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Structural or contractual arrangements to create ranking of claims.

A Pleading that records the cause of action and particulars of allegations made by a plaintiff/applicant in a proceeding.

A deed that documents an arrangement under which one creditor (the subordinated or junior creditor) agrees not to be paid by a debtor until another creditor of that debtor (the senior creditor) has been paid.

A form of sworn written statement that is provided by statute and that carries penalties for intentional falsehoods.

A written document by which a court orders a person to appear before the court to give evidence or to supply it with certain documentary evidence within that person's possession.

The written demand which a creditor may serve on a company that owes them more than a prescribed amount (currently $2000). If the company fails to pay or give security for the amount (or agrees with the creditor to settle the debt by payment of a lesser sum) within the prescribed time, the company will be deemed unable to pay its debts - this can be grounds for a court to order its winding up.

The substitution of one person for another in respect of a legal claim or demand. The person who is subrogated may sue on the other person's behalf, and acquires the rights, remedies, or securities of the other in relation to the claim. Arises generally in the insurance context where an insurer exercises its rights of subrogation by suing on an insured's behalf.

Also known as a Stay of Proceedings. It is an injunction issued by a court to suspend proceedings either permanently or temporarily until, for example, the occurrence of a condition imposed by the court. Examples of circumstances in which a stay may be ordered are where there is no reasonable cause of action, the proceedings are frivolous, vexatious or are otherwise an abuse of process.

The Contract entered into by the issuer and subscriber of debentures under which funds are drawn down. Many of the provisions found in a Facility Agreement will be contained in the Subscription Agreement including: (a) agreement by the subscriber to subscribe for debentures in accordance with the terms of the Debenture Trust Deed up to the facility commitment; (b) conditions precedent to the subscription; (c) facility terms (interest calculation, charging and payment, principal repayments); (d) representations and warranties; (e) general undertakings/negative covenants; and (f) events of default. Subscription terms may be contained within a Facility Agreement rather than a separate Subscription Agreement.

Rights to replace or be a substitute for another or to interpose or become involved (usually so as to halt or hinder an action).