Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 2 terms
A settlement forum whose award, once the parties consent, is deemed to be a decree of a civil court, is final, and carries no right of appeal.
Lenders bring large numbers of small accounts to these sittings and often accept a reduction to close them. The finality is the point, and the reason to agree slowly.
Cash held in a group entity from which it cannot readily be moved to where it is needed — because of that entity’s other shareholders, a lender’s consent, a distributable-profits test, or a cross-border tax cost.
Distinct from restricted cash, which is legally encumbered where it sits. Trapped cash is unencumbered and in the wrong company, and consolidation adds the two together without comment.