trustee in bankruptcy
121Section 363 sale — or 363 sale the sale of corporate assets under Section 363 of the Bankruptcy Code. Under Section 363(f), a bankruptcy trustee or debtor in possession may sell the bankruptcy estate s assets free and clear of any interest in such property.… …
122363 sale — Section 363 sale or 363 sale the sale of corporate assets under Section 363 of the Bankruptcy Code. Under Section 363(f), a bankruptcy trustee or debtor in possession may sell the bankruptcy estate s assets free and clear of any interest in such… …
123executory contract — a contract in which some or all of the obligations of each party have not yet been completed. The debtor in possession (or trustee) is allowed to reject unilaterally certain executory contracts (Glossary of Common Bankruptcy Terms) see leases and …
124fraudulent preference — Under the Bankruptcy and insolvency Act, this is the preferring by a debtor of one or more creditors over others by the payment to those creditors of some extraordinary amounts of money. Under the Bankruptcy and insolvency Act, the Trustee can,… …
125period of exclusivity — a debtor in Chapter 11 has the exclusive right to file a plan of reorganization for the first 120 days of its bankruptcy. Thereafter, unless the period of exclusivity is extended by the court, other parties may file reorganization plans. (see… …
126preference — a payment by a debtor made during a specified period (90 days or one year) prior to the filing that favors one creditor over others. Preference payments can usually be recovered and returned to the debtor s estate (Glossary of Common Bankruptcy… …
127objection to exemptions — A formal request asking the Bankruptcy Court to deny the debtor certain exemptions claimed on the bankruptcy schedules (SA Bankruptcy.com) A trustee s or creditor s objection to a debtor s attempt to claim certain property as exempt, i.e., not… …
128inspector — Individual(s) appointed to authorize and direct Trustees in the administration of estates, pursuant to the Bankruptcy and insolvency Act (Ontario Bankruptcy Dictionary) A person appointed by creditors at the first or subsequent meeting of… …
