Priority of expenses and unsecured claims.

CFR · 2024-01-01 · US · Title 12

(a) (1) Administrative expenses of the receiver (or an immediately preceding conservator). (2) Any other general or senior liability of the regulated entity (that is not a liability described under paragraph (a)(3) or (a)(4) of this section). (3) Any obligation subordinated to general creditors (that is not an obligation described under paragraph (a)(4) of this section). (4) Any claim by current or former shareholders or members arising as a result of their current or former status as shareholders or members, including, without limitation, any securities litigation claim. Within this priority level, the receiver shall recognize the priorities of shareholder claims (b) (1) The Director determines that such action is necessary to maximize the value of the assets of the regulated entity, to maximize the present value return from the sale or other disposition of the assets of the regulated entity, or to minimize the amount of any loss realized upon the sale or other disposition of the assets of the regulated entity; and (2) All claimants that are similarly situated under paragraph (a) of this section receive not less than the amount such claimants would have received if the receiver liquidated the assets and liabilities of the regulated entity in receivership and such action had not been taken. (c)

official document · source cfr-2024 · id 12:§ 1237.9