meeting of creditors

meeting of creditors
meet·ing of creditors: a hearing held pursuant to section 341 of the Bankruptcy Code at which a bankrupt debtor is required to submit to examination under oath by creditors who may also elect a trustee if one has not already been appointed

Merriam-Webster’s Dictionary of Law. . 1996.

meeting of creditors
A meeting the debtor must attend in a bankruptcy case with the bankruptcy trustee and any creditors who choose to attend. Typically, the trustee reviews the debtor's papers and may ask a few questions; creditors also have the opportunity to ask questions. In a Chapter 7 case, creditors rarely attend, and the meeting takes only a few minutes. In a Chapter 13 case, creditors are more likely to attend, particularly if they wish to challenge the debtor's repayment plan.
Category: Bankruptcy, Foreclosure & Debt → Bankruptcy

Nolo’s Plain-English Law Dictionary. . 2009.

meeting of creditors
USA
Section 341 meeting. Also known as meeting of creditors, creditors' meeting, and first meeting of creditors.
The first meeting of creditors required by Section 341 of the Bankruptcy Code at which an executive officer of the debtor is questioned under oath regarding the debtor's financial affairs.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


meeting of creditors
One of the first steps in federal bankruptcy proceedings whereby the creditors of a debtor meet in court to present their claims against him or her and a trustee is named to handle the application of the debtor's assets to pay his or her debts.

Dictionary from West's Encyclopedia of American Law. 2005.


meeting of creditors
One of the first steps in federal bankruptcy proceedings whereby the creditors of a debtor meet in court to present their claims against him or her and a trustee is named to handle the application of the debtor's assets to pay his or her debts.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • meeting 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… …   Glossary of Bankruptcy

  • meeting of Creditors — See Section 341(a) Meeting (SA Bankruptcy.com) United Glossary of Bankruptcy Terms 2012. meeting of creditors Also known as the section 341 meeting or first meeting of creditors. This is an opportunity for the trustee and the creditors to… …   Glossary of Bankruptcy

  • meeting of creditors — See creditors meeting …   Ballentine's law dictionary

  • meeting of creditors — See creditors voluntary liquidation; liquidator See also feature Bankruptcy Law on p. 51 …   Big dictionary of business and management

  • first meeting of creditors — USA Section 341 meeting. Also known as meeting of creditors, creditors meeting, and first meeting of creditors. The first meeting of creditors required by Section 341 of the Bankruptcy Code at which an executive officer of the debtor is… …   Law dictionary

  • first meeting of creditors — a mandatory meeting between creditors and the debtor. It is usually held within a month of the filing of bankruptcy but often occurs later when the debtor has filed its schedules of financial information (Glossary of Common Bankruptcy Terms) The… …   Glossary of Bankruptcy

  • meeting — meet‧ing [ˈmiːtɪŋ] noun [countable] an event at which people meet to talk and decide things: • We had a meeting yesterday to discuss progress. • It was decided to hold a shareholders meeting later this month. • Two of the directors refused to… …   Financial and business terms

  • creditors' meeting — USA Section 341 meeting. Also known as meeting of creditors, creditors meeting, and first meeting of creditors. The first meeting of creditors required by Section 341 of the Bankruptcy Code at which an executive officer of the debtor is… …   Law dictionary

  • meeting — I (conference) noun assembly, caucus, colloquy, conclave, concursus, congressio, consistory, consultation, convention, conventus, convocation, discussion, encounter, exchange of views, forum, gathering, interchange of views, negotiation, open… …   Law dictionary

  • first meeting of creditors — In bankruptcy, the initial meeting called by the court for the examination of the bankrupt (i.e. debtor). Bankruptcy Code, No. 341 …   Black's law dictionary

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”