equity to marshal assets

equity to marshal assets
The equity to marshal the assets, securities and funds of a debtor is the right of a creditor who has a junior lien on or interest in only a part of the assets, securities, or funds of the debtor to have a creditor who has a prior lien on or interest in the same assets, securities or funds, before resorting to the assets, securities and funds thus charged, to exhaust other assets, securities or funds of the debtor on which the prior creditor has a lien or in which he has an interest, but on which or in which the junior creditor has no lien or interest. 35 Am J1st Marsh A § 2.

Ballentine's law dictionary. . 1998.

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