rule of marshaling assets

rule of marshaling assets. An equitable doctrine that requires a senior creditor, having two or more funds to satisfy its debt, to first dispose of the fund not available to a junior creditor. • It prevents the inequity that would result if the senior creditor could choose to satisfy its debt out of the only fund available to the junior creditor and thereby exclude the junior creditor from any satisfaction. — Also termed marshaling doctrine; rule of marshaling securities; rule of marshaling remedies. [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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法律翻译Jenna,欧洲顶尖商学院国际经济法专业,专注翻译各类与投资基金和私募股权有关的法律文件。
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