Trustee - Law Dictionary Search Results
objection to dischargeability
objection to dischargeability A trustee's or creditor's objection to the debtor being released from personal liability for certain dischargeable debts. Common reasons include
ordinary course of business
a business esp. considered in relation to the amount, circumstances, and validity of a particular transfer [the bankruptcy trustee voided a transfer that was not in the ordinary course of business] see also buyer in ordinary course
plan
one made under chapter 13 of the Bankruptcy Code that places future earnings under the control of a trustee, provides for the payment of creditors, and is subject to approval by the creditors
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preference
antecedent debt at debt, fraudulent conveyance general assignment at assignment NOTE: Preferences can be voided by a bankruptcy trustee because they diminish the bankruptcy estate out of which other creditors will be paid. Preferences must be made
prudent man rule
prudent man rule : a rule giving discretion to a fiduciary and esp. a trustee to manage another's affairs and invest another's money with such skill and care as a person of ordinary
self-dealing
insiders) rather than those to whom one owes a duty by virtue of one's position [ by a trustee] self-dealing adj
invade
2 : to make payments out of (a fund from which payments are not ordinarily made) [authorized the trustee to the principal for educational expenses]
sequester
sequester -tered -ter·ing [Anglo-French sequestrer, from Middle French, from Latin sequestrare to hand over to a trustee, from sequester third party to whom disputed property is entrusted, agent, from secus beside, otherwise] 1 : to
settlor
settlor : a person who creates a trust compare beneficiary, trustee
small business case
deemed inactive by the court) and in which the debtor is subject to more oversight by the U.S. trustee than other chapter 11 debtors. The Bankruptcy Code contains certain provisions designed to reduce the time a small
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