Estate in Bankruptcy
/ˈɛsteɪt ɪn ˈbæŋkrʌptsi/
Definitions
- (n.) The total property, rights, and obligations of a debtor under bankruptcy proceedings, managed by a trustee for the benefit of creditors.
The trustee administered the estate in bankruptcy to ensure fair distribution among creditors.
Forms
- estate in bankruptcy
- estates in bankruptcy
Related terms
See also
Commentary
The term refers to a legal construct encompassing all assets and liabilities of the debtor subject to bankruptcy court control; drafting should clarify whether reference is to pre- or post-petition estate.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.