Redemption of Security: Canada Debt .ca defines Redemption of Security

Bankruptcy Term Redemption of Security

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Canada Debt has the definition to the bankruptcy and debt term Redemption of Security. Finding answers to terms such as Redemption of Security can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Redemption of Security in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Redemption of Security' is used as follows:

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.