subrogation

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subrogation

The substitution of one person for another with respect to legal rights such as a right of recovery; occurs when a third person, such as an insurance company, has paid a debt of another or claim against another and succeeds to all legal rights which the debtor or person against whom the claim was asserted may have against other persons.
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noting the long, drawn-out nature of liquidation in bankruptcy where even employees who have priority rights will still be subject to drawn out wait for their claim to be realized, as opposed to guarantee schemes where there can be immediate payment while the guarantor--who is better situated to handle the time delay--is subrogated to insolvency claim).
11) However, an intervening lien did exist, in favor of Boley, and the court was called upon to determine whether Daniel's mortgage should be equitably subrogated to the rights of the lien it had satisfied, and, thus, assume a superior priority to Daniel's intervening lien.
shall be subrogated to the rights of the holders of Senior Debt to receive payments .
The defendants argued that when the insurers made payments on the plaintiff's behalf, they extinguished the plaintiff's liability for medical expenses and that the plaintiff's claim for medical expenses became vested in the subrogated insurers.
Aetna, by it surety bond, becomes subrogated to the rights of the principal (Suburban) under Lien Law [sections] 70(6), and subrogated to the rights of the owner (DOT) to complete and finance the contracted project and receive the contracted compensation under Lien Law [sections] 70(5).
The Insurance Act provides that, where the insured's only financial interest in a subrogated claim is the recovery of its deductible, the insurance company is entitled to control the lawsuit brought against the wrongdoer.
Aetna was held fully subrogated to the Department of Labor's rights.
Their expertise, in subrogated recoveries and anti-bribery respectively, present fantastic new opportunities for our business and I look forward to seeing these areas grow significantly in time.
However, the best interests of the child should not be subrogated to the procedure.
It flags claims that have the potential to be subrogated to the company's claims analysts for further review.
In that case, the Minister of Family and Social Services can require the money be collected through the Program because the support payments may be subrogated to the provincial government.
Permitting the surety to prosecute subrogated claims of the subcontractor, the argument runs, would require the owner to make payments it was not obligated to make.