Assertion: bankruptcy's creditor | /r/HasProperty | paid
Facets:
value: out of bankruptcy funds
type: OTHER
Source sentences:
text: For instance the claims of suppliers of products or employees of a company may be paid before other unsecured creditors are paid.
text: Remember that just filing a proof of claim does not guarantee a creditor will be paid.
text: Financial institutions, in order to fully realize on secured obligations of a debtor, will normally require guarantors to execute a "Guarantee and Postponement of Claim", which prevents the guarantor from filing a claim against the estate until the secured creditor has been paid in full.
text: If you have assets, money from the sale of these will be used to pay the costs of the bankruptcy process before creditors are paid.
text: But, in the unlikely event that creditors are paid in full, stockholders will be notified and given an opportunity to file claims.
text: Exactly how this happens, and in which order creditors are paid, will depend on your unique circumstances.
text: After your assets are liquidated and creditors are paid, you receive a court judgment that releases you from responsibility for repaying the remainder of the debt.
text: All creditors who wish to be paid out of bankruptcy funds must file a proof of claim.
text: After your creditors are paid and your eligible debts are discharged, you’re no longer responsible for repaying your debts (as long as they’re included in the discharge).