(d) Secured creditor means a creditor that has a security right.

Furthermore, consideration should be given to expanding the number of eligible countries as well as creditor institutions

The report concludes with a number of recommendations directed at both debtor States and creditor States and institutions.

Why not creditor rights?

Creditor Governments have also taken a number of steps to assist severely indebted poorest countries, including substantial reduction of payment obligations.

But China is a net creditor.

(ii) A creditor of the assignor or

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

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

As an immature creditor lender, the trade balance and current account are in surplus as well as a mature creditor lender, the trade balance returns to deficit finally, as a creditor borrower, the country s current account swings into deficit.

In every currency union, there are creditor and debtor regions.

This will perpetuate the division between creditor and debtor countries.

Rights and obligations of the grantor and the secured creditor

Moreover, most creditor Governments had difficulty in recommending debt forgiveness.

Without fundamental changes in its economic growth pattern, it is difficult to imagine how China can become an immature creditor lender and a mature creditor lender.

Japan is a net creditor and largely finances its debt domestically.

As the strongest creditor country, Germany has emerged as the hegemon.

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.

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

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.

Risk premiums widened, and the eurozone was divided into creditor and debtor countries.

Japan also became the world s largest creditor and largest donor of foreign aid.

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.

Net contributors would be locked into a relationship with the markets a convincing creditor.

By contrast, the ratio in Germany, Europe s largest creditor, is only 3.5 to one.

Reflecting the divergence in economic performance, Europe became divided into creditor and debtor countries.

Creditor developed countries should adopt the Trinidad and Tobago terms for low income countries.

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.

In the later stages, the country becomes a net creditor, running an investment income surplus.

The first party is the creditor, which is the lender of property, service or money.

The role of creditor committees is to be determined on a case by case basis

Another concern is the potential ability of a secured creditor to exercise influence over a business, to the extent that the creditor may seize, or threaten seizure of, the encumbered assets of that business upon default.

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.

The latter negotiate a menu of options for creditor banks on a country by country basis.

Positive trends in that area were indisputably linked to greater cooperation between debtor and creditor countries.

(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.

Two recommendations dealt with creditor participation in reorganization proceedings (a) to limit the number of creditor committees to a single committee, except in extraordinary circumstances and (b) in smaller reorganization cases where creditors might have little interest in forming a committee, to provide for the appointment of a creditors' representative to monitor the case and negotiate a reorganization plan on behalf of unsecured creditors.

(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).

(a) The names (or other reliable identifiers) of the grantor and the secured creditor, and their addresses

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

That was said to enhance certainty for the secured creditor with respect to the law applicable to the most important matter for which the security right was created, i.e. the protection of the secured creditor in the case of default.

His country welcomed the initiatives taken by certain creditor countries with a view to reducing or writing off the debt of the least developed countries and of low and middle income countries, and other creditor countries should consider analogous measures.