Glossary

List of glossary items

Displaying 1 - 4 of 4.
A (26) | B (11) | C (40) | D (19) | E (9) | F (9) | G (3) | H (3) | I (18) | L (4) | M (5) | N (5) | O (10) | P (39) | Q (1) | R (16) | S (21) | T (6) | U (4) | V (6) | W (1)
  • A transaction where less than market price has been paid for an asset in consideration of a transfer in ownership of the asset. A trustee has the ability to recover the asset or difference in purchase price paid if certain criteria set out in the Bankruptcy Act 1966 are satisfied.

  • A person who is bankrupt. (That is, someone who became bankrupt and whose bankruptcy has not yet ended.) Bankrupts have various obligations and various restrictions upon their conduct.

  • A creditor whose debt does not have security attached to it.

  • A loan that is not tied to any asset e.g. credit cards.