unclaimed funds
unclaimed funds
Proceeds to creditors who were issued checks that did not clear, which are returned to the trustee. The trustee stops payment on the checks and writes checks to the clerk of the bankruptcy court. The clerk retains proceeds for 5 years and then escheats them to the U.S. Treasury, if unclaimed. (Bernstein's Dictionary of Bankruptcy Terminology)

United Glossary of Bankruptcy Terms 2012.

unclaimed funds
Proceeds to creditors who were issued checks that did not clear, which are returned to the trustee. The trustee stops payment on the checks and writes checks to the clerk of the bankruptcy court. The clerk retains proceeds for 5 years and then escheats them to the U.S. Treasury, if unclaimed.

US Bankruptcy 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

  • Court Funds Office — The Court Funds Office (CFO) provides a banking and investment service for the courts throughout England and Wales, including the High Court. It accounts for money being paid into and out of court and, as directed by the court, look after any… …   Wikipedia

  • Lost, mislaid, and abandoned property — Property law Part of t …   Wikipedia

  • Found Money — A sum of cash or financial account that the holder controls, has forgotten about, then rediscovered. Found money can refer to something as simple as leaving cash in a warm coat and finding it the next season, or a utility deposit that was… …   Investment dictionary

  • Skokiaan — Infobox Single Name = Skokiaan Cover size = Border = Caption = Artist = The African Dance Band of the Cold Storage Commission of Southern Rhodesia Album = A side = Skokiaan B side = In the Mood Released = Format = Recorded = 1947 Genre = Tsaba… …   Wikipedia

  • Rensselaer Technology Park — The Rensselaer Technology Park is a technology park in North Greenbush, New York, USA operated by Rensselaer Polytechnic Institute. As of 2009 the park has over 70 tenants representing a diverse range of technologies and employing over 2,400.[1]… …   Wikipedia

  • OUF — Office of Unclaimed Funds (Governmental » US Government) * Other Users Factor (Internet) * Other Users Factor (Computing » Networking) …   Abbreviations dictionary

  • SEBI Act 1992 — The Securities and Exchange Board of India Act, 1992 (the SEBI Act) was amended in the years 1995, 1999 and 2002 to meet the requirements of changing needs of the securities market and responding to the development in the securities market. Based …   Wikipedia

  • National Lottery (United Kingdom) — The National Lottery Region United Kingdom and Isle of Man Launched 1994 Operator Camelot Group …   Wikipedia

  • Swiss Banks —    Following the Nazi “seizure of power” in Germany in January 1933, Jews who feared the worst from the new government attempted to protect their assets by placing funds in Swiss banks. This precaution against an uncertain future was encouraged… …   Historical dictionary of the Holocaust

  • Claims Conference — The Conference on Jewish Material Claims Against Germany, or Claims Conference, represents world Jewry in negotiating for compensation and restitution for victims of Nazi persecution and their heirs. The Claims Conference administers compensation …   Wikipedia

Share the article and excerpts

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