Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

administrative-convenience exception

Read a random definition: prolixity

A quick definition of administrative-convenience exception:

Administrative-Convenience Exception: This is a rule that allows a bankruptcy plan to treat small, unsecured claims differently from other claims. This can help the bankruptcy process go more smoothly by dealing with these small claims first. It is meant to make things easier for everyone involved.

A more thorough explanation:

The administrative-convenience exception is a provision in bankruptcy law that allows for a separate classification of small, unsecured claims in a bankruptcy plan. This separate classification can help to dispose of the estate more efficiently by paying or eliminating the small claims earlier than other claims.

For example, if a bankrupt company owes $10,000 to a supplier and $100 to a small vendor, the administrative-convenience exception would allow for the small vendor's claim to be paid or eliminated first, even though the supplier's claim is larger. This can help to speed up the bankruptcy process and make it more efficient.

The administrative-convenience exception is designed to help bankruptcy trustees manage the estate in a way that is fair and efficient for all parties involved. By prioritizing small claims, trustees can help to ensure that creditors receive some payment for their debts, even if the estate is not able to pay all claims in full.

administrative-control rule | administrative expense

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.