Finance and legal glossary for claim holders

Short definitions for the legal, finance, and crypto terms used in Paxtibi articles.

Legal and claims terms

Bankruptcy, settlement, court, and claim-sale words used across Paxtibi articles.

Bankruptcy claim: A formal request for payment from a bankrupt person or company.
Creditor: A person or company owed money by another party.
Debtor: A person or company that owes money.
Bankruptcy estate: Assets and legal rights controlled by bankruptcy and used to repay creditors.
Proof of claim: A court form showing what a creditor is owed and why.
Form 410: The standard U.S. bankruptcy proof-of-claim form.
Chapter 7: A U.S. bankruptcy process where assets are sold to repay creditors.
Chapter 11: A U.S. bankruptcy process used to reorganize a business while it keeps operating.
Secured claim: A claim backed by collateral, giving the creditor rights in a specific asset.
Unsecured claim: A claim not backed by collateral.
Priority unsecured claim: An unsecured claim legally paid before ordinary unsecured claims.
General unsecured claim: An ordinary unsecured claim paid after higher-priority creditors.
Disputed claim: A claim whose amount, validity, or priority is challenged.
Trustee: A court-appointed person who manages assets or claims in a case.
Administrator: A person or firm managing notices, claims, payments, or estate operations.
Insolvency practitioner: A licensed professional who manages insolvency or restructuring procedures.
Liquidator: A person appointed to sell assets and distribute proceeds.
Liquidation: The sale of assets to turn them into cash for creditors.
Winding-up: A court process that closes a company and distributes remaining assets.
Restructuring: Changing debts, operations, or ownership to avoid or manage insolvency.
Recognition: When one country accepts and gives effect to another country’s insolvency case.
Cross-border insolvency: An insolvency case involving assets, creditors, or companies in multiple countries.
Statutory deadline: A filing deadline set by law.
Distribution: Money or assets paid out to creditors or claimants.
Record date: The date used to decide who qualifies for a payment or distribution.
Claim assignment: A transfer of claim ownership from one party to another.
Claim transfer: The legal or administrative movement of a claim to a new holder.
Claim buyer: A person or company that buys claims before final payment.
Claims docket: The court or administrator record listing claim filings and transfers.
Docket: The official list of filings and events in a court case.
PACER: The U.S. federal court system for accessing case filings online.
Jurisdiction: The legal authority of a court, country, or regulator over a matter.
Arbitration: A private dispute process outside court, usually decided by an arbitrator.
Class action: A lawsuit brought for a group of people with similar claims.
Class Counsel: Lawyers appointed to represent a class in a class action.
Settlement class: People covered by a proposed or approved class-action settlement.
Settlement fund: Money set aside to pay eligible settlement class members.
Settlement administrator: The firm managing notices, claims, records, and payments for a settlement.
Final approval: The court’s decision that a class-action settlement can take effect.
Objection: A formal challenge to a claim, settlement, or court request.
Appeal: A request for a higher court to review a lower court’s decision.
9th Circuit: The federal appeals court covering western U.S. states.
Rehearing: A request asking the same appeals court to reconsider its decision.
Supreme Court petition: A request asking the U.S. Supreme Court to review a case.
Escrow: Money or assets held by a neutral party until conditions are met.
Face value: The stated amount of a claim before discounts, fees, or risk adjustments.
Annual payment cycle: A yearly schedule for making distributions or settlement payments.
Tax warning: A disclosure explaining possible tax consequences before a transaction.

NCAA settlement terms

Terms used in the House v. NCAA settlement guide and related claim-sale analysis.

House v. NCAA: The college athlete compensation case behind the NCAA House Settlement.
NCAA House Settlement: A settlement fund for eligible Division I athletes affected by NCAA compensation rules.
NIL: Name, Image, and Likeness rights athletes can monetize.
Title IX: A U.S. law prohibiting sex discrimination in education programs receiving federal funds.
Power Five conferences: The major U.S. college athletic conferences involved in top-level Division I sports.
Claim ID: A unique identifier used to access or verify a settlement claim.
PIN: A personal code used with a Claim ID to access a claim portal.
Walk-on: A college athlete on a team without an athletic scholarship.
Damages allocation: How settlement money is divided among eligible groups or claimants.

Crypto, DeFi, and finance terms

Trading, lending, token, and market-structure terms used in crypto recovery articles.

Stablecoin: A crypto token designed to track a reference asset, usually the U.S. dollar.
Algorithmic stablecoin: A stablecoin that relies on code and incentives instead of full reserves.
USDT: Tether’s dollar-linked stablecoin.
USDC: Circle’s dollar-linked stablecoin.
OUSD: Open Standard’s dollar-linked stablecoin discussed in Paxtibi’s OUSD article.
Payment rail: The infrastructure used to move money between parties.
Redemption: Exchanging a token, fund share, or claim for cash or underlying assets.
Reserve composition: The mix of assets backing a token, fund, or financial product.
Collateral: An asset pledged to secure a debt, such as property backing a loan.
Collateral valuation: The method used to decide what pledged collateral is worth.
Undercollateralized: A position where collateral is worth less than the debt it supports.
Loan-to-value: The ratio between a loan amount and collateral value.
Liquidation incentive: Extra compensation paid to liquidators for closing unhealthy positions.
Liquidation penalty: The cost or discount applied when a position is liquidated.
Bad debt: Debt unlikely to be fully repaid.
Oracle: A data source that supplies prices or facts to a blockchain protocol.
On-chain: Recorded directly on a blockchain.
OTC: A private trade negotiated directly between parties, outside public exchanges.
Counterparty risk: The risk that the other side of a transaction fails to perform.
Settlement risk: The risk that payment or asset delivery fails after a trade is agreed.
Execution risk: The risk that a trade cannot be completed as expected.
Vault share: A token representing a share of assets held in a vault.
Tokenized asset: A blockchain token representing ownership or exposure to an asset.
RWA: A real-world asset represented, financed, or traded through crypto rails.
Private credit: Loans made outside public bond or bank markets.
Custodian: A company that holds assets for customers or institutions.
Cold storage: Offline crypto storage designed to reduce hacking risk.
Wallet address: A blockchain destination used to receive or send crypto.
Transaction hash: A unique blockchain identifier for a transaction.
Transfer history: A record of deposits, withdrawals, and asset movements.
Address poisoning: A scam that plants lookalike wallet addresses in transaction history.
Market maker: A trader or firm providing buy and sell quotes to support liquidity.
Proof of reserves: Evidence intended to show a platform holds enough assets for users.
Wind-down: An orderly process of closing operations and returning or selling assets.
BNB Chain: A blockchain network associated with Binance’s ecosystem.
TradFi: Traditional finance, including banks, brokers, and conventional payment systems.
MiCA: The European Union’s Markets in Crypto-Assets regulation.
GENIUS Act: A U.S. stablecoin law referenced for payment-stablecoin rules.
KYC: Know Your Customer checks used to verify identity and compliance.

Coinbase and recovery terms

Terms used in account recovery, dormant asset, and unclaimed property articles.

Escheatment: The transfer of dormant property to a state when the owner cannot be reached.
Unclaimed property: Dormant money or assets held by a state until the owner claims them.
Dormant account: An inactive account that may trigger reporting or transfer obligations.
Remittance: The transfer of money to another party or authority.
Cross-border disbursement: A payment sent from one country to a recipient in another country.
Source-of-funds review: A compliance check into where money or crypto originally came from.
Ownership path: The document trail showing how an asset belongs to a claimant.

Exchange failure terms

Terms used in BitMart, exchange wind-down, and creditor organization articles.

Liability disclosure: A statement showing what a company owes and to whom.
Individual arbitration: A contract requirement forcing claims into separate private disputes.
No class actions: A contract clause blocking group lawsuits.
Bankruptcy petition: A filing asking a court to open a bankruptcy case.
Creditor committee: A group representing creditor interests in an insolvency case.
Cayman winding-up court: The Cayman Islands court that can liquidate companies.
Marshall Islands entity: A company formed under Marshall Islands law.
Australian Financial Services Licence: An Australian licence for businesses providing regulated financial services.
ASIC: Australia’s corporate and financial services regulator.

Glossary FAQ

What is this glossary for?

It explains technical words used in Paxtibi guides so readers can understand claims, recoveries, and liquidity decisions.

Are these legal definitions?

No. They are plain-language explanations, not legal, tax, or financial advice.

Why are some terms in English on translated pages?

Court filings, crypto tickers, and product names often use English acronyms globally.