The best Side of 542 cash

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The licensee retains its possession desire from the property which is entitled to any surplus immediately after creditors are compensated. That fascination is "home of the estate" below section 541(a) in the Code

In fact, the legislative record of portion 543 supports the summary the expression "custodian" involves prepetition liquidators who keep title to the debtor's belongings.

[a] custodian with knowledge of the commencement of a circumstance below this title regarding the debtor may well not make any disbursement from, or choose any motion inside the administration of, residence from the debtor, proceeds of these property, or house on the estate, in the possession, custody, or control of this sort of custodian, other than this sort of motion as is essential to maintain this kind of home.

[M]issouri's grain legislation, Despite the fact that regulatory in nature, principally relate for the defense on the pecuniary fascination inside the debtors' home rather than to matters of public protection and wellbeing.

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The district court docket's strategy wasn't inappropriate. The more detailed the liquidation plan, the more powerful the sign which the state sees a powerful community desire in immediate governmental supervision and control of the liquidation or dissolution of your institution. Soon after evaluating and contrasting the liquidation strategies provided for these establishments by point out legislation,10 we concur With all the district courtroom's evaluation that the Illinois legislature didn't perspective currency exchanges because the significant equivalents of the other entities.

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(one) A meter that demonstrates the quantity of the progressive jackpot shall be conspicuously shown at or near the machines to which the jackpot applies. (two) A minimum of the moment day after day, Each and every gaming operation shall document the amount revealed on Just about every progressive jackpot meter for the gaming operation aside from People jackpots which can be paid straight from the equipment's hopper; (3) Explanations for meter reading through decreases shall be maintained with the progressive meter examining sheets, and the place the payment of a jackpot here is definitely the clarification to get a lessen, the gaming Procedure shall report the jackpot payout selection on the sheet or hold the range moderately offered; and (4) Every single gaming operation shall report the base level of Every progressive jackpot the gaming operation offers.

Immediately after submitting the chapter 11 petitions, the exchanges sought through the personal bankruptcy courtroom an purchase requiring the Director's receiver to turn more than the exchanges' house to your bankruptcy trustee. The exchanges' application was addressed with the individual bankruptcy court docket as being a complaint initiating an adversary proceeding. The Director sought and was granted leave to intervene during the adversary turnover proceedings as well as the chapter eleven proceedings.

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