Kentucky For Chapter 11 Cases: The List of Creditors Who Have the 20 Largest Unsecured Claims Against You Who Are Not Insiders (non-individuals) is a document that lists the 20 largest unsecured creditors who have claims against an individual or entity in a Chapter 11 bankruptcy case in Kentucky. This list contains information about the creditors, such as name, address, and amount of the claim. The list is to be used in order to determine which creditors will be included in the Chapter 11 reorganization plan. It is important to note that the creditors listed are those who have unsecured claims, meaning they are not secured by collateral. Other types of creditors, such as secured creditors, are not included in this list.
Kentucky For Chapter 11 Cases: The List of Creditors Who Have the 20 Largest Unsecured Claims Against You Who Are Not Insiders (non-individuals)
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Kentucky
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KY-SKU-0475
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For Chapter 11 Cases: The List of Creditors Who Have the 20 Largest Unsecured Claims Against You Who Are Not Insiders (non-individuals)
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Unsecured creditors are likely to get little or nothing back from the debtor in bankruptcy. Priority claims are a sub-type of unsecured debt that receive special treatment. These claims are usually paid in full even though there is no collateral interest to enforce.
A priority unsecured claim is a claim that is not being held with the use of collateral, but it still is more important than other claim types. Non-dischargeable claims are those that a person still owes after bankruptcy.
The Absolute Priority Rule For unsecured creditors, a Chapter 11 plan is considered fair and equitable if the creditor is paid the value of its claim, or a lesser priority creditor or equity owner does not receive any distribution under the Chapter 11 plan. This is referred to as the ?absolute priority rule.?
Examples of unsecured claims are child support debt, alimony debt, credit card debt, tax debts, and personal loans.
A creditor with an unsecured claim has a promise to pay from the borrower but doesn't have a lien. There are two types of unsecured claims: Priority unsecured claims. These debts aren't dischargeable in bankruptcy, and, if money is available, the claim will get paid before nonpriority unsecured claims.
What Are the Main Differences Between a Chapter 11 and Chapter 13 Bankruptcy? Almost anyone can file for Chapter 11 bankruptcy. This includes individuals, companies, partnerships, joint ventures, and LLCs. The filer doesn't have to meet any debt limits under Chapter 11 rules and there are no limits to file.
Some of the most common types of priority unsecured debt include: Child support. Other domestic support, such as alimony. Certain income taxes, depending on age and whether they were timely filed.
Some of the most common types of unsecured creditors include credit card companies, utilities, landlords, hospitals and doctor's offices, and lenders that issue personal or student loans (though education loans carry a special exception that prevents them from being discharged).