Tennessee Code 56-9-332 – Payment of distributions by liquidator
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Terms Used In Tennessee Code 56-9-332
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Creditor: is a person having any claim, whether matured or unmatured, liquidated or unliquidated, secured or unsecured, absolute, fixed or contingent. See Tennessee Code 56-9-103
Under the direction of the court, the liquidator shall pay distributions in a manner that will assure the proper recognition of priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and undetermined claims, including third party claims. Distribution of assets in kind may be made at valuations set by agreement between the liquidator and the creditor and approved by the court.