Disinterested Person | Practical Law

Disinterested Person | Practical Law

Disinterested Person

Disinterested Person

Practical Law Glossary Item 2-382-3414 (Approx. 2 pages)

Glossary

Disinterested Person

In the context of bankruptcy, a person that satisfies all of the following criteria:
  • Is not a creditor, shareholder, or an insider.
  • Is not and was not within two years before the date of the filing of the petition, a director, officer, or employee of the debtor.
  • Does not have an interest materially adverse to the interests of the estate or of any class of creditors or shareholders, by reason of any direct or indirect relationship to, connection with, or interest in, the debtor or for any other reason.