| The "Clean Slate" of Chapter 7 Bankruptcy |
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| What is Chapter 7 bankruptcy? More... |
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| Employment of Professionals |
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| The Bankruptcy Code governs a trustee's or debtor in possession's employment of attorneys, accountants, appraisers, auctioneers, and other professional persons to represent or assist in carrying out duties under the Bankruptcy Code. Generally, the trustee or debtor in possession had broad latitude in the selection of professional persons to be employed. The Bankruptcy Code authorizes the employment of professional persons only to the extent that such persons do not hold or represent an interest adverse to the estate.More... |
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| Trustees |
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| A trustee is the representative of the estate in a bankruptcy case and has the capacity to sue and be sued. Trustee is the term used for several different roles in the bankruptcy process. More... |
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| Introduction to Chapter 7 "Straight" Bankruptcy |
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| Chapter 7 is a chapter or a group of sections of the federal Bankruptcy Code. These sections set forth the law that the United States Bankruptcy Courts and Chapter 7 debtors must follow. Chapter 7 includes provisions that are designed to protect both debtors and secured creditors. More... |
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| Chapter 11 Conversion or Dismissal |
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| The Bankruptcy Code contemplates voluntary conversion by the debtor and discretionary conversion or dismissal by the court. In addition to those two forms of relief, a court may also dismiss a chapter 11 case for lack of good faith or may dismiss or suspend the case pursuant to provisions in the Bankruptcy Code.More... |
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