341 meeting
A 341 meeting is a mandatory meeting held at the beginning of a bankruptcy proceeding. Also referred to as the creditors meeting, its name comes from section 341 of the Bankruptcy Code.
A 341 meeting is a mandatory meeting held at the beginning of a bankruptcy proceeding. Also referred to as the creditors meeting, its name comes from section 341 of the Bankruptcy Code.
A 341 notice is the notice sent by the bankruptcy clerk to the debtor, the creditors, and all other interested parties, notifying them of the date, time, and place in which the 341 meeting (creditors meeting) will be held. Among other things, the 341 notice will state:
A 342 notice is the notice sent before the commencement of a bankruptcy proceeding by the bankruptcy clerk of the bankruptcy court to the debtor, which contains:
707(b) action is defined in Chapter 7 of the United States Bankruptcy code as a motion by the court, the United States trustee, the trustee, the administrator, or any party in interest to
The absolute bar rule prohibits a creditor who disposes of collateral in a commercially unreasonable manner from obtaining a deficiency judgment.
For example:
Abuse is an action that intentionally causes harm or injures another person. This can refer to physical abuse, psychological abuse, mental abuse, or child abuse (see below).
Abuse is also to misuse something—e.g., abuse of process.
Administrative expenses are defined under §507(a)(1) of the U.S. Bankruptcy Code, which states that claims that are given first priority distribution are those claims allowed as administrative expenses under §503(b).
An adversary proceeding may refer to cases where two opposing parties resolve a dispute through a neutral third party. However, the term is more frequently used to refer to a specific type of action in bankruptcy court.
Also called “future-acquired property."