Burlingham Associates Inc - Redemption of Security - Bankruptcy / Proposal / Financial Glossary

Bankruptcy / Proposal / Financial Glossary

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Redemption of Security	Subsection 128(3) of the Act, allows the trustee to redeem a security on payment to the secured creditor of the debt or the value of the security as assessed, in the proof of security, by the secured creditor. Before doing so, the trustee will ensure that there is a benefit for the estate.

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