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Question! Tell me what you think of Debt Subordination!

  • 20-03-2006 12:32PM
    #1
    Font22
    Closed Accounts Posts: 753 ✭✭✭


    Hello people,

    Just getting my head stuck into some debt subordination for the old finals and have a question.

    When the book discusses the disadvantages of turn-over subordination it mentions the junior creditor "proving the debt". Is this referring to the Junior Creditor turning over monies received from the Debtor in the event of a trigger event to the Senior Creditor?

    Thanks for any help!
    Font22


Comments

  • #2
    hullaballoo
    Administrators, Entertainment Moderators, Social & Fun Moderators, Society & Culture Moderators, Paid Member Posts: 18,829 Admin ✭✭✭✭✭hullaballoo


    What the hell are you talking about?


  • #3
    Font22
    Closed Accounts Posts: 753 ✭✭✭Font22


    hullaballoo, I always looked up to you! I thought u were the answers to all of my law questions! Hurry up and get that legal dictionary!


  • #4
    hullaballoo
    Administrators, Entertainment Moderators, Social & Fun Moderators, Society & Culture Moderators, Paid Member Posts: 18,829 Admin ✭✭✭✭✭hullaballoo


    Once you know that honest mistake is a defence, I don't care.


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