Distribution of proceeds
Distribution of proceeds legal meaning, translation and judicial precedents.
Meaning & Judicial Interpretation: (اردو مفہوم اور قانونی تشریح)
Where two mortgages had been lawfully created in respect of same assets of the judgment debtor, if no other terms were specified between the parties to the contrary, unless the decree of first charge was fully satisfied by its sale proceeds, the decree from second charge, even if created with the consent of first mortgagor, would not be executable as it would be only subject to the satisfaction of the first decree/charge.
Where two mortgages had been lawfully created in respect of same assets of the judgment debtor, if no other terms were specified between the parties to the contrary, unless the decree of first charge was fully satisfied by its sale proceeds, the decree from second charge, even if created with the consent of first mortgagor, would not be executable as it would be only subject to the satisfaction of the first decree/charge.
"Distribution of proceeds", Pakistan Law Portal, available at: https://paklawportal.com/words-terms-maxims/124963509
Precedents & Case Laws citing "Distribution of proceeds"
P L D 1989 Karachi 71
ABDUL SATTAR SHAH ZAIDI — Plaintiff Versus UNIVERSITY OF KARACHI through its Vice-Chancellor and Ex Officio Chairman, Board of Governors, I.B.A. University Campus, Karachi and another — Defendants
Court:2005 Y L R 1954
ABDUL GHAFAR — Petitioner Versus SHAFQAT ALI, ADDITIONAL JUDGE, SHEIKHUPURA and 8 others — Respondents
Court: Lahore2006 M L D 1321
INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN — Petitioner Versus Messrs FRENCH FOOD PRODUCTS (PVT.) LTD. — Respondent
Court: Karachi2017 C L D 1707
INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN — Appellant Versus UNITED BANK LIMITED and others — Respondents
Court: Supreme Court of Pakistan2018 S C M R 24
INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN — Appellant Versus UNITED BANK LIMITED and others — Respondents
Court: Supreme Court of Pakistan2006 C L D 1161
INVESTMENT CORPORATION OF PAKISTAN and 5 others — Petitioners Versus JUDGE, BANKING COURT NO.1, MULTAN and 9 others — Respondents
Court: Lahore2000 P T D 1193
Mst. SHANTI Versus KARACHI TRANSPORT CORPORATION and others
Court: Karachi High Court2000 C L C 595
Mst. SHANTI‑‑‑Plaintiff Versus KARACHI TRANSPORT CORPORATION and others‑‑‑Defendants
Court: Karachi2015 C L D 1331
COLLECTOR OF CUSTOMS, KARACHI — Petitioner Versus NAYA DAUR MOTORS (PVT.) LTD. and others — Respondents
Court: Supreme Court of Pakistan2015 S C M R 1376
COLLECTOR OF CUSTOMS, KARACHI — Petitioner Versus NAYA DAUR MOTORS (PVT.) LTD. and others — Respondents
Court: Supreme Court of Pakistan