By establishing a liquidating trust pursuant to section 1123(b)(3) in a confirmed plan of reorganization or liquidation, a debtor can transfer causes of action and other assets to a trust, for future liquidation and distribution to the debtor’s creditors, and avoid delaying plan confirmation.The creditors become the trust beneficiaries and their claims are paid from trust assets by a waterfall established pursuant to the plan.
sell, grant a security interest in or transfer reproductions of the Software to other parties in any way not expressly authorized herein, or rent, lease or license the Software コピー、コピーは複製、翻訳、リバースエンジニアリング、逆からソースコードを取得、変更、逆アセンブル、 逆コンパイル、または本ソフトウェアに基づいた派生物を作成すること、あなたは1（1を加える可能性がある こと、しかし、提供ソフトウェアクライアントやアーカイブの目的のみのためにマニュアルの）コピー、B.他 人に売却、担保権を付与したり、本明細書に明示的に許可されていないどのような方法で他者に本ソフトウェア の複製物を譲渡し 、ま た は 貸与、 リ ー ス また はライセンスソフトウェア。 court may, upon petition, permit the obligee effecting a seizure (excluding an obligee effecting a seizure who filed a petition for a compulsory auction or an auction after the time limit for a demand for liquidating distribution) to perform such unpaid rent in place of the obligor.
Wallace was a professional basketball player associated with the National Basketball Association from June 1996 through May 2004. Wallace has been an alumni relations and fan development representative for the New York Knicks. Wallace works on community public relations and fan development initiatives, along with sponsorship and marketing programs. Wallace joined Hotaling Insurance Group as an insurance agent. Wallace became an Executive Board Member of Heavenly Productions Foundation, a not for profit charitable organization dedicated to helping children in need or in distress. Wallace has served as Vice President of Winning Because I Tried, a non-profit he co-founded in 2007, and whose focus is on academic success, social interaction, peer pressure awareness, and sound decision-making for children ages 8-18. Wallace has been President and General Manager of Rochester AAU Basketball, a program he founded in March 2006, which was designed to leverage sports as a means for youth to obtain a college education. Wallace brings effective management and leadership skills to the Board of Directors. Wallace provides ongoing assistance in the development and maintenance of the Company’s operating plan.
John Wallace graduated from Syracuse University in May 1996 with a Bachelor’s of Science in Sociology.
Liquidating trusts can be effective tools to wind down any business enterprise, including debtors in Chapter 11 bankruptcy cases and entities that dissolve outside of bankruptcy. To that end, in a Chapter 11 case, a debtor’s exclusive right to file a plan is limited to 120 days (subject to extensions for cause), but once a plan is confirmed, the bankruptcy estate ceases to exist and the debtor loses its status as debtor in possession, including its authority to act as a bankruptcy trustee and pursue estate claims.
Norton Liquidating trusts are organized for the primary purpose of liquidating assets transferred to them for distribution to trust beneficiaries. The US Bankruptcy Code seeks to promote the effective administration and settlement of a debtor’s assets and liabilities within a limited frame of time.