investors and allowing investors to initiate dispute settlement proceedings where a state violates these standards. Of greatest significance to Canada is Chapter 11 of the North American Free Trade Agreement, which provides both standards for state behaviour and the right to initiate binding arbitration. Since 1996, four cases have been brought under Chapter 11. This note describes the Chapter 11 process and suggests some of the issues that may arise as it is increasingly resorted to by investors.

What face familiarity feelings say about the lateralization of specific entities within the core system

2019 ◽  
Vol 42 ◽  
Author(s):  
Guido Gainotti
Keyword(s):  
Temporal Lobe ◽  
Memory System ◽  
Core System ◽  
The Core ◽  
Memory Traces ◽  
Specific Memory ◽  
Target Article ◽  
Temporal Structures ◽  
The Right

Abstract The target article carefully describes the memory system, centered on the temporal lobe that builds specific memory traces. It does not, however, mention the laterality effects that exist within this system. This commentary briefly surveys evidence showing that clear asymmetries exist within the temporal lobe structures subserving the core system and that the right temporal structures mainly underpin face familiarity feelings.

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