financial events

A 341 meeting is a mandatory meeting held at the beginning of a bankruptcy proceeding. Also referred to as the creditors meeting, its name comes from section 341 of the Bankruptcy Code.

A 341 notice is the notice sent by the bankruptcy clerk to the debtor, the creditors, and all other interested parties, notifying them of the date, time, and place in which the 341 meeting (creditors meeting) will be held. Among other things, the 341 notice will state:

A 342 notice is the notice sent before the commencement of a bankruptcy proceeding by the bankruptcy clerk of the bankruptcy court to the debtor, which contains:

707(b) action is defined in Chapter 7 of the United States Bankruptcy code as a motion by the court, the United States trustee, the trustee, the administrator, or any party in interest to

An AB trust (also called a bypass trust or a credit shelter trust) is a technique which allows married couples to avoid estate taxes on transfers of wealth to third parties up to a certain amount.

Abscond means leaving a jurisdiction secretly or suddenly, e.g.

The absolute-bar rule prevents a creditor from obtaining a deficiency judgment if collateral was disposed of in a commercially unreasonable manner. 

Abuse is an action that intentionally causes harm or injures another person. This can refer to physical abuse, psychological abuse, mental abuse, or child abuse (see below). 

Abuse is also to misuse something—e.g., abuse of process. 

Accounting is the practice of accurately and timely recording, analyzing, summarizing, and classifying financial transactions of a business. Commonly, those financial transactions are recorded in a set of financial records called financial statements. 

Accounts receivable (abbreviated AR or A/R) is an accounting term, which refers to the money owed to a business by another business or individual in exchange for property or services that were provided on credit. In other words, accounts receivable stands for the money that have not been paid to a business.