The Professional
Bankruptcy Dictionary


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M

mail

means first class, postage prepaid.

Rule 9001. General Definitions

margin payment

means, for purposes of the forward contract provisions of this title, payment or deposit of cash, a security or other property, that is commonly known in the forward contract trade as original margin, initial margin, maintenance margin, or variation margin, including mark-to-market payments, or variation payments; and [2]

 Sec. 101. Definitions

margin payment

means payment or deposit of cash, a security, or other property, that is commonly known to the securities trade as original margin, initial margin, maintenance margin, or variation margin, or as a mark-to-market payment, or that secures an obligation of a participant in a securities clearing agency.

Sec. 741. Definitions for this subchapter

marshalling

The doctrine of marshalling> <is an equitable remedy which the bankruptcy court may apply in its discretion. In Oregon, it has been defined as a "basic principle of equity that where a senior creditor has recourse to two funds and a junior creditor has recourse to but one of them, the senior creditor must seek to satisfy itself first out of the fund in which the junior creditor has no interest." Community Bank v. Jones, 278 Or. 647, 678, 566 P.2d 470, 488 (1977)

In order to support a claim for marshalling of assets, the creditor must prove "(1) the existence of two creditors with a common debtor; (2) the existence of two funds belonging to the debtor; (3) the legal right of one creditor to satisfy his demand from either or both of the funds, while the other may resort to only one fund." Id. at 14-15; See also Exchange Bank of Kingstree v. South Carolina Nat'l Bank (In re Dig It, Inc.), 129 B.R. 65 (Bankr.D.S.C. 1991).

mask work

has the meaning given it in section 901(a)(2) of title 17.

Sec. 101. Definitions

matrix

A list of the names and addresses of creditors typically filed with the petition and schedules upon commencement of the bankruptcy case.

may not

is prohibitive, and not permissive.

Sec. 102. Rules of construction

meeting of creditors

A meeting that takes place about 30 days after the commencement of a bankruptcy case. The debtor (s) must attend this meeting, at which creditors may appear and ask questions regarding the debtor's financial affairs and property. 11 U.S.C. § 343. If a husband and wife have filed a joint petition, they both must attend the creditors' meeting. The trustee also will attend this meeting. It is important for the debtor to cooperate with the trustee and to provide any financial records or documents that the trustee requests. The trustee is required to examine the debtor orally at the meeting of creditors to ensure that the debtor is aware of the potential consequences of seeking a discharge in bankruptcy, including the effect on credit history, the ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt. This meeting is also sometimes called the "341" hearing, named after the section of the Bankruptcy Code authorizing it.

Public Information Series of the Bankruptcy Judges Division

motion

a request filed with the bankruptcy clerk setting a court hearing and seeking an order of some kind from the judge

municipality

means political subdivision or public agency or instrumentality of a State.

Sec. 101. Definitions