bankruptcy estate

bankruptcy estate definition - business

bankruptcy estate

Legal property of a debtor in bankruptcy that is available to pay creditors. The bankruptcy estate includes the debtor's interest in jointly held property, but it excludes assets held in ERISA-qualified retirement plans and 401(k) plans.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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