fair and equitable

fair and equitable
A term of art, developed in corporate reorganizations in equity receiverships and applied as well in reorganizations under the Bankruptcy Act and other statutes, to characterize the necessity, in formulating and adopting plans of reorganization, of according to creditors and classes of creditors the priorities to which they are entitled by contract and to stockholders of one class the superior position to which they are entitled by the charter of the corporation over stockholders of another class. Securities & Exchange Com. v United States Realty & Improv. Co. 310 US 434, 84 L Ed 1293, 60 S Ct 1044; Otis & Co. v Securities & Exch. Com. 323 US 624, 89 L Ed 511, 65 S Ct 483.

Ballentine's law dictionary. . 1998.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • Fair-and-equitable test — A set of requirements for a plan of reorganization to be approved by the bankruptcy court. The New York Times Financial Glossary …   Financial and business terms

  • fair-and-equitable test — A set of requirements for a plan of reorganization to be approved by the bankruptcy court. Bloomberg Financial Dictionary …   Financial and business terms

  • equitable — eq·ui·ta·ble / e kwi tə bəl/ adj 1: having or exhibiting equity: dealing fairly and equally shall allocate...appropriations in an equitable manner U.S. Code 2: existing or valid in equity or as a matter of equity as distinguished from law an… …   Law dictionary

  • fair — adj 1: characterized by honesty and justice: free from self interest, deception, injustice, or favoritism a fair and impartial tribunal 2: reasonable as a basis for exchange a fair wage a fair valuation 3: consistent with merit or importance …   Law dictionary

  • Fair Credit Reporting Act — ( FCRA) Consumer protection legislation enacted in 1968 as part of the Consumer Credit Protection Act to ensure that the banking system in the United States would have a reliable credit reporting system. The stated purpose of the Fair Credit… …   Financial and business terms

  • fair — ▪ I. fair fair 1 [feə ǁ fer] adjective a situation or arrangement which is fair is reasonable, honest, and acceptable: • The committee takes seriously the need to be fair and just in everything it does. • fair voting procedures • All we are… …   Financial and business terms

  • Fair Credit Reporting Acts — Federal Act. This law represents the first Federal regulation of the vast consumer reporting industry, covering all credit bureaus, investigative reporting companies, detective and collection agencies, lenders exchanges, and computerized… …   Black's law dictionary

  • Fair Credit Reporting Acts — Federal Act. This law represents the first Federal regulation of the vast consumer reporting industry, covering all credit bureaus, investigative reporting companies, detective and collection agencies, lenders exchanges, and computerized… …   Black's law dictionary

  • fair — adj 1 comely, lovely, *beautiful, pretty, bonny, handsome, beauteous, pulchritudinous, good looking Analogous words: delicate, dainty, exquisite (see CHOICE): charming, attractive, enchanting (see under ATTRACT): pure, *chaste Antonyms: foul: ill …   New Dictionary of Synonyms

  • Fair — (f[^a]r), a. [Compar. {Fairer}; superl. {Fairest}.] [OE. fair, fayer, fager, AS. f[ae]ger; akin to OS. & OHG. fagar, Icel. fagr, Sw. fager, Dan. faver, Goth. fagrs fit, also to E. fay, G. f[ u]gen, to fit. fegen to sweep, cleanse, and prob. also… …   The Collaborative International Dictionary of English

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”