U S Trustee - Law Dictionary Search Results
Home Dictionary Name: u s trusteeu.s. trustee
u.s. trustee An officer of the Justice Department responsible for supervising the administration of bankruptcy cases, estates, and trustees; monitoring plans and disclosure statements; monitoring creditors' committees; monitoring fee applications; and performing other statutory duties. Compare, bankruptcy administrator. Source: Administrative Office of the U.S. Courts ...
bankruptcy administrator
bankruptcy administrator An officer of the judiciary serving in the judicial districts of Alabama and North Carolina who, like the U.S. trustee, is responsible for supervising the administration of bankruptcy cases, estates, and trustees; monitoring plans and disclosure statements; monitoring creditors' committees; monitoring fee applications; and performing other statutory duties. Compare U.S. trustee. Source: Administrative Office of the U.S. Courts ...
small business case
small business case A special type of chapter 11 case in which there is no creditors' committee (or the creditors' committee is 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 business debtor is in bankruptcy. Source: Administrative Office of the U.S. Courts ...
objection to exemptions
objection to exemptions A trustee's or creditor's objection to the debtor's attempt to claim certain property as exempt from liquidation by the trustee to creditors. Source: Administrative Office of the U.S. Courts ...
trustee process
trustee process : the process of attachment by garnishment used esp. in the northeastern U.S. ...
avoid
avoid [modification of Old French esvuider to destroy, literally, to empty, from es- out + vuider to empty] 1 : to make void or undo : annul [the trustee may any transfer of interest of the debtor in property "U.S. Code"] 2 : to respond to (an allegation or averment) by declaring that facts alleged do not result in liability [averments in a pleading to which no responsive pleading is required or permitted shall be taken as denied or ed "Federal Rules of Civil Procedure Rule 8(d)"] see also confession and avoidance compare deny 3 : to prevent the occurrence of or responsibility for esp. through lawful means [ a tax] compare evade avoid·abil·i·ty n avoid·able adj avoid·ance n ...
Anticipation
Anticipation, doing or taking a thing before the appointed time. For anticipation of an invention see PATENTS. A married woman may be restrained by the terms of a will or settlement from aliening, by way of anticipation, property settled to her separate use during coverture. Such a clause absolutely disables her from selling, mortgaging or dealing with the property in anticipation, but it does not apply to income actually accrued due, Hood Barrs v. Heriot, 1896 AC 174, and on the determination of the coverture the restraint is at an end, Tullett v. Armstrong, (1839) 4 My&Cr 377; 1 Beav 1. Such a provision is only effective during coverture; it cannot affect dispositions in favour of a man, Brandon v. Robinson, (1871) 18 Ves 429, or a feme sole. The restraint may be applied either to corpus or income, usually only to the latter; in a marriage settlement the wife's income is almost invariably directed to be paid to her, without power of anticipation.' The L.P. Act, 1925, s. 169, repeatin...
Vesting
Vesting, 'vesting' is a word of slippery import and has many meanings. The sense of the situation suggests that in s. 117(1) of the Act 'vested in the State' carries a plenary connotation, while 'shall vest in the Gaon Sabha' imports a qualified disposition confined to the right to full possession and enjoyment so long as it lasts, Maharaj Singh v. State of Uttar Pradesh, AIR 1976 SC 2602: (1977) 1 SCC 155: (1977) 2 SCR 1072. (U.P.Z.A. & LR Act, 1950, s. 4, 6 and 117)Vesting, any property in a trustee refer to cases where a new trustee is appointed, and are not intended to cover cases in which it is sought to recover possession of the trust property by ejecting trespassers who are wrongfully in possession of it, Johnson D. Po Min v. U. Ogh, AIR 1932 Rang 132: 10 Rang 342.Vesting assent, defined by s. 117 (1) (xxx.), (English) Settled Land act, 1925, to mean the instrument whereby a personal representative after the death of a tenant for life or statutory owner or the survivor of two or...
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
bond
bond 1 a : a usually formal written agreement by which a person undertakes to perform a certain act (as appear in court or fulfill the obligations of a contract) or abstain from performing an act (as committing a crime) with the condition that failure to perform or abstain will obligate the person or often a surety to pay a sum of money or will result in the forfeiture of money put up by the person or surety ;also : the money put up NOTE: The purpose of a bond is to provide an incentive for the fulfillment of an obligation. It also provides reassurance that the obligation will be fulfilled and that compensation is available if it is not fulfilled. In most cases a surety is involved, and the bond makes the surety responsible for the consequences of the obligated person's behavior. Some bonds, such as fidelity bonds, function as insurance agreements, in which the surety promises to pay for financial loss caused by the bad behavior of an obligated person or by some contingency over w...
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