us bankruptcy code
91Chapter 10 — a new chapter of the bankruptcy code proposed in 1992 and pending in 1993. Chapter 10, like Chapter XI of the old code, is designed for small business reorganizations. (Common Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …
92cash collateral — cash and cash equivalents held by the debtor in Chapter 11 subject to liens of other parties. (Glossary of Common Bankruptcy Terms) Cash, bank accounts or cash equivalents subject to a security interest. (Bernstein s Dictionary of Bankruptcy… …
93fresh start — informal term for the new accounting rules applicable to bankrupt companies. For companies that either filed for Chapter 11 after January 1991 or emerged from Chapter 11 after June 1991, assets are valued at market value rather than at historical …
94nondischargeable debt — a debt that cannot be eliminated in bankruptcy (Glossary of Common Bankruptcy Terms) A debt that is excluded from the Debtor s discharge on one or more of the grounds enumerated in the Bankruptcy Code. See 11 U.S.C. § 523 (SA Bankruptcy.com)… …
95collateral — Property pledged as security for the satisfaction of a debt. Collateral may also refer to property that has become subject to the lien of one or more creditors through judicial process. Such creditors are often referred to as secured creditors… …
96Section 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.… …
97363 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… …
98priority claim — An unsecured claim that is paid ahead of other unsecured claims based upon the priority scheme established by the Bankruptcy Code (SA Bankruptcy.com) See under claim; priority claim (Bernstein s Dictionary of Bankruptcy Terminology) An unsecured… …
99meeting of creditors — The debtor must appear at a meeting with the trustee to be examined under oath about assets and liabilities. Creditors are invited but seldom attend. The meeting is sometimes called the 341 meeting, after the section of the Bankruptcy Code that… …
100absolute priority — the order of payment to the different classes of creditors mandated by the Bankruptcy Code. Claimants with higher priority are paid in full before other claims receive anything. Junior creditors and shareholders are paid after senior creditors.… …
