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Posted by / 17-Feb-2016 01:57

Edge petroleum liquidating trust trustee

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A receiver and manager[1] appointed pursuant to a security document has a primary duty to realise the assets charged by that debenture with a view to liquidating the debt owing to the mortgagee.[2] A receiver's power to sell the charged assets arises from the terms of the debenture pursuant to which he is appointed together with the plenary powers set out in s 420 of the Corporations Law.

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(Southern District of Florida) TOUSA and its affiliates operated as a publicly traded nationwide group of homebuilders under the names, Engle Homes, Newmark Homes, Trophy Homes and others.

To complete the liquidation process, the TOUSA Liquidation Trust was created in 2013 by the entities' confirmed chapter 11 plan.

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Stockholders in the company become unit holders a/k/a beneficiaries of the trust.

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