| Nondischargeable Debts |
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| Dischargeable debts are those debts that can be discharged through bankruptcy proceedings. Certain debts cannot be discharged through a bankruptcy proceeding. In a Chapter 7 bankruptcy, nondischargeable debts cannot be discharged at all, and in a Chapter 13 bankruptcy, these debts remain even after the repayment plan is completed. 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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| Securities Investor Protection Act |
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| The Securities Investor Protection Act (SIPA) was designed to create a new form of liquidation proceeding. SIPA created the Securities Investor Protection Corporation (SIPC), a nonprofit, private membership corporation to which most registered brokers and dealers are required to belong. The SIPC fund constitutes an insurance program. The fund is designed to protect the customers of brokers or dealers subject to SIPA from loss in case of financial failure of the member. The fund is supported by assessments upon its members. More... |
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| Conversion and Dismissal of a Chapter 12 Case |
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| Chapter 12 specifically provides that a debtor may voluntarily convert a Chapter 12 bankruptcy case to a Chapter 7 bankruptcy or dismiss the case at any time. Creditors, however, may not seek the involuntary conversion of a debtor's Chapter 12 bankruptcy to a Chapter 7 bankruptcy unless fraud is shown in connection with the case. 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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