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

法律翻译Dan，在一家专注于能源领域的国际律师事务所担任全职法律翻译，擅长翻译有关新兴技术领域的法律文件。