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Definitions. In this code: (1) “Affiliate” means a person who controls, is controlled by, or is under common control with another person. (2) “Associate,” when used to indicate a relationship with a person, means: (A) a domestic or foreign entity or organization for which the person: (i) is an officer or governing person; or. (ii)
An affiliate is also an entity whose business or substantially all of whose property is operated under a lease or operating agreement by a debtor or an entity that operates the business or substantially all of the property of the debtor under a lease or operating agreement (§ 101(2), Bankruptcy Code).
Texas authorities that Texas law confirm embraces that broad definition of “affiliate.” The Texas Business Organizations Code, which GTL accurately describes as “the state’s central repository of corporate law,” defines “affiliate” as “a person who controls, is controlled by, or is under common control with another person.”
6 Μαρ 2024 · What Is an Affiliate? An affiliate is an entity linked to another through ownership or control. This relationship is characterized by a degree of influence, where one entity can significantly impact the policies and practices of the other.
The American Bankruptcy Institute appointed the Commission to Study the Reform of Chapter 11 in 2012. Its recent report has helpfully stirred debate on many important aspects of the United States Bankruptcy Code (the “Code”), including the
An issuing public corporation may not, directly or indirectly, enter into or engage in a business combination with an affiliated shareholder, or any affiliate or associate of the affiliated shareholder, during the three-year period immediately following the affiliated shareholder’s share acquisition date unless:
a. Five affiliates filed under Subchapter V. One, Premier Petroleum, is a SARE and amended its petition to proceed under normal chapter 11. b. If the SARE’s debt were included, the debtors would collectively be over the $7.5M statutory cap. c. Section 101(51D), defining small business debtor“ ” excludes any debtor whose total
