LAW 610 Chapter Notes - Chapter 35: Chapter 7, Title 11, United States Code, Bankruptcy Discharge, Chapter 11, Title 11, United States Code
Document Summary
List the requirements for the commencement of a voluntary bankruptcy case and an involuntary bankruptcy case. Explain the procedure for the administration of a debtor"s estate. Explain the significance of a discharge in bankruptcy. Explain when a business reorganization plan or an extended-time payment plan might be used. Bankruptcy is a statutory proceeding with detailed procedures and requirements. Bankruptcy law is based on federal statutes refined over the years. Jurisdiction over bankruptcy proceedings is with federal district courts. District courts have authority to transfer to bankruptcy courts. Bankruptcy courts = court of special jurisdiction to determine bankruptcy issues. ,081400 and have regular income than automatically declaring chapter 7 bankruptcy. Voluntary bankruptcy proceeding in which the debtor files the petition for relief. A voluntary bankruptcy begins with a debtor filing petition or a joint petition by husband and wife. Debtor must file a schedule of current income and expenses unless court excuses filing.
