| Notices in Bankruptcy |
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| Creditors, equity security holders, the United States, and the United States Trustee in a bankruptcy case are entitled to receive various notices.More... |
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| Introduction to Chapter 13 Bankruptcy |
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| The Bankruptcy Code is divided into "Chapters" that set forth the laws that apply to different types of debtors, as well as creditors. Chapter 13 of the Bankruptcy Code applies to individuals or consumers, rather than businesses or companies.
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| Preferential Transfers |
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| A trustee in bankruptcy may avoid certain statutory liens, fraudulent transfers, as well as preferences. The Bankruptcy Code provides that certain transfers made by a debtor within close proximity of bankruptcy are preferential to the recipient and violate the Bankruptcy Code's policy of equal treatment of creditors. The elements of a so-called "preference" or "preferential transfer" are easy for a trustee in bankruptcy to prove. The defenses available to the creditor are limited and the cost to litigate can be high. More... |
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| Exempt Property in Chapter 7 Bankruptcy |
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| Because Chapter 7 is a "liquidation" process, as opposed to a "reorganization," all of a debtor's "non-exempt" assets or property can be sold by a bankruptcy trustee, who then distributes the sale proceeds to the creditors. More... |
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| Equity Security Holders |
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| An equity security holder is a holder of an equity security of the debtor in a bankruptcy case. Examples of an equity security are a share in a corporation; an interest of a limited partner in a limited partnership; or a right to purchase, sell, or subscribe to a share, security, or interest of a share in a corporation or an interest in a limited partnership. More... |
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