The contention of creditors and its impact on the distribution of the proceeds of the implementation

Abstract

The adequacy of the debtor's funds when distributed to creditors does not raise any problem, but the situation changes when they are not sufficient and the creditors contend to fulfill their rights, which raises their rank between a regular creditor and a secured creditor. When there are multiple owners of collateral between a mortgagee's creditor, an excellent creditor and a creditor with a right of competence. The holders of the right of priority are given to the ordinary creditors, and therefore the concessionaires apply to other creditors and the concessionaires apply to the public concessionaires. And then the holder of the right of jurisdiction over others after the owners of the concession, and then progress creditors dependent on other creditors. Substantive priority holders shall have priority over procedural priority unless the priority of procedural precedence prevails in substantive priority. Procedural priority holders apply to ordinary creditors.