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Simple English definitions for legal terms

administrative-convenience exception

Read a random definition: capitalis justiciarius banci

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

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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