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Moddle Corporation is being liquidated under Chapter 7 of the Bankruptcy Act. The trustee has determined that the unsecured claims will receive $.20 on the dollar. National Corporation holds a $500,000 mortgage note receivable from Moddle that is secured by equipment with a $550,000 book value and a $430,000 fair value.
Antique Japanese Sword
A traditional and historical Japanese sword, such as a katana, that is of significant age, valued for its craftsmanship and historical importance.
Fencing Foil
A lightweight sword used in the sport of fencing, characterized by its flexible, rectangular blade and a blunted or covered tip to prevent injury.
Material Alteration
A significant change to a document that affects its legal meaning or effect, often rendering it void if done without consent from all parties involved.
Further Payment
Additional money required to be paid beyond what has already been agreed upon or expected.
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