ASSIGNMENT FOR THE BENEFIT OF CREDITORS

assignment for the benefit of creditors

glossary /

assignment for the benefit of creditors. Assignment of a debtor’s property to another person in trust so as to consolidate and liquidate the debtor’s assets for payment to creditors, any surplus being returned to the debtor. • This procedure serves as a state-law substitute for federal bankruptcy proceedings. The debtor is not discharged from unpaid […]

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assignment for the benefit of creditors

glossary / ,

assignment for the benefit of creditors 为债权人利益之转让 是一种概括性让与，指将债务人的全部或大体上的财产都托付给他人，由其催收外人所欠债务人的款项，出售债务人财产，将收益分配给债务人的债权人，并将偿债余额返还给债务人。美国1898年《破产法》〔Bankruptcy Act〕称破产4月内所为的这种转让是「破产行为」〔act of bankruptcy〕。 (→preferential assignment)

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