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Bankruptcy Reform - Will It Affect Eligibility?

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), Pub. L. No. 109-8, 119 Stat. 23, was signed into law by President George W. Bush on April 20, 2005. It represents one of the most comprehensive overhauls of the...

Turnover to the Trustee

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.

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Creditor Claims

A "claim" is a right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured. A claim may also be the right to an...

Conversion and Dismissal of a Chapter 12 Case

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...

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. For instance, if the debtor owes a prepetition debt to a particular creditor, and that...