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

译者David，毕业于亚洲顶尖的高级翻译学院，擅长翻译各种与复杂商业诉讼相关的法律文件。