Examlex
Owners of preference shares are not guaranteed any dividend payments and have the lowest-priority claim on the company's assets in the event of insolvency.
Secured Party's Remedies
Legal actions or measures available to a secured party to enforce rights against a debtor in case of default.
Debtor Defaults
A situation where a debtor is unable to meet the legal obligation of debt repayment.
After-Acquired Property
Property acquired by a debtor after the execution of a security agreement, which may still be subject to claims by secured creditors under certain agreements.
Secured Perfected Creditor
This term relates to a creditor who has taken the necessary legal steps to secure a lien against a debtor's property, ensuring a strong claim to the property in the event of default.
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