TRUST-FUND DOCTRINE

trust fund doctrine

glossary /

trust-fund doctrine. The principle that the assets of an insolvent company, including paid and unpaid subscriptions to the capital stock, are held as a trust fund to which the company’s creditors may look for payment of their claims. • The creditors may follow the property constituting this fund, and may use it to reduce the […]

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trust fund doctrine

glossary / ,

trust fund doctrine 信托基金规则 公司的财产首先应用作偿还债务的基金。若其资产全部转让给他人，并告以公司收歇，再无余款可供偿债，则受让人就受让财产应对公司原有债务承担清偿责任，即衡平法上的保证。据此规则，若破产公司的资产在未偿还债务之前已在股东之间进行了分配，则每一股东依其所获金额对债权人负有偿债义务。 (→common trust fund)

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