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

Please Sign Here: Preparing For Those CEO/CFO Certifications

Corporate America is still coming to grips with policies and procedures surrounding the certifications of SEC filings required by chief executive officers and chief financial officers under the Sarbanes-Oxley Act. Section 302 of the Act requires ...
Read More »
Payments Made to Secured Creditors May Be Considered Preferential Where the Secured Creditor Has a Floating Lien and is Undersecured

Payments made to creditors in the 90 days preceding a bankruptcy case may be avoided as preferential under Section 547 of the Bankruptcy Code if certain conditions are met. One of the conditions is that the transfer enables the creditor to receive ...
Read More »
Pathology of Section 363 Sales (Not as Simple as They Look)

Section 363 sales have shouldered past competing methods for the disposition of financially distressed businesses. Traditional stock or asset acquisitions, secured party sales, sales by assignees for the benefit of creditors and bankruptcy trustees ...
Read More »
No Discharge of Default Amounts Under An Assumed Contract

The United States Court of Appeals for the Fifth Circuit recently clarified the operation of the Bankruptcy Code where two sections of the Code intersect: section 1141(d), which provides for the discharge of certain debts arising before the date a ...
Read More »
Michigan Department of Civil Rights New Problem Resolution Process

The Michigan Department of Civil Rights ("MDCR") recently implemented a new system for handling employment discrimination complaints. This new system is called the "Problem Resolution Process". It emphasizes early resolution techniques which ...
Read More »
Miscellaneous Secured Lender Bankruptcy Issues

In a recent decision by the United States Bankruptcy Court for the District of Massachusetts, Judge Queenan held in In re Mitchell v. Robbins, 119 B.R.1, 20 B.C.D. 1688 (Bankr. D. MA 1990) that for the purpose of determining adequate protection of a ...
Read More »
In Rem Relief Comes to Massachusetts

While in rem relief has been used and litigated in such hotbeds of bankruptcy filings (and abuse) as California, see, e.g., Fernandez v. GE Capital Mortgage Svcs, Inc. (In re Fernandez), 1998 WL 80821 (9th Cir.BAP (Cal.)), in rem relief has been ...
Read More »
Inequality Among Administrative Claimants

In the context of a Chapter 11 bankruptcy proceeding, generally speaking, administrative expenses are the post-petition obligations of the debtor. The Bankruptcy Code defines administrative expenses as the actual, necessary costs and expenses of ...
Read More »
Impact of Post-petition Defaults On Debtor’s Entitlement to Exercise A Lease Renewal Option

In a recent decision, Cannery Row Co. v. Leisure Corp. (In re Leisure Corp.), the Bankruptcy Appellate Panel of the Ninth Circuit concluded that a bankruptcy court is not compelled to allow a debtor to exercise a renewal option contained in a ...
Read More »
How to Prepare for Your Initial Consultation With a Bankruptcy Attorney

How should you prepare for your first consultation with a Bankruptcy attorney? An attorney's advice can be complete and accurate only when the information you provide is complete and accurate. The following list is the minimum you will need for your ...
Read More »