Debtor

China s Bad Debtor

Principle of debtor protection

Notification of the debtor

The Debtor Prisoner s Dilemma

Right to notify the debtor

Reining in Europe s Debtor Nations

Principle of account debtor protection

Notification of the account debtor

A debtor, I take it. Yep.

2. The debtor may not waive defences

Discharge of the account debtor by payment

2. The debtor may raise against the assignee any other right of set off, provided that it was available to the debtor at the time notification of the assignment was received by the debtor.

(b) The account debtor may not waive defences

It should be comprehensive for all debtor countries.

As an immature debtor borrower, its trade balance and current account are also in deficit as a mature debtor borrower, its trade balance enters surplus and, as a debtor repayer, its current account moves to surplus.

(b) The account debtor may raise against the assignee any other right of set off, provided that it was available to the account debtor at the time notification of the assignment was received by the account debtor

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

Defences and rights of set off of the debtor

1. Until the debtor receives notification of the assignment, the debtor is entitled to be discharged by paying in accordance with the original contract.

In those cases where there are no unencumbered assets, or no excess value in already encumbered assets, that the debtor can offer as security or with which the debtor can satisfy an administrative expense priority claim, the debtor has limited options.

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

This will perpetuate the division between creditor and debtor countries.

Creditors obviously support bailing out debtor countries to protect themselves.

The second party is frequently called a debtor or borrower.

Defences and rights of set off of the account debtor

(a) Commencement or continuation of individual actions or proceedings concerning the assets of the debtor, and the rights, obligations or liabilities of the debtor are stayed

Debtor countries pay substantial risk premiums for financing their government debt.

Dividing debtor countries into sub categories would hamper debt reduction initiatives.

(b) Assets of the debtor property, rights and interests of the debtor, including rights and interests in property, whether or not in the possession of the debtor, tangible or intangible, movable or immovable, including the debtor's interests in encumbered assets or in third party owned assets

1 11 and recommendation 8). Where the security right at issue (which secures the debtor's obligation) is granted by the debtor, the term debtor also refers to the grantor.

(t) Account debtor means a person liable for payment of a receivable.

5. If the debtor receives notification of one or more subsequent assignments, the debtor is discharged by paying in accordance with the notification of the last of such subsequent assignments.

The law governing the original contract determines the effectiveness of contractual limitations on assignment as between the assignee and the debtor, the relationship between the assignee and the debtor, the conditions under which the assignment can be invoked against the debtor and whether the debtor's obligations have been discharged.

Failure of the assignor to perform the original contract does not entitle the debtor to recover from the assignee a sum paid by the debtor to the assignor or the assignee.

That approach should emerge from a dialogue among debtor countries, creditor countries, commercial banks and multilateral financial institutions and should cover all types of debt and all categories of debtor countries.

Law applicable to the rights and obligations of the assignee and the debtor

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

Debtor country governments have also bought back their debt on the secondary market.

This is an issue already raised by some government officials from debtor countries.

4. If the debtor receives notification of more than one assignment of the same receivable made by the same assignor, the debtor is discharged by paying in accordance with the first notification received.

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

Balance of rights between the debtor and insolvency representative (paras. 50 and 70 73)

Leaving debtor countries in their current situation would help neither them nor their creditors.

According to Secretariat data, Belarus was one of the seven debtor countries vis à vis the regular budget and one of the nine debtor countries vis à vis the financing of peace keeping operations.