Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

equitable-benefit doctrine

Read a random definition: carcanum

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
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.