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.

United Glossary of Bankruptcy Terms 2012.

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.

US Bankruptcy 2012.


Glossary of Bankruptcy.

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