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CHAPTER 40: BANKRUPTCY

CHAPTER 40: BANKRUPTCY. CHAPTER 40: BANKRUPTCY. Learning Objectives: Terminology Basic Concepts Types of Bankruptcy: Chapter 7 Chapter 11 Chapter 13 Procedural Steps Trust Administration Creditor Rights and Duties. INTRODUCTION TO BANKRUPTCY. Legislation:

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CHAPTER 40: BANKRUPTCY

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  1. CHAPTER 40: BANKRUPTCY

  2. CHAPTER 40: BANKRUPTCY Learning Objectives: Terminology Basic Concepts Types of Bankruptcy: Chapter 7 Chapter 11 Chapter 13 Procedural Steps Trust Administration Creditor Rights and Duties Chapter 40

  3. INTRODUCTION TO BANKRUPTCY • Legislation: • Bankruptcy Reform Act of 1978 (1978 Act) • Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (2005 Act) Chapter 40

  4. INTRODUCTION TO BANKRUPTCY • Terminology • Debtor • Claim • Order of Relief • Discharge • Trustee Chapter 40

  5. INTRODUCTION TO BANKRUPTCY • Types of Bankruptcy • Liquidation: Chapter 7 • Reorganization: Chapter 11 • Adjustment of Debts: Chapter 13 Chapter 40

  6. GENERAL PRINCIPLES • Property of the Estate • Exemptions: • Federal • State • Debts that are NOT Dischargeable • Grounds for Denying Discharge Chapter 40

  7. PROCEDURAL STEPS • Introduction • Voluntary Commencement • Involuntary Commencement • Conversion of a Case • Automatic Stay • Meeting of the Creditors Chapter 40

  8. TRUSTEE AND CASE ADMINISTRATION • Nature of the Estate • Trustee: • Introduction • Duties of the Trustee • Rights and Powers of the Trustee • Preferences • Fraudulent Transfers Chapter 40

  9. CREDITORS • Claims • Right of Setoff • Priorities • Secured • Unsecured Chapter 40

  10. CHAPTER 40: BANKRUPTCY

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