(g) Security agreement means an agreement between a grantor and a creditor, in whatever form or terminology, that creates a security right.

The law should also permit discharge of a registration by agreement of the secured creditor and the grantor.

The creditor debtor split was thrown into sharp relief this summer, during the negotiations over Greece s third bailout agreement. Germany, the leading proponent of austerity and the most influential creditor, was accused of insufficient flexibility and solidarity

As part of the agreement, creditor banks promised to maintain trade finance for Indonesian firms at levels existing as of end April 1998.

Any such agreement does not affect the relationship between the issuer guarantor or nominated person paying the proceeds and the beneficiary (the secured creditor).

A temporary agreement was reached with some creditor banks on 28 December 1997 to roll over some short term loans, and then on 28 January 1998 a broad agreement was reached with a group of 13 major international creditor banks on a plan to extend the maturities of approximately 24 billion in short term loans (excluding trade credit) into longer term loans.

(ii) A creditor of the assignor or

One approach is for the valuation, at least in the first instance, to be determined through agreement by the parties (being the debtor, or insolvency representative, and the secured creditor).

In the insolvency of a non grantor debtor, the creditor is an unsecured creditor with an unsecured claim against the non grantor debtor.

The law should provide that the security agreement must, at a minimum, identify the secured creditor and the grantor, and reasonably describe the secured obligation and the assets to be encumbered.

It may be that, as between the grantor and the secured creditor, the secured creditor has agreed to treat the proceeds as encumbered assets.

Rights and obligations of the grantor and the secured creditor

(a) The title of a creditor who retains title to goods to secure payment of the purchase price of the goods or its economic equivalent under a financial lease or hire purchase agreement and

It attached special importance to its participation in the work of the Paris Club, which it had recently joined, and to the agreement it had just concluded with the London Club of creditor banks.

To the extent that the value of the encumbered asset is insufficient to satisfy the secured creditor's claim, the secured creditor may participate as an ordinary unsecured creditor.

Welcoming also the actions taken by creditor countries within the framework of the Paris Club and by some creditor countries through the cancellation of bilateral debts, and urging all creditor countries to participate in efforts to remedy the external debt and debt servicing problems of developing countries,

Welcoming also the actions taken by creditor countries within the framework of the Paris Club and by some creditor countries through the cancellation of bilateral debts, and urging all creditor countries to participate in efforts to remedy the external debt and debt servicing problems of developing countries,

A security right will also have little or no value to a creditor unless the creditor is able to enforce the security right in a predictable and efficient manner.

If the secured creditor and the depositary institution are the same person, the law should provide that the secured creditor automatically has control upon the creation of the security right.

Collateral law reform, as mentioned previously, should also help enhance creditor rights.

Since you're tolerant and you'll be my creditor, grant us this virgin.

Under the third method of obtaining control, as between the issuer guarantor or nominated person paying the proceeds and the secured creditor, the secured creditor is the beneficiary of the independent undertaking.

The law should provide that a secured creditor with a security right that is not effective against third parties has towards third parties no right other than as an unsecured creditor priority over unsecured creditors unless the unsecured creditor has taken steps to reduce its claim to a judgement or the grantor has become insolvent .

A supplementary memorandum to the 15 January 1998 agreement with IMF was finally reached on 10 April 1998, by which time the framework for agreement on a restructuring of the debt had been largely agreed between an Indonesian negotiating team and the creditor bank steering committee, with input from IMF and the World Bank.

The draft Principles benchmark the effectiveness of insolvency and creditor rights systems and offer guidance to policymakers on the policy choices required to establish or strengthen a functional system for healthy debtor creditor relations.

Since, at the time of eventual distribution, the extent to which the secured creditor will receive priority will be limited by the value of the encumbered asset, that depreciation can prejudice the secured creditor.

The law should provide that, unless the parties otherwise agree, a security right becomes effective as between the parties at the time the security agreement is concluded or at the time the encumbered assets are delivered to the secured creditor.

26. The Russian Federation joined the Paris Club as a creditor country in 1997.

The leaders welcome the decision by Iraq's creditor States to reduce Iraq's indebtedness to them by 80 , and they urge Arab creditor States to act without delay to forgive or reduce Iraq's indebtedness to them.

The law should provide that the mutual rights and obligations of the grantor and the secured creditor with respect to the security right, whether arising from the security agreement or by law, are governed by the law chosen by them and, in the absence of a choice of law, by the law governing the security agreement.

It was noted, in that connection, that it would be in the foreign creditor apos s own interest to obtain a translation of the notification and that in most cases a diligent creditor would do so.

(a) The existing secured creditor was given the opportunity to be heard by the court

(ii) Possessory security right means a security right in tangibles that are in the actual possession of the secured creditor or of another person (other than the debtor or other grantor) holding the asset for the secured creditor.

Let the creditor seize all that he has. Let strangers plunder the fruit of his labor.

Let the creditor seize all that he has. Let strangers plunder the fruit of his labor.

Forgiving the disproportionate debt that continues to cripple developing economies will not make creditor countries poor.

(b) To mobilize necessary finance (often with the support of and contributions from major creditor countries).

The Board also noted that those adjustments were done without matching the individual debtor creditor records.

(jj) Non possessory security right means a security right in (i) tangibles that are not in the actual possession of the secured creditor or another person holding the tangibles for the benefit of the secured creditor, or (ii) intangibles.

A security right will have little or no value to a creditor unless the creditor is able to ascertain, at the time a transaction takes place, its priority in the property relative to other creditors (including an insolvency representative).

The law should specify that a security right is created by agreement between the grantor and the secured creditor which is in writing signed by the grantor in accordance with recommendation 12 that evidences the intent of the grantor to grant a security right or is accompanied by delivery of possession pursuant to the agreement and in accordance with recommendation 9.

Orthodoxy has always upheld the sacred rights of the creditor political necessity has frequently demanded relief for the debtor. Which side wins in any situation depends on the extent of debtor distress and the strength of the opposing creditor debtor coalitions.

The World Bank staff have produced draft Principles and Guidelines for Effective Insolvency and Creditor Rights Systems.

The notification shall provide a reasonable minimum time within which such a creditor can file a claim.

47. A complementary proposal would further encourage creditor cooperation in restructuring the debt due in such circumstances.