administrative expense


administrative expense
USA
administrative claim, Also known as administrative expense claim and administrative expense.
A claim for expenses incurred with court approval for the actual and necessary costs of preserving the estate, after the filing of a bankruptcy petition. After the payment of secured claims and superpriority claims, administrative claims are entitled to the highest priority in distribution of the assets of the estate.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

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