administrative expense

administrative expense.

1. OVERHEAD.

2. Bankruptcy. A cost incurred by the debtor, after filing a bankruptcy petition, that is necessary for the debtor to continue operating its business. • Administrative expenses are entitled to payment on a priority basis when the estate is distributed. 11 USCA § 503(b). See general administrative expense under EXPENSE. [Cases: Bankruptcy 2871–2879. C.J.S. Bankruptcy §§ 232, 250–254, 281, 354.]

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词条贡献者

资深译员Laura，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，专注翻译各种与美国公司法规有关的法律文件。