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Path: utzoo!utcsrgv!dave
From: dave@utcsrgv.UUCP (Dave Sherman)
Newsgroups: net.legal
Subject: Re: "Unintentional" creditors in business bankrupcies
Message-ID: <2978@utcsrgv.UUCP>
Date: Mon, 19-Dec-83 23:31:11 EST
Article-I.D.: utcsrgv.2978
Posted: Mon Dec 19 23:31:11 1983
Date-Received: Mon, 19-Dec-83 23:43:31 EST
References: <568@dciem.UUCP>
Organization: The Law Society of Upper Canada, Toronto
Lines: 14

From: ntt@dciem.UUCP (Mark Brader):
-- These are, I suppose, to be distinguished from people who deal with
-- a business expecting it to become bankrupt and themselves to become
-- creditors...


That's why secured creditors take security. The point is that certain
creditors are in a position to expect to become creditors of a bankrupt,
and they can protect themselves with various kinds of security - an option
not usually available to the consumer.

Dave Sherman
-- 
 {allegra,cornell,decvax,ihnp4,linus,utzoo}!utcsrgv!dave