Bankruptcy

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.

Finance

Bankruptcy Articles

Tax Court Warns: Cash Distributions from an IRA Must be Rolled Over in Cash

The Tax Court recently ruled in Albert Lemishow v. Commissioner of Internal Revenue, 110 T.C. No. 11 (1998), that a taxpayer receiving a cash distribution from an IRA or Keogh plan must roll it over to an IRA in cash in order to qualify as a ...
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Tax Reporting of Plan Loan Defaults

The IRS Form 1099-R for 1997 includes a new distribution code for reporting certain taxable amounts relating to plan loans. This new code comes into play in case of a "deemed distribution" that results when a participant defaults on a plan loan or ...
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The “ABCs” of Commercial Leases in Bankruptcy

You are a landlord of office, industrial or retail space and you just received notice that one of your tenants has filed bankruptcy. There are several issues that may or may not arise depending on the nature of your tenant's enterprise and the type ...
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The Bankruptcy Claims Procedure: The Easy Way In

One aspect of the Bankruptcy Code that has remained uniform, efficient and relatively inexpensive is the proofs of claim filing procedure. Designed upon the assumption that a claimant can briefly summarize the basis for the debt due, the form ...
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The Card You Pick Can Save You Money

Definition of Terms Calculation of Finance Charge Credit Card Owner's Checklist Survey Results Survey . Smart consumers do comparison shopping when looking for credit such as a mortgage or an auto loan. It is also a good practice to engage in when ...
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The .com Bankruptcy

Until recently, the words bankruptcy and insolvency were almost never heard in connection with Internet companies. The computer sector was too energized, the stock market too hot, and equity, whether through angel investors, venture capitalists, or ...
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The End of Privacy?

We as citizens are guaranteed certain basic rights and freedoms, the most important of which is our right to privacy -- the right to be free from governmental intrusion. Yet, as we sit passively and watch the Government operate without our input ...
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The Enforceability Prefiling Stay Waivers: It’s a toss up

A prefiling stay waiver is a debtor's agreement with a creditor not to contest that creditor's motion for relief from the automatic stay should a bankruptcy be filed. In practical terms, it means that once a debtor files for bankruptcy the creditor ...
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The Financial-Adviser Model for Attorney Compensation in Bankruptcy Cases

The issue of attorney compensation remains a perennial focal point for both bankruptcy practitioners and their clients. The June 27, 2002 edition of The Daily Deal asked "Are Bankruptcy Professionals Getting Excessive Bonuses for Just Doing Their ...
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The Lifespan of a Judgement

Hawaii Revised Statute Section 657-5 provides that judgments and decrees are good for a period of ten years. This ten year period can be extended for one additional year period to the expiration of the initial ten year period an extension is ...
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