marshaling doctrine

marshaling doctrine. The principle that, when a senior creditor has recourse to two or more funds to satisfy its debt, and a junior creditor has recourse to only one fund to satisfy its debt, the senior creditor must satisfy its debt out of the funds in which the junior creditor has no interest. See RULE OF MARSHALING ASSETS . [Cases: Debtor and Creditor 13. C.J.S. Assignments for Benefit of Creditors § 27; Creditor and Debtor §§ 110–112, 114, 118–119.]

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词条贡献者

双语律师Jerry，毕业于一所培养最顶级翻译人才的语言学院，擅长翻译各类与欧洲隐私及安全法相关的法律文件。