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LSDefine

Simple English definitions for legal terms

administrative expenses

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A quick definition of administrative expenses:

Administrative expenses are costs that are given the highest priority in bankruptcy cases. These expenses must have arisen from a transaction between the creditor and debtor after the bankruptcy case was filed, and must be necessary to preserve the estate. Examples of administrative expenses include wages, salaries, and commissions for services rendered after the commencement of the bankruptcy case, taxes incurred by the estate, and expenses incurred by a creditor in filing an involuntary petition or making a substantial contribution to the case.

A more thorough explanation:

Administrative expenses are costs and expenses that arise after a company files for bankruptcy and are necessary to preserve the company's assets. These expenses have the highest priority among creditor claims in bankruptcy.

For a claim to be considered an administrative expense, it must meet two criteria:

  1. The expense must have arisen from a post-petition transaction between the creditor and the debtor.
  2. The expense must have been "actual and necessary" to preserve the estate.

Examples of administrative expenses include:

  • Wages, salaries, or commissions for services rendered after the commencement of a bankruptcy case
  • Utilities expenses
  • Taxes incurred by the estate, except taxes of a kind specified in §507(a)(8)
  • Compensation and reimbursement awarded to officers of the bankruptcy case, such as trustees, examiners, and professionals
  • Actual, necessary expenses incurred by a creditor in filing an involuntary petition under §303

These examples illustrate how administrative expenses are necessary costs and expenses that arise after a company files for bankruptcy and are required to preserve the company's assets. They also show how administrative expenses have the highest priority among creditor claims in bankruptcy.

administrative agency | administrative forfeiture

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babycat
23:27
when they said gentle femdom they were understating it
JumpySubsequentDolphin
23:28
yeah no they for sure should’ve said aggressive dark femdom
JumpySubsequentDolphin
23:30
@babycat: a straight man just told me he’s obsessed w clairo and beabadoobee’s music. curious to hear your thoughts
babycat
23:31
i would not let that slide. too many men out here want to be soft boys
babycat
23:31
good times create weak men, weak men create hard times, and so on
JumpySubsequentDolphin
23:32
i feel like I’ve never been more certain that a man’s a whore in my life
JumpySubsequentDolphin
23:33
what do you MEAN you’re obsessed with clairo and beabadoobee. who are you trying to impress
babycat
23:37
men will say ugh i wish i had a girl to go to the clairo concert with me. whole time they’re just whores
23:38
my buddy went to under grad with her
ok what's wrong with liking beabadoobee though 😭
23:39
^
23:57
straight man who likes beabadoobee has a 60% chance of being full of red flags and that percentage is too high to risk it
23:57
i unfortunately have the falling for straight man by accident because i thought he was bi because he likes clairo and beabadoobee disorder
JumpySubsequentDolphin
23:58
Eggan thank you for understanding. ily.
@Eggan: oh goodness
ExplodingEffoc
0:04
Glue song Clairo and Beabadoobee best song ever
I think a night to remember is better but yea they're both very good
Dkk
0:08
I would call Arendt nuts but correct sometimes.
Dkk
0:09
No idea who these artists are
Dkk
0:30
Hmmm idk if that story helped
0:43
Beabadoobee is such a stupid artist name
0:43
Yeah bro I listen to poo poo pee pee
lavendergiraffe
0:48
who up refreshing they status ;)
Dkk
0:51
I'm watching space ghost coast to coast
how the homies hangin
Dkk
1:44
Hangin well!
Dkk
1:44
On the nightshift
2:37
this chat is hilarious
Dkk
2:37
@idkdude: Thanks. We take pride in that.
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