|
Today's Terms
Avoidance power
Definition:
The power of the court to invalidate certain obligations or transactions undertaken by a debtor prior to filing bankruptcy.
Chapter Twenty
Definition:
An unofficial term describing the filing of a Chapter 7 proceeding followed by a Chapter 13.
Secured creditors
Definition:
One of two general types of creditors of a company. Secured creditors have a lien on property of the company.
More Bankruptcy Terms >
|