| Bankruptcy Discharge |
|
| Bankruptcy is a process created by federal law that provides relief for debtors, who can either eliminate their debts or repay their debts. Chapter 7 "liquidation" is the process by which debtors wipe out or "discharge" many of their debts. More... |
|
|
| Setoffs in Bankruptcy |
|
| Setoff is an equitable right of a creditor to deduct a debt it owes to the debtor from a claim it has against the debtor arising out of a separate transaction. The Bankruptcy Code is not an independent source of law that authorizes a setoff; it recognizes and preserves rights that exist under non-bankruptcy law. More... |
|
|
| Bankruptcy Crimes |
|
| Bankruptcy crimes exist to protect the goals of civil bankruptcy, which is a fresh start for consumers, the reorganization of businesses, and the equitable distribution of a debtor's assets amongst creditors. Almost every bankruptcy crime is preceded by a prior civil bankruptcy case. Consequently, courts have had to organize the coordination of several cases arising out of one bankruptcy. More... |
|
|
| Dischargeability of Taxes in Bankruptcy |
|
| Debtors may be able to discharge some or all of their older income tax obligations in bankruptcy. Dischargeability of these taxes turns on the question whether or not they are "priority" claims. Tax obligations that are non-priority are dischargeable. More... |
|
|
| Introduction to Chapter 11 Bankruptcy |
|
| 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... |
|
|