Introduction to Debtors’ & Creditors’ Rights; Judicial Collection – Introduction, Execution © Charles Tabb 2016.

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Presentation transcript:

Introduction to Debtors’ & Creditors’ Rights; Judicial Collection – Introduction, Execution © Charles Tabb 2016

Money – or more accurately, the lack thereof Our topic Money – or more accurately, the lack thereof And what happens then in the world of debtors and creditors © 2016 Charles Tabb. All rights reserved.

What do CREDITORS have to worry about? Creditor worries? What do CREDITORS have to worry about? How will they get paid the money they are owed?? © 2016 Charles Tabb. All rights reserved.

1st issue: Creditor vs Debtor How can this Creditor collect from this Debtor? © 2016 Charles Tabb. All rights reserved.

Like an arm-wrestling match: Cr v Dr A 2-party issue only Like an arm-wrestling match: Cr v Dr No one else involved © 2016 Charles Tabb. All rights reserved.

Problems? No money – cupboards are bare If the Debtor is broke, they’re broke, and you aren’t going to collect You can’t eat a decent meal out of this cupboard © 2016 Charles Tabb. All rights reserved.

Sneaky debtor Or the debtor might have money, but they won’t give it up without a fight © 2016 Charles Tabb. All rights reserved.

2nd issue: Priority fights Not just Cr v Dr Creditor has to compete with other claimants for Debtor’s insufficient assets – other creditors, purchasers Someone may get left out! © 2016 Charles Tabb. All rights reserved.

What do Debtors worry about? Do they have enough money to pay their debts? Will they have any $ left? © 2016 Charles Tabb. All rights reserved.

Will they be able to get credit in the future? Debtor worries Will they be able to get credit in the future? © 2016 Charles Tabb. All rights reserved.

The full set of PowerPoint slides is available upon adoption The full set of PowerPoint slides is available upon adoption. Email bhall@cap-press.com for more information. © 2016 Charles Tabb. All rights reserved.