Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

equitable-benefit doctrine

Read a random definition: recidivate

A quick definition of equitable-benefit doctrine:

The equitable-benefit doctrine is a rule in bankruptcy that allows the court to give special treatment to claims made by people who provided services that helped the bankrupt estate. This means that if someone did work that benefited the estate as a whole, they may be able to get paid before other creditors.

A more thorough explanation:

The equitable-benefit doctrine is a principle used in bankruptcy cases. It allows a bankruptcy court to give priority to claims made by people who provided services to the estate, as long as those services benefited the estate as a whole. This means that these claims will be paid before other claims that do not meet this criteria.

For example, let's say a lawyer provided legal services to a bankrupt company during the bankruptcy proceedings. If the lawyer can show that their services benefited the estate as a whole, they may be able to make a claim for payment under the equitable-benefit doctrine. This claim would be given priority over other claims that do not meet this criteria.

Another example could be a consultant who provided advice to the company during the bankruptcy proceedings. If the consultant can show that their advice helped the estate as a whole, they may be able to make a claim for payment under the equitable-benefit doctrine.

The equitable-benefit doctrine is used to ensure that those who provide services that benefit the estate as a whole are compensated fairly. It helps to encourage people to provide these services, knowing that they will be given priority in the bankruptcy proceedings.

equitable assignment | equitable construction

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
HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
LSD+ is ad-free, with DMs, discounts, case briefs & more.