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Avoidance Powers
Legal powers granted to bankruptcy trustees or debtors in possession to invalidate certain pre-bankruptcy transactions made by the debtor, to protect the bankruptcy estate.
Bankruptcy Trustee
An individual appointed by the court to oversee and administer a debtor's estate in a bankruptcy case, ensuring the fair distribution of assets to creditors.
Mutual Mistake
A legal concept where all parties involved in a contract have a shared misunderstanding about a fundamental fact of the contract.
Qualified Pension Plan
A retirement plan that meets requirements set by the IRS, offering tax benefits to the employer and protection for the employees.
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