gap creditor

Bankruptcy. A creditor who extends credit to, lends money to, or has a claim arise against the debtor in the period between the filing of an involuntary bankruptcy petition and the entry of the order for relief.

• Under the Bankruptcy Code, a gap creditor’s claim receives second priority, immediately below administrative claims. 11 USCA §§ 502(f), 507(a)(2). [Cases: Bankruptcy 2833. C.J.S. Bankruptcy § 240.]

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词条贡献者

双语律师李明，国际知名法学院法律专业，擅长翻译各类与政府监管相关的法律文件。