| First Meeting of Creditors |
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| Under the Bankruptcy Code, the United States trustee must convene and preside at a meeting of creditors, which is often referred to as the section 341 meeting. This must occur within a reasonable time after the order for relief in a case. More... |
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| Disclosure Statements |
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| Debtors must report assets, liabilities, contested claims, and other business affairs. The purpose of these disclosures is to allow creditors an opportunity to evaluate proposed plans. Disclosure statements must contain "adequate information." The specific information required is determined on a case by case basis by the court and may include any information which the court deems reasonable and necessary for parties in interest to reach informed decisions before voting on plan confirmation. More... |
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| Chapter 12 Hardship Discharge |
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| A Chapter 12 hardship discharge may only be granted if the unsecured creditors have received at least as much as they would have received through a Chapter 7 liquidation and if modification of the plan is not feasible. More... |
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| Bankruptcy Case Administration |
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| All bankruptcy proceedings are referred to a bankruptcy judge and all related papers, including the original petition, are filed with the Clerk of the Bankruptcy Court. The United States Bankruptcy Court has its own local rules governing procedures within that court. More... |
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| Chapter 9 Eligibility |
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| Only a "municipality" can file for relief under chapter 9. The term "municipality" is defined in the Bankruptcy Code to mean a political subdivision or public agency or instrumentality of a State. The definition is broad enough to include cities, counties, townships, school districts, and public improvement districts. It also includes revenue-producing bodies that provide services that are paid for by users rather than by general taxes, such as bridge authorities, highway authorities, and gas authorities. More... |
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