Bankruptcy Action means (i) commencing any case, proceeding or other action or filing a petition under any existing or future bankruptcy, insolvency or similar law seeking (A) to adjudicate the Trust a bankrupt or insolvent, (B) to have an order for relief entered with respect to the Trust, or (C) reorganization, arrangement, adjustment, wind-up, liquidation, dissolution, composition or other. If an Order of Discharge is vacated, that means the bankruptcy has probably been reopened, and the debts that were in the bankruptcy are "back in play," as are the assets and income of the debtor. For the debtor, this is probably very bad news. Without knowing a lot more about the facts of the case, it's very hard to say why this might have. If a bankruptcy discharge is vacated, it is no longer operative. This means that the goal you set out to achieve when you filed, a bankruptcy discharge of your debts, has been taken back by the court and those debts remain legally enforceable against you. This could be permanent (if the court discovers that your case contained fraud or bad.
A court will not grant a motion to vacate where the complaining litigant failed to exercise due diligence in securing the evidence in sufficient time to offer it in the original lawsuit. Some jurisdictions do not allow any judgments to be vacated due to newly discovered evidence.
To annul, to render an act void; as to vacate an entry which has been made on a record when the court has been imposed upon by fraud, or taken by surprise. Vacate To annul, set aside, or render void; to surrender possession or occupancy. Cross-references Landlord and Tenant.
Mentioned in? References in periodicals archive? Jagannath Mishra said Nitish Kumar would not vacate the bungalow because the Assembly elections were only six months away. Bihar ex- CMs in tussle over official house.
This is unprecedented: examining the impact of vacated state appellate court opinions. When the YSRCP won recently held Assembly elections and Chief Minister YS Jagan Mohan Reddy came to power, Naidu was served notices to vacate the building citing illegal construction as it was built on the river embankment area of Krishna, below the permissible limits.
AP flood: Notice issued to Chandrababu Naidu to vacate residence. Last Tuesday, August 15, at around p. Sunvar to comply with court's order to vacate Mile Long property. His condition is that Kumar should first vacate his palatial bungalow which was allotted to him in the capacity of former chief minister. Former Bihar chief minister refuses to vacate CM bunglaow.
He wants Nitish to vacate the 7, Circular Road house first. Squatter Manjhi refuses to vacate CM's bungalow. FIA offices, PID office issued notices to vacate federal govt properties KARACHI: More than 7, federal government accommodations are illegally occupied in the financial hub of the country, located in the heart of Karachi and land cost could be worth trillions of rupees.
The federal government has yet to recover around Rs 3. Federal govt's land worth trillion of rupee occupied in Karachi. The Owner Trustee shall have no duty to give such written consent to a Bankruptcy Action by the Trust if the Owner Trustee shall not have been furnished at the expense of the Trust or the Person that requested that such letter be furnished to the Owner Trustee with a letter from an independent accounting firm of national reputation stating that in the opinion of such firm the Trust is then insolvent.
To the extent permitted by applicable law, the consent of the Trust Collateral Agent shall be obtained prior to taking any Bankruptcy Action by the Trust. The parties hereto stipulate and agree that the Certificateholder has no power to commence any Bankruptcy Action on the part of the Trust or to direct the Owner Trustee to take any Bankruptcy Action on the part of the Trust except as provided in Sections 4.
So long as the Indenture remains in effect, no Certificateholder shall have the power to take, and shall not take, any Bankruptcy Action with respect to the Trust or direct the Owner Trustee to take any Bankruptcy Action with respect to the Trust. The Owner Trustee shall have no duty to give such written consent to Bankruptcy Action by the Trust if the Owner Trustee shall not have been furnished at the expense of the Person that requested such letter be furnished to the Owner Trustee a letter from an independent accounting firm of national reputation stating that in the opinion of such firm the Trust is then insolvent.
Definition of Bankruptcy Action Share Email. Sample 1. Sample 2. Sample 3. Based on documents