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

Court Allows Reimbursement Of Attorneys’ Fees to Member Of Creditors’ Committee

The United States Court of Appeals for the Third Circuit recently held that the Bankruptcy Code provision that authorizes reimbursement of expenses to a member of a creditors' committee also authorizes reimbursement of attorneys' fees incurred by a ...
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China Has Joined The WTO. Are You Prepared?

Do You Have an Intellectual Property Strategy in China? And if you do business in this largest market in the world, you must consider enforcing intellectual property rights because your products are likely to be copied. China has become notorious ...
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Chapter 7 Bankruptcy FAQ’s

Chapter 7 is that part (or chapter) of the Bankruptcy Code that deals with liquidation. The Bankruptcy Code is that part of the federal laws that deal with bankruptcy. A person who files under Chapter 7 is called a debtor. In a chapter 7 case, the ...
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Chapter 7 General Information

A Chapter 7 is a procedure under the U.S. Bankruptcy Code to obtain Court protection of a person's or business's property, and liquidate assets that the debtor cannot exempt and keep. An individual or couple can obtain a discharge from debts ...
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Chapter 13 General Information

A Chapter 13 plan is a procedure under the U.S. Bankruptcy Code to obtain Court protection of a person's property, and to develop a plan of paying creditors by making monthly payments to a Trustee under the Court's supervision. Who is eligible to ...
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Brief Intro to Chapter 7 Bankruptcy

Both individuals and business entities may file a Chapter 7 bankruptcy. The person or entity which files bankrputcy is known as the debtor, and the debtor must pay a $175 filing fee and file a number of forms which include a complete schedule of ...
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Bankruptcy Options for the Individual Consumer

The purpose of this article is to inform the lay person regarding their options under the federal Bankruptcy Code. The bankruptcy laws are complicated and not easily described due to the fact that the application of the law is different from State ...
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Bankruptcy Law: Violation of the Automatic Stay

In pursuing the orderly administration of unpaid debt in bankruptcy, the person in charge of the assets of the debtor is called the trustee. The trustee is faced with the difficult task of balancing the inherently conflicting interests of the ...
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Bankruptcy Law: Effect of Bankruptcy Discharge

To the debtor, the biggest benefit to filing for bankruptcy is the discharge of debts. Discharge means the elimination of liability for a debt. Bankruptcy prioritizes debts and manages the debtor's assets in such a way that it can pay creditors in ...
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Bankruptcy for Individuals

Yes, the two main types of bankruptcy cases for individuals are Chapter 7 liquidation cases and Chapter 13 debt adjustments. Individuals are also eligible to file Chapter 11 reorganizations, but because of the complexity and expense of Chapter 11 ...
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