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Bankruptcy Glossary

BANKRUPTCY GLOSSARY

341 Meeting

A meeting at which the debtor is questioned under oath by creditors, a trustee, examiner, or the United States trustee about his/her financial affairs.

Adequate Protection

Payment to a secured creditor to protect the value of the creditor’s lien during the bankruptcy, a proceeding from loss due to depreciation, or non-payment of a senior lien.

Adversary Proceeding

A lawsuit arising in, or related to, a bankruptcy case that is commenced by filing a complaint with the bankruptcy court.