| Time and Necessity of Filing Proofs of Claims |
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| A "claim" in bankruptcy is (1) a right to payment, whether or not reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured; or (2) a right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured. More... |
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| Dischargeability of Debt |
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| Discharging a debt in bankruptcy means that the debt is eliminated or wiped out. However, not all types of debts can be discharged in a bankruptcy proceeding. More... |
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| Chapter 11 Debtors in Possession |
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| Upon the filing of a voluntary petition for relief under chapter 11 or, in an involuntary case, the entry of an order for such relief, the debtor automatically assumes an additional identity as the "debtor in possession." The term refers to a debtor that keeps possession and control of its assets while undergoing a reorganization under chapter 11, without the appointment of a case trustee. More... |
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| Introduction to Chapter 11 Bankruptcy |
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| The Bankruptcy Code is a collection of federal laws that apply in bankruptcy cases or proceedings. The Code is made up of various "Chapters" that each apply to a different type of debtor or bankruptcy. One purpose of Chapter 11 is to "rehabilitate" or "reorganize" a business so that it can continue without folding or closing. More... |
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| Turnover to the Trustee |
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| The Bankruptcy Code requires an entity in possession, custody, or control of property of the estate, including exempt property, to deliver that property to the trustee, unless the property is of inconsequential value to the estate. More... |
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