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BK 122: Chapter 1 of the Bankruptcy Code
Chapter 1 of the Bankruptcy Code The United States bankruptcy laws are codified at 11 U.S.C. § 101 et seq., which is commonly referred to as the Bankruptcy Code. The Code is segregated into various “chapters” just like a book: 1, 3, 5, 7, 9, 12, 13 and 15. The Bankruptcy…
BK 123: Chapter 3 of the Bankruptcy Code
Chapter 3 of the Bankruptcy Code Bankruptcy Code Chapter 3 relates to case administration. Section 301 et seq. provides rules about commencing a bankruptcy case, duties of the trustee and other officers, required meetings of creditors, and automatic stay/injunction rights. Not all sections of Chapter 3 will be addressed. Instead, concentration is…
BK 124: Chapter 5 of the Bankruptcy Code
Chapter 5 of the Bankruptcy Code Bankruptcy Code Chapter 5 provides for rights of creditors, duties of debtor, obligations of debtor’s counsel, and administration of the bankruptcy estate. Chapter 5 consists of sections 501 thru 562. Not all sections of Chapter 5 will be addressed. Instead, concentration is placed on those…
BK 125: Chapter 7 of the Bankruptcy Code
Chapter 7 of the Bankruptcy Code Bankruptcy Code Chapter 7 is different than Code chapters 1, 3 & 5. Think of Chapters 1, 3 and 5 as the internal gears that make the bankruptcy machine operate efficiently – the nuts and bolts of the bankruptcy process if you will. In…
BK 129: Role of the U.S. Trustee
Role of the United States Trustee. A U.S. trustee is part of the United States Trustee Program established by the United States Department of Justice. The U.S. Trustee Program is a component of the Department of Justice that seeks to promote the efficiency and protect the integrity of the federal…
BK 130: Role of the Chapter 7 Panel Trustee
The Role of the Chapter 7 Panel Trustee. The U.S. trustee must be distinguished from a Chapter 7 panel trustee. This chapter focuses on the Chapter 7 panel trustee. The U.S. trustee in each district has assembled a pool of private people to act as Chapter 7 trustees. These people are typically attorneys. …
MK 110: The Bankruptcy Process
Understanding the Bankruptcy Process Studying these courses should help any attorney feel more competent to file his/her first Chapter 7 bankruptcy case. Attorneys who embrace these courses will be able to better understand the Chapter 7 legal requirements, anticipate bankruptcy issues, and carefully prepare the required petition, schedules, and statements.…
MK 111: Bankruptcy Trustees
Understanding the Role of the Bankruptcy Trustees The generic noun “trustee” can be confusing for those less familiar with the bankruptcy system. The term “trustee” can refer to either a United States trustee or a Chapter 7 “panel” trustee. The role of both trustees is discussed in this course.
MK 112: U.S. Bankruptcy Code
Exploring the U.S. Bankruptcy Code The Bankruptcy Code is the most authoritative source of bankruptcy law. The Bankruptcy Code is divided into “chapters” just like a book. For individuals seeking to discharge their debts without making any payments, the most relevant Bankruptcy Code chapters are Chapters 1, 3, 5 & 7.…