What is the meaning of super priority?
What is the meaning of super priority?
In United States bankruptcy law, the term superpriority confers the status of a claim being superior to that of other claims. Ultrapriority (summapriority) claims will take precedence over superpriority claims. Superpriority claims can be either secured or unsecured.
What is super priority financing?
Super-priority for rescue financing that the debt be accorded priority over all preferential debts and all other unsecured debts; that the debt be secured by a security interest on property of the company that is unsecured or by a subordinate security interest on property of the company that is already secured; or.
What is rescue financing?
rescue financing means financing provided to the Company or any of its Subsidiaries, which financing is reasonably required to (i) remedy a breach or default (or potential breach or default) by the Company or any of its Subsidiaries under any debt financing agreements to which the Company or any of its Subsidiaries are …
What is a roll up restructuring?
A roll-up entails applying all or a portion of the rescue financing proceeds towards paying off debt owed to the rescue lender, thereby upgrading the pre-existing debt into super priority debt.
What is a DIP lender?
Debtor-in-possession (DIP) financing is financing for firms in Chapter 11 bankruptcy that allows them to continue operating. The lenders of DIP financing take a senior position on liens of the firm’s assets, ahead of previous lenders.
What is considered distressed debt?
Distressed debt refers to bonds bought from companies that are either in bankruptcy or on the verge of it. Some investors specialize in buying distressed debt, with the intention of gaining control of the company once it does enter bankruptcy.
What is prepetition?
Filters. (law) Of a claim, event, or condition existing prior to a bankruptcy petition. adjective.
What is the cost of super priority visa for UK?
To get a decision by the end of the next working day If you’re eligible you can choose the ‘super priority service’ when you apply. It costs £800 in addition to the application fee.
