This is FindLaw's collection of Bankruptcy articles, part of the Finance section of the Corporate Counsel Center. Bankruptcy law is federal statutory law contained in Title 11 of the United States Code. Congress passed the Bankruptcy Code under its constitutional grant of authority to "establish... uniform laws on the subject of Bankruptcy throughout the United States." Bankruptcy proceedings are supervised by and litigated in the United States Bankruptcy Courts. Find information about bankruptcy laws, including answers to some of the most frequently asked questions. Law articles in this archive are predominantly written by lawyers for a professional audience seeking business solutions to legal issues. Start your free research with FindLaw.
Bankruptcy
Bankruptcy Articles
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Bankruptcy Law: Traps for the Unwary
I.Automatic Stay: The Mother of All Injunctions. 11 U.S.C. 362 provides that when a petition in bankruptcy is filed under sections 301, 302 or 303 of Title 11 the filing operates as a stay, applicable to all entities, of: (1)The commencement or ...
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Buying And Selling Claims In Bankruptcy: Maximizing Returns
The term "bankruptcy" is often misunderstood and interpreted to mean "bad business" or "bad investments." However, what is less known is that bankruptcy can be laden with profitable investment opportunities and the opportunity to reduce risk ...
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Bankruptcy: A Fresh Start for People with Financial Problems
Bankruptcy is designed to provide a fresh start from excessive debt. Sometimes people make poor decisions which result in financial problems. Other times, people get into financial difficulty through no fault of their own. A serious illness in the ...
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Bankruptcy: A Fresh Start ?
Federal Law codifies three (3) types of bankruptcy relief: (1) Chapter 7 - Liquidation; (2) Chapter 11 - Debt Reorganization; and (3) Chapter 13 - Small Debt Reorganization for the Debtor with Regular Income (11. U.S.C.A. §§ 701 et seq., 1101 et ...
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Bankruptcy Info
When you file bankruptcy, you can choose the kind of bankruptcy that best meets your needs. Here is a brief outline. Additional information can be found under General Bankruptcy Information below. You can usually keep your property, but you must ...
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Bankruptcy: Chapter 7 vs. Chapter 13
Good FaithThe conduct of Debtors in Bankruptcy Court is judged by the standard of "good faith." A Chapter 7 case may be dismissed by the Court if it is not filed in good faith or a substantial abuse of the bankruptcy system. Any Plan proposed under ...
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Assumption of Intellectual Property Licenses in Bankruptcy: Catapult Entertainment, Inc.
The decision in the Catapult case discussed in this Memorandum holds that non-exclusive licenses of patents may not be assumed by debtors in possession under the Bankruptcy Code. In so holding, the Ninth Circuit has raised any number of questions ...
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Arent Fox Alert: Old Equity Holders May Retain Ownership of Chapter 11 Debtor by Contributing New Capital If Deal Is Market-Tested
For several years, one of the most controversial issues in bankruptcy law has been a Chapter 11 debtor's prior equity holders ability to retain an equity interest in the reorganized entity. The right to retain such an interest in exchange for a new ...
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California Bankruptcy
Sometimes, when there are no alternative means for overcoming financial problems, bankruptcy may be the only answer. Filing bankruptcy doesn't mean one will lose their house or car. In fact, in most cases, one will be allowed to keep both personal ...
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Preserving Security Interests And Priority Status For Post-Confirmation Advances
Does a lender's prepetition priority lien extend to post-confirmation advances where the confirmed plan does not expressly provide for the continuation of the lender's priority lien? This question was recently answered by a United States district ...