|
Today's Terms
Absolute priority
Definition:
The order of payment to the different classes of creditors mandated by the Bankruptcy Code. In theory, claims with higher priority are paid in full before other claims receive anything
Asset
Definition:
An economic resource or item owned by a business that is expected to benefit its future operations.
Bankruptcy estate
Definition:
Generally, the property of the debtor that is subject to the jurisdiction of the bankruptcy court.
More Bankruptcy Terms >
|