insider

insider: Person or other entity in a position to influence the debtor's actions. Transactions between insiders and the debtor are subjected to heightened scrutiny in a bankruptcy case.

If the debtor is an individual, insiders include family members, partners and any other business owned or operated by the debtor. If the debtor is a corporation, insiders include officers, directors and those who own or control more than 20% of the voting shares. (Bernstein's Dictionary of Bankruptcy Terminology)

Under Title 11 U.S.C. Section 101:

(31) The term "insider" includes—

(A) if the debtor is an individual—

(i) relative of the debtor or of a general partner of the debtor;

(ii) partnership in which the debtor is a general partner;

(iii) general partner of the debtor; or

(iv) corporation of which the debtor is a director, officer, or person in control;

(B) if the debtor is a corporation—

(i) director of the debtor;

(ii) officer of the debtor;

(iii) person in control of the debtor;

(iv) partnership in which the debtor is a general partner;

(v) general partner of the debtor; or

(vi) relative of a general partner, director, officer, or person in control of the debtor;

(C) if the debtor is a partnership—

(i) general partner in the debtor;

(ii) relative of a general partner in, general partner of, or person in control of the debtor;

(iii) partnership in which the debtor is a general partner;

(iv) general partner of the debtor; or

(v) person in control of the debtor;

(D) if the debtor is a municipality, elected official of the debtor or relative of an elected official of the debtor;

(E) affiliate, or insider of an affiliate as if such affiliate were the debtor; and

(F) managing agent of the debtor.

insider: Person or other entity in a position to influence the debtor's actions. Transactions between insiders and the debtor are subjected to heightened scrutiny in a bankruptcy case. If the debtor is an individual, insiders include family members, partners and any other business owned or operated by the debtor. If the debtor is a corporation, insiders include officers, directors and those who own or control more than 20% of the voting shares.

Glossary of Bankruptcy.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

insider — in·sid·er n: a person who is in a position of power or has access to confidential information: as a: one (as an officer, director, employee, relative, or owner of more than 10% of the corporation s stock) who is in a position to have special… … Law dictionary
insider — in‧sid‧er [ɪnˈsaɪdə ǁ ər] noun [countable] someone who works for a company or an organization and so has information about it that is not available to other people: • Company insiders have expressed their reservations about the deal. • Some… … Financial and business terms
Insider — Sm Eingeweihter per. Wortschatz fach. (20. Jh.) Entlehnung. Entlehnt aus ne. insider, einer Ableitung von ne. inside innen, innerhalb , zu ne. side Seite und ne. in . Ebenso nndl. insider, ne. insider, nschw. (Adj.) inside ( Insider ), nnorw.… … Etymologisches Wörterbuch der deutschen sprache
insider — n. an officer of a corporation or others who have access to private information about the corporation s operations, especially information relating to profitability. Note: An insider is forbidden by U. S. securities laws to trade stock in… … The Collaborative International Dictionary of English
insider — one in possession of special information by virtue of being within some organization, 1848, from INSIDE (Cf. inside) + ER (Cf. er) (1). Originally in reference to the stock markets … Etymology dictionary
insider — (izg. insàjder) m DEFINICIJA 1. čovjek koji unutar jedne skupine djeluje za račun druge skupine 2. ekon. onaj koji unutar poduzeća ima povjerljivu ulogu i važan položaj (ima pristup povjerljivim informacijama) ETIMOLOGIJA engl … Hrvatski jezični portal
insider — ► NOUN ▪ a person within an organization, especially someone privy to information unavailable to others … English terms dictionary
insider — [in′sīd΄ər, in sīd′ər] n. 1. a person inside a given place or group 2. a person having or likely to have secret or confidential information … English World dictionary
Insider — For the Amplifier album, see Insider (album). For other uses, see Insiders (disambiguation) and The Insider (disambiguation). An insider is a member of any group of people of limited number and generally restricted access. The term is used in the … Wikipedia
insider — With respect to federal regulation of purchase and sale of securities, refers to anyone who has knowledge of facts not available to the general public (e.g., officers, directors, key employees, relatives). 15 U.S. C.A. No. 78p(a). An insider is… … Black's law dictionary

Academic Dictionaries and Encyclopedias

insider

Look at other dictionaries:

Share the article and excerpts

Academic Dictionaries and Encyclopedias

Glossary of Bankruptcy

insider

Look at other dictionaries:

Share the article and excerpts

Direct link