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Learn about the bankruptcy code that governs the process of liquidation under the U.S. bankruptcy laws. Find out the differences between Chapter 7 for businesses and individuals, the exceptions to discharge, the means test, and the credit implications.
Learn about the history, law, and types of bankruptcy in the US, governed by the Bankruptcy Code. Find out the differences between liquidation (Chapter 7), reorganization (Chapters 9, 11, 12, and 13), and cross-border insolvency (Chapter 15).
Chapter 11 of the United States Bankruptcy Code allows businesses and individuals to reorganize their debts and operations under court supervision. Learn about the eligibility, benefits, drawbacks and outcomes of Chapter 11 bankruptcy, as well as the role of the debtor in possession and the creditors' committee.
Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.
Due diligence is the investigation or exercise of care that a reasonable business or person is expected to take before entering into an agreement or contract. Learn about its origin, application, and legal implications in business transactions, corporate finance, and cybersecurity.
Title 42 of the United States Code is the part of the US Code that deals with public health, social welfare, and civil rights. It contains 46 chapters and covers various topics such as public health service, social security, housing, atomic energy, civil rights, and more.
Bankruptcy is a legal process of seeking relief from debts to creditors. Learn about the origin, evolution, types and consequences of bankruptcy, as well as the different approaches and regulations in various countries and regions.
Official forms are used in filing a bankruptcy case. [9] A bankruptcy case is begun with the filing of the official form B1 bankruptcy petition. [10] The filing of a chapter 7 or chapter 13 personal bankruptcy case also requires the filing of schedules A through J, the statement of financial affairs as well as the form B22 means test.