A statutory assignment is "subject to the equities." That means that even if the requirements for a statutory assignment have been satisfied, it will be enforced only if a court believes that, in light of all of the circumstances, it would be fairer for the assignee, rather than the debtor, to win the case.

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A statutory assignment is not "subject to the equities," meaning it is not dependent on fairness considerations by the court. Once the legal requirements are met, the assignee has the same rights as the assignor, regardless of fairness.

A Statutory Assignment Is "Subject to the Equities